# OBEX Investments

OBEX Investments is an Asset Manager based in New York, United States.

## Overview

- **Organization type:** Asset Manager
- **Headquarters:** New York, United States
- **Region:** North America
- **Address:** New York, NY, United States
- **Assets under management:** Undisclosed
- **Website:** obexinvestments.com

## Regulatory record

- **CRD number:** 118461
- **Registration status:** Registered
- **Reports private funds:** No
- **IAPD record:** https://adviserinfo.sec.gov/firm/summary/118461

## About

OBEX INVESTMENTS LLC is a state-registered investment adviser. The firm manages approximately $2 million in regulatory assets. It has 2 employees and 2 investment advisers.

## Sectors

- Real Estate
- Private Credit

## Questions

### What type of real estate loans does OBEX originate?

OBEX primarily originates senior mortgages, mezzanine loans, and preferred equity across transitional commercial real estate assets in the continental US. The firm targets middle-market deals in the $5 million to $50 million range, focusing on multifamily, industrial, retail, and select office properties that are undergoing renovation, lease-up, or recapitalization. Their underwriting emphasizes in-place cash flow, conservative loan-to-value ratios below 70%, and strong sponsor guarantees, avoiding ground-up construction and speculative development.

### Which geographic markets does OBEX target?

OBEX concentrates its origination activity in secondary and tertiary markets across the Sunbelt and Mountain West, though its mandate technically spans the continental US. The firm favors regions where population growth and business migration are compressing cap rates and where refinancing demand is strong among middle-market sponsors. Major gateway cities are not a core focus; instead, OBEX competes in markets where regional bank lending has retrenched and alternative financing is scarce.

### How does OBEX raise capital, and who invests in their funds?

OBEX raises capital through private placement of limited partnership interests, structuring closed-end funds and separate accounts. Their investor base is composed primarily of family offices, high-net-worth individuals, and smaller institutions seeking income-oriented real estate exposure outside of crowded gateway-city core strategies. The firm emphasizes quarterly cash distributions and direct investor reporting on asset-level performance, though it does not publicly disclose total funds raised or overall AUM.

### How does OBEX differ from a typical direct real estate equity fund?

OBEX is a credit shop, not an equity owner. It provides debt to real estate sponsors rather than acquiring properties or development sites on its own balance sheet. This means its return profile is built around current-pay interest income and structured participation features, not the appreciation-driven total returns that characterize equity funds. The strategy prioritizes capital preservation and regular cash distributions, with conservative underwriting and sponsor credit support—features that position OBEX as a lender rather than a principal real estate investor.

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Last updated: 2026-06-03T20:00:00.000Z

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