Investor alignment built on underwriting discipline.
River approaches every opportunity with a principal mindset: conservative assumptions, visible downside, and constant reference back to execution reality.
Returns should be supported by operating logic, not just marketing language.
River prefers scenarios that can be explained plainly: why the project wins, what could break, how management responds, and where capital is protected when conditions tighten. The MBA forecasts $805B in CRE originations for 2026 — a 27% increase over 2025. Capital is available; it is more selective.
We do not separate underwriting from execution. A projection is only useful if the team, timing, entitlement path, and scope logic can actually carry it.
How River underwrites every opportunity.
Downside Case
Capital protection must survive the worst credible scenario before proceeding.
- —Extended hold (+12–18 months)
- —Cost overrun absorption (10–15%)
- —Revenue shortfall (rent growth = 0)
- —Debt service stress testing
Base Case
The realistic projection grounded in current evidence, actual pricing, and achievable schedule.
- —Market-rate revenue (current comps)
- —Current contractor pricing
- —Conservative absorption schedule
- —Realistic vacancy assumptions
Upside Case
Only after downside and base are stress-tested — and only if operationally achievable.
- —Favorable market timing
- —Accelerated lease-up
- —Value-add premium capture
- —Cap rate compression on exit
Partners who are informed are partners who stay invested.
River's reporting framework keeps capital partners updated on what matters: budget status, schedule milestone, open decisions, and risk flags — without noise or spin.
Deal Introduction
Opportunity summary, site thesis, and initial underwriting shared before any capital commitment is requested.
Due Diligence Package
Full 3-case model, site analysis, entitlement path, execution plan, and risk register.
Capital Structure Alignment
Stack, waterfall, preferred returns, GP/LP split, and capital call schedule formalized.
Weekly Reporting
Ongoing investor updates covering budget, schedule, risks, and next-step decisions.
Target returns built on conservative assumptions.
Every projection starts with 0% revenue growth in year one. Downside survivability is the first underwriting gate — upside is only modeled after base and downside hold.
Not an offer to sell securities. Any offering through formal legal documents and applicable regulatory disclosures only.
Interested in a current or upcoming investment opportunity?
Not an offer to sell securities. Any investment offering must be made through formal legal documents and applicable regulatory disclosures.