Capital Asset Management

Joel M. Lerner, as Chairman and CEO, oversees investment strategy and deal sourcing, with Sarah E. Lerner as President managing firm operations. The firm's governance reflects its closely held, family-managed structure. No independent investment committee or outside board representation is disclosed publicly.

The firm primarily uses Delaware Statutory Trust structures to allow individual 1031-exchange investors to acquire fractional interests in institutional-grade commercial properties. These DST interests are sold through a network of independent broker-dealers rather than through direct institutional channels. Target properties include net-leased office, industrial, and retail assets across US secondary markets.

It operates as a registered asset management firm distributing alternative investment products to external accredited investors, not as a single-family office. The Lerner family likely co-invests alongside external clients, but no separate family-office entity is publicly identified. The broker-dealer distribution network is the firm's structural differentiator, replacing institutional LP relationships.

Historically focused on oil and gas royalty trusts and working-interest programs, the firm has recently expanded into renewable-energy credit facilities, including a disclosed community-solar subsidiary formed in September 2023. This shift marks a strategic diversification away from legacy fossil-fuel exposure.

The firm's product structure — DST interests and securitized private placements — typically co-mingles investor capital into single-asset or programmatic vehicles with pro-rata economics. Capital Asset Management does not publicly disclose separate managed accounts or bespoke co-investment programs alongside its standard offerings.