Acquisitions
Off-market sourcing through long broker and operator relationships at a low basis to replacement cost.
About
Stewards of real capital.
A vertically integrated private equity real estate firm developing and operating industrial flex office across Austin and the Texas Hill Country — with our own capital in every deal.
Realized results
10Assets realized
~$14MMarket capitalization
120%Avg. realized XIRR
7.2xAvg. equity multiple
40+Years combined experience
Reflects realized dispositions and recapitalizations to date. Past performance is not indicative of future results.
Our thesis
The most resilient corner of CRE is also the most overlooked.
Small-bay industrial flex is the most resilient, most overlooked corner of commercial real estate — sticky tenants, fragmented ownership, and almost no new supply. It is the quiet workhorse of American commerce.
Read the strategy →Our approach
Returns are made in operations.
We mark rents to market, structure proper expense recoveries, and build in-house. Controlling the build and the rent roll is how we compound NOI instead of waiting on cap rates.
See our approach →Our alignment
More family office than fund manager.
We look more like a family office than a fund manager — principals' capital sits in every deal. The discipline that protects our money is the same discipline that protects yours.
What we do
Four capabilities, one team.
Development & Construction
In-house delivery of modern metal flex buildings, controlling timeline, quality, and cost.
Asset Management
Hands-on leasing, mark-to-market rents, and expense discipline that drive NOI.
Investor Relations
Transparent reporting and capital management through our investor portal.
Principals
Meet the principals.
40+ years of combined experience across investment, development, and construction.
Headshot
Richmond oversees Sovereignty's strategic vision and execution — investment strategy, acquisitions, capital raising, and portfolio management. His entrepreneurial background drives the firm's mission to build high-quality flex industrial spaces that support underserved small businesses.
Headshot
Steve directs Sovereignty's end-to-end development process, from site acquisition through construction and delivery. With over a decade of construction and operations experience, he ensures every asset is built to exacting standards on schedule and on budget.
Alignment
Principals co-invest in every fund and every deal. Our compensation is weighted toward carry, not fees. The capital we put alongside yours is the same capital we use to pay our mortgages. Together, the principals bring 40+ years of experience across in-house asset management, development, and construction.
How we operate
Four pillars.
Permanence
We are stewards of buildings that will outlast us. We make decisions on a generational time horizon.
Discipline
We say no to most deals. We underwrite the loss case and size leverage accordingly.
Alignment
We invest meaningful personal capital in every fund and every deal. Our partners' interests are our own.
Operational edge
Returns are made in operations. We staff and structure the firm to win on execution.
Partner with us.
We work with a select group of accredited investors, family offices, and institutions.
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