02 · Platform

Real Estate

A vertically integrated credit platform with senior secured lending backed by alignment across the full project lifecycle.

The Mandate

ONYX Capital is vertically integrated across origination, development oversight, construction execution, collateral management, and asset disposition. By increasing operational visibility and influence throughout the project lifecycle, we better protect investor capital, improve execution outcomes, and create differentiated long-term value.

Active Opportunities

Live pro forma.

United States · By Right Zip Codes

The Modular Frontier Fund I

$100M asset backed PE real estate fund. AI sourced By Right land, Tier 1 modular construction, and Off Grid Integrated infrastructure deliver luxury estates in 6 to 8 months. Capital recycles ~3x over a 24 month window.

Time & Profit

22 to 28%

IRR

Total Volume

3.275x

Equity Multiple

Market Value

10% Cost / 5% Exit

Cap Rate

Operations

$5.0M / Unit

NOI

Liquidity

50% / Cycle

CoC Return

Jan 2026Dec 2027

Fundraise

18%

$18M of $100M

Deployed

$0 of $100M

Origination & Underwriting

Senior secured loans against real estate collateral, sourced from sponsors and projects we know, underwritten to a defined downside before any upside is modeled.

Development & Construction Oversight

Active oversight of development plans and construction execution. Operational visibility throughout the build protects the collateral and the position.

III

Collateral Management & Disposition

Hands-on collateral management and a disciplined path to disposition, with alignment from first dollar deployed to final dollar returned.

Co-Invest

Selective LP capacity.

Limited co-investment opportunities are made available to qualified partners on a parcel-by-parcel basis.

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