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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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About Joe Palmisano

Joe Palmisano is Editorial Director for Connect Money, where he brings nearly three decades experience of market insights as a financial journalist, analyst and senior portfolio manager for leading financial publications, advisory firms, and hedge funds. In his role as Editorial Director, Joe is responsible for the selection of content and creation of daily business news covering the financial markets, including Alternative Assets, Direct Investment and Financial Advisory services. Before joining Connect Money, Joe was a financial journalist for the Wall Street Journal, regularly publishing feature stories and trend pieces on the foreign exchange, global fixed income and equity markets. Joe parlayed his experience as a financial journalist into roles as a Senior Research Analyst and Portfolio Manager, writing daily and weekly market analysis and managing a FX and US equity portfolio. Joe was also a contributing writer for industry magazines and publications, including SFO Magazine and the CMT Association. Joe earned a B.S.B.A. in Finance from The American University. He holds the Chartered Market Technician (CMT) designation and is a member of the CFA Institute.
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