The Client is our #1 priority
Creative sourcing of niche investment opportunities
We value patience, diligence, and total return maximization
Delivering attractive risk adjusted returns with low correlation to the broader markets
Our Firm
Cielo Cornerstone is an investment management firm focused on delivering attractive total returns to our network of sophisticated high-net-worth and family office clients. Cielo Cornerstone identifies alternative real estate investments with the potential to generate alpha and stabilized current cash flow and strong current yield.
Ryan has been engaged in sourcing, structuring and financing investments tailored to high net-worth and family office investors since 1992. He is a partner in Market Street Group, LLC, which co-owns and manages 17 multifamily and mobile home communities in the southeastern U.S. with an estimated value in excess of $60 million after liquidating nearly 40 other properties in 2018 and 2019 alone and returning over $100 million in cash to investors (with an average ROI of well over 1.4x to date). From 2004 until mid-2010, he was co-manager of Waveland Capital Group, which invested capital from high net-worth investors in venture capital, medical technology, and oil and gas exploration opportunities and which became one of the most prominent investment firms in Orange County. Prior to joining Waveland in 2001, Ryan served in analytical roles for two substantial real estate investment companies: commercial investor and developer SIA Partners Ltd. from 1992 until 1995 and diversified institutional investor Nearon Enterprises from 1995 until 1997. Ryan is a graduate of the University of California, Berkeley and received an MBA from the Thunderbird School of Global Management (now operated by Arizona State University).
Mick is a proven executive with over 20 years of professional experience in corporate development, strategic management, and finance. Most recently as a Partner and COO/CFO of WMD Asset Management, LLC (a start-up investment management firm specializing in distressed debt and real estate), Mr. Thomas was responsible for organizing, structuring and developing an SEC-registered investment management company and its infrastructure from the ground up. Over a seven-year period, Mick played a lead role in growing WMD Asset Management from zero to over $500 million in assets under management and net fund income of over $40 million annually. Mick developed and oversaw all company operations, financial planning, budgeting and forecasting, accounting, tax, treasury, risk management, valuation, reporting, asset and property management, trade settlement and custody, legal and regulatory compliance, insurance, policies and procedures, internal controls, and information systems and technology.
DIFFERENTIATED INVESTMENT PHILOSOPHY
Focus on niche underserved investment classes and unique opportunities where inefficiencies exist
Invest in stabilized and durable current cash flow with moderate growth expectations (target investments have a current yield of 6% to 10%)
Use of moderate leverage at property level (50% to 75% leverage)
Ability to manage liquidity and obtain compelling entry pricing
Low volatility due to compelling supply/demand dynamics and low correlation to broader economic conditions
Potential for value-add and capital appreciation
FOCUS ON ALTERNATIVE REAL ESTATE
Market Inefficiency
Target sectors characterized by favorable market structures with greater inefficiency—ability to generate alphaFavorable Demographic Trends and Market Characteristics
Investments are made in locations experiencing favorable demographic trends and attractive supply and demand characteristicsMarket Fragmentation Consolidation Opportunity
Target sectors are highly fragmented; Value is enhanced through asset consolidation and scaleLow Correlation to Broader Economy
Target sectors and markets are recession-resistant or counter-cyclicalTax Efficient
Depreciation significantly reduces current taxable income while long-term capital gains treatment and the opportunity to complete a 1031 exchange significantly reduces and/or defers taxes
RESPONSIBILITY TO OUR CLIENTS
Our fiduciary responsibility to clients is our number one job
Prioritize capital preservation
We invest alongside our clients
Clients receive priority cash flow ahead of our carried interest
Alternative real estate investment is our sole source of income
Employ best-in-class management partners and operations platforms