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July 31, 2025

Keelbase Capital

Engst

Roeter

Keelbase Capital announced its launch earlier this month. The new shop, focusing on overleveraged properties and value-add investments, is led by industry veterans Cooper Engst — previously with Eastdil Secured — and Paul Roeter, who departs Cushman & Wakefield. Their goal is to raise up to $250 million in a climate where, in their estimation, about $105 billion in real estate is distressed. “We founded Keelbase Capital to meet the moment,” said Engst. “Property owners face a significant challenge today, with asset values that remain well below the peak and traditional lenders that can't provide cash-neutral refinancing. We're stepping into that void with flexible capital that will give owners a path forward.” Roeter added, “Values have dropped, owners are feeling pressure from lenders, and growing deal volume is finally providing pricing clarity.”




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