Framework Services Capital Stack About Engage
Capital Formation $10M–$100M+◆ Arbitrage Classification & Underwriting◆ Institutional Exit Packaging◆ Capital Stack Architecture◆ Buyer Pool Stratification◆ NYC Commercial Real Estate◆ Bridge · Pref Equity · Agency · Mezz◆ Capital Formation $10M–$100M+◆ Arbitrage Classification & Underwriting◆ Institutional Exit Packaging◆ Capital Stack Architecture◆ Buyer Pool Stratification◆ NYC Commercial Real Estate◆ Bridge · Pref Equity · Agency · Mezz◆
Capital Markets Origination · New York City

Deal Structure is
the product.
Not the pitch.

Structured Property Solutions works at the intersection of commercial brokerage and institutional capital markets — classifying arbitrage paths, engineering capital stacks, and packaging fragmented assets into institutional-grade deal flow that attracts aligned capital.

Submit a Deal View Framework
The Invariant Equation — All Deal Analysis Reduces Here
Π = Pexit − Pacq − Kcarry
Spread = (ΔValue − Kcarry − Ffriction) × Vcapture / Duration
Π
Net arbitrage profit — the only number that matters
Pexit
Exit price — determined by buyer pool selection and institutional packaging quality
Pacq
Acquisition cost — gross spread established at entry
Kcarry
Total carry cost — WACC × hold period + friction
01

A capital markets operator does not present properties.
They present executable arbitrage paths.

Most commercial brokerages deliver listing information. We deliver verified spread with documentary basis.

Structured Property Solutions is a deal structuring and origination practice that operates at the senior broker and capital advisor level — combining commercial sales capabilities with institutional-grade analytical frameworks to identify, structure, and close transactions that fragmented deal flow cannot reach.

The core proposition: arbitrage exists between what retail pricing assigns to an asset and what institutional capital will pay for a properly structured, properly packaged deal. Our framework quantifies that spread, identifies which value-creation conditions are present, matches the asset to the correct buyer pool, and engineers the capital stack accordingly.

This is not advisory language. It is a production system — with underwriting worksheets, capital class routing guides, and buyer pool stratification matrices built to institutional-grade specification.

  • Arbitrage Classification Before Everything
    Every engagement begins with a binary determination: is a positive Π demonstrable from verifiable inputs at commitment? If not, it is a speculation, and the capital structure changes accordingly.
  • Buyer Pool Stratification Drives Pricing
    P_exit is not an assumption — it is a function of buyer pool selection. Retail individual, family office/HNW, regional operator, institutional REIT/PE, or distressed/special situations. Wrong pool = no bid at underwritten price.
  • Capital Stack Matched to Hold Period
    WACC minimization and maturity matching are determinants of K_carry, and K_carry determines whether Π is positive. We structure bridge, pref equity, mezz, Agency, and gap capital to match the execution timeline.
  • Institutional Exit Packaging
    An asset priced for a retail buyer that reaches institutional capital leaves money on the table at every step. We package deal flow to match the diligence standards and mandate thresholds of institutional allocators.
  • Five Structural Conditions Identify the Opportunity
    Income modification, cap rate compression, legal envelope change, capital cost differential, and off-market access. One or more must be present and verifiable — or the deal does not proceed.
02

The Five Value-Creation Conditions

01
ΔN
Income Modification
Lease-up, rent recovery, vacancy burn-off, or repositioning that increases net operating income. We model the NOI delta and hold period required to stabilize.
02
ΔR
Cap Rate Compression
Asset class migration, stabilization, or market timing that compresses the exit cap rate relative to entry. The spread between entry and exit cap is the structural value lever.
03
ΔL
Legal Envelope Change
Zoning changes, air rights activation, condo conversion, or regulatory restructuring. Must be documentable at commitment — not assumed post-close.
04
ΔK
Capital Cost Differential
Access to capital at cost structures unavailable to retail buyers — CDFI, EB-5, Agency, MDI, or preferred equity. Lower WACC directly reduces K_carry and expands Π.
05
ΔI
Off-Market Access
Distressed seller situations, pre-market origination, or execution speed that retail capital cannot match. Advantage must be contractually locked before it counts in underwriting.
→

Six Buyer Pools — The Pricing Gap Matrix

B1
Retail Individual
Highest cap rate expectations, lowest execution certainty. Acquisition target pool where pricing arbitrage originates.
B2
Retail Institutional
Family offices and HNW investors. Lower cap rate requirements than retail. Targets for repositioned assets with documented NOI.
B3
Small Operator
Sub-$10M transaction range. Value-add buyers with operational capability. Intermediate exit pool for fragmented assets.
B4
Regional Operator
Multi-asset operators with portfolio mandates. Target buyers for stabilized assets with institutional-grade documentation.
B5
Institutional
REIT, PE, pension fund, and sovereign capital. Lowest cap rate requirements. Requires institutional packaging, compliance, and hold period certainty.
B6
Distressed / Special Situations
Opportunistic capital targeting basis plays, receiverships, and forced-sale situations. High-yield, time-sensitive execution.
03

The only question that matters at commitment: Arbitrage or Speculation?

Arbitrage — Π > 0 is Demonstrable
Verified spread from verifiable inputs. Capital structure accordingly.
  • Exit price supported by named buyer pool at documented cap rate
  • One or more structural conditions identified and verifiable at commitment
  • K_carry fully modeled — debt service, vacancy carry, transaction costs, reserves
  • Execution risk contractually controlled: GMP, executed leases, or pre-approved permits
  • Capital stack matched to hold period — maturity mismatch is a structural defect, not a risk
  • Institutional-grade packaging prepared before approaching exit buyer pool
Speculation — Π is a Hope, Not a Calculation
No demonstrable spread. Capital structure must reflect this reality.
  • Exit price based on market assumptions without buyer pool verification
  • Value conditions assumed present rather than documented
  • Carry cost modeled only as debt service — friction and reserves omitted
  • Execution risk treated as zero or left out of the underwriting model entirely
  • Capital structure designed for the best case — leaving the operator exposed in any scenario deviation
  • Asset marketed to all buyers simultaneously — ensuring none of them are the right buyer

“An unanswered question at commitment is not a risk to manage — it is a gap that converts an arbitrage into a speculation.”

04

Services & Origination Capabilities

01 — Origination
CRE Deal Structuring & Origination
End-to-end deal structuring across multifamily, mixed-use, office, retail, and industrial asset classes. Arbitrage classification, value condition identification, and capital formation from first call through closing.
$10M — $100M+
02 — Capital Stack
Capital Stack Architecture
Structured capital formation across all debt and equity tiers: permanent Agency, bridge, construction, CDFI, EB-5, mezzanine, preferred equity, and gap capital. WACC optimization matched to execution timeline.
Full stack — senior through gap
03 — Packaging
Institutional Exit Packaging
Converting fragmented retail-priced assets into institutional-grade portfolio products. Buyer pool stratification, deal packaging to mandate specifications, and credentialing documentation for institutional capital review.
Boutique → Institutional caliber
04 — Residential
Trophy Residential & Co-op/Condo
High-value residential transactions in the NYC market including co-op board navigation, condo structuring, and trophy asset sales requiring institutional-quality representation and capital markets fluency.
NYC Metro focus
05 — Bridge
Bridge & Transitional Finance
Bridge loan origination and structuring for transitional assets in lease-up, renovation, or repositioning phases. SOFR-based floating-rate modeling, carry cost sensitivity analysis, and permanent takeout structuring.
5.75% – 12.75% rate environment
06 — Platform
White-Label Brokerage Program
Institutional-grade deal structuring infrastructure deployed as a white-label capability for boutique CRE firms. Turnkey analytical frameworks, underwriting toolkits, and capital market access enabling smaller brokerages to compete for institutional mandates.
REAL NY Commercial & select partners
05

The Seven Capital Classes

Every deal is classified by capital class before structuring begins. The classification determines instrument selection, WACC modeling, hold period constraints, and which lender relationships are engaged.

A
Permanent Debt
Agency, CMBS, life company. Stabilized exit target for most repositioning plays.
B
Bridge / Transitional
Short-term financing for lease-up, renovation, and repositioning. SOFR + spread.
C
Construction
Ground-up and substantial rehabilitation financing. Phased draws, completion risk management.
D
CDFI
Community Development Finance. Below-market rates tied to affordability mandates and geographic priorities.
E
MDI
Minority Depository Institution lending. Mission-driven capital with geographic and demographic constraints.
F
EB-5 / Institutional
EB-5 immigration capital, blind pool, CIT, and institutional equity. Complex structuring with regulatory overlay.
G
Gap Capital
Mezzanine, preferred equity, and subordinate instruments filling the gap between senior debt and required equity.
06

About Structured Property Solutions

Built for the operator who understands that deal structure is the product — and that institutional capital requires institutional preparation.

Structured Property Solutions was established to address a specific gap in the New York commercial real estate market: the absence of institutional-grade deal structuring capability within boutique and mid-market brokerage operations. The major institutional platforms — Marcus & Millichap, CBRE, Eastdil — have internal capital markets infrastructure that boutique brokerages simply cannot replicate on their own.

SPS provides that infrastructure as a production system — not as advisory language or marketing positioning, but as a working analytical framework with underwriting tools, capital class routing guides, buyer pool stratification matrices, and institutional packaging standards built to survive scrutiny at the senior capital allocator level.

The framework has been developed and stress-tested through engagement with the full range of NYC commercial real estate transaction types: multifamily repositioning, mixed-use development, co-op and condo transactions, bridge financing, and institutional portfolio aggregation. Every component traces back to the same invariant equation.

MKT
New York City commercial real estate — all five boroughs plus select institutional markets
CAP
Capital formation $10M–$100M+, full capital stack from senior debt through gap equity
SYS
GoHighLevel workflow integration, AI-assisted underwriting, Excel-based analytical worksheets
PTR
REAL NY Commercial — first white-label client deployment; additional boutique partnerships in development
STD
ISO 9001 QMS-informed documentation standards; institutional-grade deliverable specifications
Manuel Benítez
Founder & Principal — SPS
$10M+
Transaction range floor
7
Capital class framework
5
Value-creation conditions
6
Buyer pool strata

Commercial sales agent, capital markets origination specialist, and deal structuring architect operating across the full CRE transaction stack in the NYC metro market.

If you have a deal that requires structural precision and institutional capital alignment — let’s classify it.

Bring the asset. We bring the framework, the capital stack architecture, and the buyer pool access.
The first conversation determines whether Π > 0 is demonstrable.

NYC · Institutional · $10M+ minimum
Response within one business day.

Deal submitted.

We’ll be in touch within one business day to determine whether Π > 0 is demonstrable.