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Alternative Assets  + Real Assets  |  January 23, 2025
Platte Canyon Capital Launches with $30M for Value-Add Multifamily Investments
Joe Palmisano
By: Joe Palmisano

Platte Canyon Capital Launches with $30M for Value-Add Multifamily Investments

Platte Canyon Capital (PCC), a private real estate investment firm co-founded by Brennen Degner and Paul Pittman, has launched with $30 million in general partner (GP) capital. The funding comes from Inceptiv, a California-based private equity manager, and will be used to target middle-market multifamily value-add investment opportunities.

Denver-based Platte Canyon Capital (PCC) plans to acquire mismanaged and undercapitalized multifamily assets in key markets, including Dallas, Austin, San Antonio, Denver, and Salt Lake City. The firm will focus on off-market and pre-market opportunities, hoping to capitalize on increasing distress in the market.

“Our launch comes at a pivotal moment for the multifamily industry,” said Degner, former founder and CEO of DB Capital Management. “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 stated that, with Inceptiv’s backing, it is positioned to acquire up to $1 billion in assets through joint ventures utilizing moderate leverage within the next three years.

Degner will continue to be involved in DB Capital in an advisory capacity.

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Platte Canyon Capital Inceptiv

About Joe Palmisano

Joe Palmisano is editorial director of Connect Money, where he oversees daily coverage of alternative assets, direct investments, financial advisory and the economy. He brings three decades of experience as a financial journalist, analyst and portfolio manager. Before joining Connect Money, Palmisano wrote for The Wall Street Journal, covering foreign exchange, global fixed-income and equity markets. He later served as a senior research analyst and portfolio manager, producing market analysis and managing foreign exchange and U.S. equity portfolios for FX Concepts. His work has also appeared in SFO Magazine and CMT Association publications. Palmisano earned a bachelor’s degree in finance from The American University and holds the Chartered Market Technician (CMT) designation and is a member of the CFA Institute.
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