Culver City, CA (January 21, 2025)— Real estate investment professionals Brennen Degner and Paul Pittman have launched Platte Canyon Capital (“PCC”), a private real estate investment firm with $30 million in GP capital from funds managed by private equity firm Inceptiv to invest in middle-market multifamily value-add opportunities.
“Our launch comes at a pivotal moment for the multifamily industry,” said Degner, the former founder and CEO of multifamily investment firm DB Capital Management. “Valuations have pulled back significantly over the past few years, creating opportunities we’ve been preparing for. While we haven’t yet seen the widespread distress many have anticipated, we believe it’s inevitable to some degree—and now, with our financial resources, we’re well positioned to act decisively when those opportunities arise.”
PCC will exclusively target mismanaged and undercapitalized multifamily assets in markets characterized by strong fundamentals, growth potential including Dallas, Austin, San Antonio, Denver, and Salt Lake City. With a proprietary acquisition model that emphasizes off-market and pre-market opportunities, PCC aims to unlock value by avoiding the inefficiencies of traditional marketed deals.
“The multifamily sector presents a unique opportunity in the current market, and Platte Canyon Capital is well-positioned to capitalize on it,” added Pittman, who serves as Chairman of the Board. “Brennen’s operational expertise, experience in our targeted markets, and ability to navigate complex investments align perfectly with my focus on strategic growth and disciplined capital deployment. Together, we are building a platform designed to deliver exceptional results while adapting to the evolving dynamics of the industry.”
Inceptiv, a private equity firm based in Culver City, CA, specializes in providing specialty GP capital solutions to real estate independent sponsors. Inceptiv’s commitment highlights its focus on empowering growth-oriented platforms that exhibit strong leadership and a well-defined strategy. By providing bespoke capital structures, Inceptiv enables partners like Platte Canyon Capital to seize market opportunities and achieve meaningful growth.
“We see a compelling opportunity in partnering with Platte Canyon Capital whose principals have a combined $5 billion in transactional experience,” said Hezy Shalev, Managing Partner at Inceptiv. “The PCC management team combines exceptional expertise in multifamily investments with a strategic vision for growth and a proven ability to scale operations. Our investment reflects our confidence in their ability to navigate today’s complex market environment and create significant value for investors.”
With Inceptiv’s support, PCC is positioned to acquire up to $1 billion in assets through joint venture partnerships with moderate leverage over the next three years.
“The past four years have been a crash course in the realities of operating real estate through market cycles,” Degner continued. “We’ve faced challenges head-on and learned a lifetime’s worth of lessons about prudent investing. Those hard-earned insights will guide us as we deploy capital in a disciplined and diligent way. The valuation reset has caused a lot of pain for many operators, and we are not immune to that, but it has also created a once-in-a-cycle opportunity for those who approach the market with clarity and focus.”
Degner will continue to be involved in DB Capital in an advisory capacity.
About Platte Canyon Capital & Inceptiv
Platte Canyon Capital is a Denver-based private real estate investment firm specializing in value-add multifamily properties. With a focus on middle-market assets, PCC leverages deep local expertise, strategic partnerships, and a disciplined approach to sourcing and managing investments.
Inceptiv is a private equity firm based in Culver City, CA, specializing in providing specialty GP capital solutions to real estate and private equity sponsors. With a focus on bespoke capital structures, Inceptiv partners with sponsors to support strategic growth , enabling its partners to scale operations, capitalize on market opportunities, and deliver exceptional outcomes for stakeholders.
For more information, visit www.plattecc.com and www.inceptiv.com
