PPR Capital Management recently hosted an Oceanside Chat event in downtown West Palm Beach, FL, bringing together current, former, and prospective investors for an engaging evening of networking and insights. The event featured key members of PPR’s leadership team, including CEO Steve Meyer, COO Chelsea DeLuca, CAO Craig Johnsen, and CCO Bill O’Brien, alongside Investor Relations team members Jalen West, Amy Stavin, Patrick McClatchy, Stefani Baker and Sue Tapper. Here are some key takeaways from the event.
Strategic Growth and Long-Term Vision
Chief Executive Officer, Steve Meyer, opened the Capital Insights discussion by addressing PPR’s growth strategy and positioning for long-term success. Steve emphasized the firm’s overarching goal of providing sustainable returns to investors while mitigating risk through diversified investments across multiple asset classes—a strategy that has enabled PPR to deliver consistent preferred returns for 18 years.
The discussion highlighted PPR Next, the firm’s initiative designed to enhance investor offerings and expand market opportunities while maintaining the disciplined investment approach that has defined PPR’s success.
Non-Performing Loans: Record Performance and Excellence
Chief Asset Officer, Craig Johnsen, delivered updates on PPR’s non-performing loan (NPL) strategy, highlighting the firm’s largest NPL purchases to date in Q1 2025 with just under $230 million in principal balance. Additionally, PPR completed a sale of re-performing loans totaling $55 million in Q2, demonstrating the effectiveness of PPR’s established modification and monetization processes.
NPLs comprise approximately 70% of PPR’s Reliant Income Fund portfolio, representing an asset class where the firm has refined its strategy over 18 years. This expertise enables PPR to consistently acquire and modify first-position loans, converting them into steady sources of cash flow for the fund.
Multifamily Expansion and Build-to-Rent Innovation
Director of Business Development, Amy Stavin, presented PPR’s multifamily investment updates, showcasing the firm’s recent build-to-rent acquisition in Knoxville, TN, and the successful completion of an affordable housing project in Austin, TX. Amy emphasized how PPR’s diversification strategy across various asset classes has enabled the firm to maintain sustainable preferred returns for investors over nearly two decades.
The discussion highlighted unique attributes of build-to-rent investments, including the ability to lease individual homes upon certificate of occupancy rather than waiting for the entire building’s completion. This approach, along with shorter project timelines for subsequent phases, contributes favorably to internal rates of return.
Opportunity Fund Innovation Through Diversification
Steve Meyer also presented updates on PPR’s Opportunity Fund, with Olympus Pines CEO Trevor Sperry in attendance. Steve detailed the extensive underwriting process behind the car wash investment strategy and the partnership with Trevor and Olympus Pines as the operating partner.
During his presentation, Steve explained the rationale behind this asset class, emphasizing unique opportunities for upside participation and significant depreciation benefits not available in the flagship fund. The investment leverages Steve’s personal experience with passive car wash ownership, favorable industry dynamics including private equity acquisition activity, and Olympus Pines’ expertise as the largest franchisee of the Tommy’s Car Wash Express brand.
This expansion reflects PPR’s commitment to growing alongside investors by offering diversified options beyond passive real estate investment, developed through extensive investor conversations about investment goals, shared upside and value creation opportunities.
Interactive Engagement and Dialogue
The event concluded with an open Q&A session, allowing attendees to engage directly with Steve and the PPR leadership panel. This interactive format provided valuable opportunities for candid discussion about PPR’s strategies, market outlook, and investor-specific considerations. It was great to connect with everyone in attendance, and we look forward to a successful rest of 2025 as we continue executing our strategic initiatives and growth plans.
