Disciplined, rigorous,
committed
A U.S.-based, fully integrated real estate manager and operator, focused on providing direct investment opportunities to individual and institutional investors.
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A U.S.-based, fully integrated real estate manager and operator, focused on providing direct investment opportunities to individual and institutional investors.
We structure, execute and operate real estate investments in the U.S. through a data-driven, disciplined approach — and we keep our investors informed about every aspect of their portfolio, at all times.
We invest alongside our investors — pari passu, from our own balance sheet — in every single deal.
We vet every opportunity, put deals under contract, structure legal entities, secure financing, sign loan guaranties, execute closings and operate each asset ourselves. There is no double fee structure.
We go after opportunities that we know how to address, in strategies and markets we understand in depth.
Seven investment vehicles across residential, commercial, private debt and special situations — with USD $200M+ in assets currently under management across 10 states.
Fundraising
Invested
Active
Invested
Invested
Wind-down
RealizedLuis Felipe San Martín establishes Frontal Trust U.S. as partner and CEO, opening the Miami office. First fund: Residential Credit Opportunity, acquiring short-duration mortgage-backed loans.
Second fund: acquisition of a 140-unit residential portfolio in Miami, FL. The firm becomes a GP and creates its own property management company.
Third fund: acquisition of 19 single-tenant medical NNN properties across 10 states.
Luis Felipe San Martín acquires 100% of the operation and rebrands the company as 12ten Capital, keeping the entire executive team in place. Four new partners join the firm. Launch of the first residential build-to-rent development in Spring Hill, FL.
Acquisition of a multifamily building in Dallas, TX. 12ten co-invests and takes control of a 158-unit residential community in Richardson, TX as asset manager.
Launch of the firm's fifth fund to capitalize on the price correction in the U.S. multifamily market. Distribution agreement with BTG Pactual. Acquisition of Harper's Mill (180 units, Houston TX).
