# Affiliated Capital

Affiliated Capital is an Asset Manager based in Coral Gables, United States.

## Overview

- **Organization type:** Asset Manager
- **Headquarters:** Coral Gables, United States
- **Region:** North America
- **Address:** Chicago, IL, United States
- **Founded:** 1975
- **Assets under management:** Undisclosed
- **Website:** affiliatedcapital.com

## Regulatory record

- **CRD number:** 329931
- **SEC file number:** 802-135015
- **Registration status:** Registered
- **Reports private funds:** Yes
- **IAPD record:** https://adviserinfo.sec.gov/firm/summary/329931

## About

AFFILIATED CAPITAL is an exempt reporting adviser in CORAL GABLES, FL. It provides investment advice to clients. The firm is headquartered in CORAL GABLES.

## Sectors

- Real Estate
- Private Credit

## People

- James J. Pelts — Chairman

## Questions

### Who runs investment decisions at Affiliated Capital?

James J. Pelts, the founder and Chairman, has led the firm since 1975. All credit and investment decisions flow through his office, reflecting a concentrated, principal-led governance structure. The firm has maintained this centralized decision-making model for nearly five decades.

### Is Affiliated Capital a real estate investment trust or an operating company?

Affiliated Capital is an operating company that originates loans and structures commercial mortgage-backed securities, not a REIT. It maintains its own balance-sheet warehouse line to aggregate loans prior to securitization. The firm retains vertical slices of its CMBS transactions to comply with risk-retention rules.

### What types of loans does Affiliated Capital originate?

The firm originates first-mortgage bridge loans, structured finance facilities, and mezzanine debt for middle-market commercial real estate. Loan sizes range from $5 million to $50 million. Properties financed include office, retail, multifamily, and industrial assets.

### How does Affiliated Capital source deal flow?

The firm sources deals through a long-standing network of mortgage brokers, regional banks, and direct borrower relationships built since the 1970s. Its Chicago base provides access to a deep pool of Midwest commercial real estate sponsors. There is no external sales force or third-party origination agent structure disclosed.

### Does Affiliated Capital manage discretionary funds for outside investors?

No. Affiliated Capital is not a fund manager. It operates as a balance-sheet lender that warehouses loans and sells them via CMBS execution. Investors participate at the security level rather than through commingled blind-pool funds, making it a non-discretionary, deal-by-deal participation model.

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- [Perennial Wealth Advisors](https://altss.com/profile/perennial-wealth-advisors-llc)
- [ASSETALIGN](https://altss.com/profile/assetalign)

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Last updated: 2026-08-14T12:30:00.000Z

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