Margin of Safety
We seek quality repositioning projects trading at a discount to intrinsic or stabilized value, creating a margin of safety against project-specific and market risks.
Levered Asset Principal Investment Company
Opportunistic investing with a long-term perspective.
Alternatives manager with a focus on real property assets, technology, and real estate operating companies since 1977.
Investment PhilosophyAbout Lapinco
Five decades of delivering investment alpha in the property markets.
Lapinco, the Levered Asset Principal Investment Company, is an alternative asset management firm founded in the 1970s as a local infrastructure developer for multinational petroleum firms expanding their presence in the Middle East. The firm relocated to the United States in 1977 and began making direct investments in real property assets and real estate operating companies, with an emphasis on opportunistic investments and value-add projects on the East Coast.
In 1986, Lapinco opened a California office and expanded operations to the West Coast. Today, Lapinco manages a diversified portfolio of retail, industrial, and residential properties and real estate operating companies consisting of more than 30 properties stretching from the Atlantic Ocean to the Pacific Coast. Headquarters office is in Los Angeles, CA, with the East Coast office in Boston, MA, and affiliate offices in Austin, TX and Dubai, UAE.
1977U.S. operations
30+Properties
$200MM+Assets under management
Investment Philosophy
A disciplined approach to creating durable value.
Long-Term Focus
Property assets are among the best performing investments on a long-term inflation-adjusted basis, provided they are actively managed and conservatively financed through the economic cycle.
Management Alpha
Active management is a significant driver of investment alpha. We develop actionable repositioning strategies before acquisition, focused on revenue growth, operating efficiency, and realistic project milestones.
Integrity & Local Relationships
For almost 50 years, Lapinco has built relationships based on integrity, loyalty, and respect for the communities in which we invest. Local partners help us deliver best-in-class service to our tenants and their customers.
Deep Market Research
We invest heavily in gathering the best quality, most timely market data and the best AI tools to wrangle and process that data into actionable decisions. We combine statistical analysis with primary market research through longstanding brokerage relationships and direct market visits by senior partners.
Design as a Driver of Value
Our redevelopment experience differentiates Lapinco. We incorporate our design team during pre-acquisition planning because the right product and design for a specific market can materially drive ROI.
Investments
Selected record.
Eight representative projects acquired between 1998 and 2022 across California and Massachusetts. Scroll through the record below to bring each investment into focus and see its performance build in real time.
8Case studies · 5 realized, 3 held
3.22×Realized value multiple
13.7–44.4%Realized IRR range, actual
7.3 yrsMedian realized hold
Pasadena I
Mixed-UseInvestment performance
0.0%Actual IRR · realized
- Value multiple
- 0.00×
- CAGR
- 0.0%
- IRR (unlevered)
- 0.0%
Los Angeles I
MultifamilyInvestment performance
0.0%Actual IRR · current
- Current multiple
- 0.00×
- CAGR
- 0.0%
- IRR (unlevered)
- 0.0%
Boston I
RetailInvestment performance
0.0%Actual IRR · current
- Current multiple
- 0.00×
- CAGR
- 0.0%
- IRR (unlevered)
- 0.0%
Beverly I
ResidentialInvestment performance
0.0%Actual IRR · realized
- Value multiple
- 0.00×
- CAGR
- 0.0%
- IRR (unlevered)
- 0.0%
Pasadena II
Mixed-UseInvestment performance
0.0%Actual IRR · realized
- Value multiple
- 0.00×
- CAGR
- 0.0%
- IRR (unlevered)
- 0.0%
Los Angeles II
Mixed-UseInvestment performance
0.0%Actual IRR · realized
- Value multiple
- 0.00×
- CAGR
- 0.0%
- IRR (unlevered)
- 0.0%
Boston II
RetailInvestment performance
0.0%Actual IRR · current
- Current multiple
- 0.00×
- CAGR
- 0.0%
- IRR (unlevered)
- 0.0%
Beverly II
Mixed-UseInvestment performance
0.0%Actual IRR · realized
- Value multiple
- 0.00×
- CAGR
- 0.0%
- IRR (unlevered)
- 0.0%
Entry basis (1.0×)Value createdUnrealized
Bars are drawn to a common scale across all eight projects; full width = 5.37×. Unlevered IRR excludes financing; actual IRR reflects the capital structure employed. Assets held in the portfolio are carried at current fair market value — their multiples and returns are unrealized and not yet crystallized on exit.
Contact
Investment opportunities.
Strategic relationships.
Lapinco has offices in Los Angeles and Boston, with affiliate offices in Dubai, UAE and Austin, TX.
Contact Lapinco