Real Estate Investment Strategies

An institutional investor and partner in private commercial real estate strategies

ORIX USA’s Real Estate Investment Strategies (“REIS”) group is an experienced commercial real estate investor, operating nationally across the full capital stack. Our team understands the complexities of private real estate and how to assess relative value across strategies. We seek to leverage global market intelligence to actively manage risk and identify compelling risk-adjusted returns.

Platform Capabilities

REIS’s core investment thesis centers on deploying capital at the intersection of strong collateral fundamentals, repeatable sponsor execution, and efficient liability-side financing.

Our platform is designed to support clients throughout the investment lifecycle—whether through senior and subordinate debt, preferred equity, common equity or structured investment vehicles. We invest across the capital stack and provide certainty of execution through dedicated in-house origination, underwriting, closing, servicing, portfolio management, and asset management capabilities.

Investments are supported by robust in-house proprietary analytics, and portfolio monitoring systems that integrate quantitative performance data with qualitative credit oversight. Together, these capabilities allow REIS to focus on optimizing returns across the full capital structure and delivering consistent, through-cycle outcomes.

$8BDeployed since 2015¹

~$3B+Committed Capital²

35Dedicated Professionals

Our Investment Criteria

Private Capital Solutions: Senior Debt, Subordinate Debt, Preferred Equity, Equity
Typical Transaction Size: $20 million+
Property Types: Multifamily properties, including build-to-rent (“BTR”) affordable housing, seniors housing, and student housing; industrial; hospitality; retail; office; self storage, medical office; mixed use
Sponsorship: Middle-Market to Institutional with demonstrated capabilities around business plan execution
Alignment: Significant sponsor co-investment and alignment of interests through material cash equity contributions.
Supported capital deployment: Investment basis relative to collateral valuation, commensurate with capital stack positioning.

Institutional Partnership Formats Offered

Commingled Funds

Vehicles delivering diversified real estate exposure

Joint Ventures

Mutually beneficial partnerships with experienced counterparties to manage and finance real estate investments

Separately Managed Accounts

Customized real estate investments aligned with specific investor objectives

Co-Investment Structures

Additional deployment opportunities for investors in commingled funds

As of 9/30/2025 unless otherwise noted.

REIS loans are serviced by Lument.

¹Represents all non-agency bridge loans on commercial real estate (the “Bridge Loans”) closed since January 2015 by REIS and other investment teams within ORIX USA Group that predate the formation of REIS, and Bridge Loans closed by entities that were fully or partially acquired by ORIX USA including Bridge Loans closed prior to acquisition of such entities. Current management of REIS did not underwrite or manage the Bridge Loans attributable to such predecessor entities and ORIX USA may not have acquired the loans as part of the acquisition of the entities. Further details can be provided upon request.

²Represents ORIX USA balance sheet and third-party capital managed by REIS as of 9/30/25