Cienda Partners

Cienda Partners

Philip Wise and Barry Hancock established Cienda Partners in 2005 as a family office seeded with $10 million of their own capital. The platform grew from the partners' prior real estate activities and now serves more than 40 high-net-worth families and institutional investors. The firm deploys capital across hospitality, workforce housing, urban redevelopment, and mortgage pools. It targets value-add opportunities in Texas, New Mexico, and California. Confirmed holdings include La Fonda on the Plaza in Santa Fe, acquired in 2014 and renovated for its 100th anniversary, the Senza Hotel in Napa acquired in March 2023, and the 34-acre Oak Farms mixed-use site in Dallas assembled through ten separate transactions. Over 82 percent of investments have been sourced off-market. The firm has also participated in mortgage portfolio acquisitions exceeding $1 billion in face value through partnerships with RTR and TCCP. Cienda currently manages equity positions valued at over $200 million on an asset base exceeding $360 million. The team maintains memberships in YPO for Barry Hancock and the Urban Land Institute for Philip Wise. June 2024 marked the opening of the first phase of more than 700 multi-family units at Oak Farms. The firm also sponsors the Southern Gateway Deck Park project, with the first phase scheduled for completion in 2025. Cienda structures investments through direct acquisitions and joint ventures with operating partners rather than broad fund commitments. This approach has produced a 26 percent net IRR on 31 fully realized investments completed with leverage below 39 percent. The model relies on alignment with local operators and an independent board to maintain investor interests across successive projects.