As we enter 2026, the commercial real estate market presents a nuanced opportunity set that rewards disciplined capital allocation and deep sector expertise. After two years of rising interest rates, tightening credit conditions, and recalibrating asset valuations, the market is entering a phase that Interport Capital has been positioning for since our founding in 2021. Our three-tier capital stack approach (CoGP investing, sponsorship partnerships, and limited partner vehicles) provides the flexibility to deploy capital across a range of risk-return profiles, capturing value at every level of the transaction structure. With over $300 million in managed assets across 25-plus platform entities, we are well-placed to act on the opportunities emerging across our three core verticals.
“The dislocation in commercial real estate credit markets has created a once-in-a-cycle opportunity for well-capitalized investors to acquire institutional-quality assets at pricing that reflects temporary market conditions rather than fundamental value.”
The hospitality sector is experiencing a sustained recovery that has fundamentally changed the competitive picture. Revenue per available room across our portfolio exceeded underwriting projections in 2025, driven by strong corporate travel demand, the continued growth of experiential leisure travel, and a limited new supply pipeline in our target markets. Our Kimpton portfolio, anchored by the Claret in Denver and the newly opened Mirador in Pacific Grove, exemplifies our thesis that well-located boutique properties with strong brand affiliations can deliver superior risk-adjusted returns compared to commodity hotel investments. In self-storage, the secular tailwinds that underpinned our original investment thesis remain firmly intact. Household formation, downsizing trends, and the growth of e-commerce fulfillment continue to drive demand for climate-controlled storage space. Our Self-Storage Fund I portfolio achieved 95-plus percent occupancy across all properties, validating our data-driven approach to submarket selection. We are actively evaluating acquisitions for Fund II, targeting an additional 200,000 to 300,000 net rentable square feet in the Northeast and Mid-Atlantic corridors where supply-demand dynamics remain favorable.
General aviation infrastructure represents the most compelling growth opportunity in our current pipeline. The sector remains largely under-institutionalized, with fragmented ownership and limited access to the structured capital that we specialize in deploying. Our partnership with Business Aviation Group provides a differentiated sourcing advantage, and we anticipate committing approximately $150 million to aviation-related investments over the next 24 months. Across all three verticals, we maintain conservative leverage ratios, typically 55 to 65 percent loan-to-value, and favor fixed-rate debt instruments with extended maturities. In the current rate environment, this discipline is not merely prudent; it is a competitive advantage that allows us to hold assets through periods of volatility while more aggressively leveraged competitors are forced to recapitalize or dispose of quality properties at distressed pricing. For our limited partners and co-investment partners, the message is clear: the coming 12 to 18 months will offer some of the most attractive entry points for institutional-quality commercial real estate that we have seen since the firm's inception.
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