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Astamar Asset Management

Capital.
Disciplined.
Delivered.

A global private equity real estate platform focused on income-producing assets, capital preservation, and disciplined underwriting across the U.S., Dubai, and Mexico.

View Track Record Our Philosophy
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$400M
Assets Under Management
Global real estate platform
16.7%
Blended IRR
Across performing assets
$850M+
Total Transaction Volume
Acquisitions + financing
3
Active Fund Vehicles
Lat 20 · Lat 25 · Lat 38
Our Philosophy

Conviction over
consensus.

At Astamar, we build income first — and let returns follow. Our platform is focused on acquiring, developing, and managing institutional-quality real estate assets across the U.S., Mexico, and Dubai, with an emphasis on quarterly cash flow, value creation through active asset management, and defined exit strategies.


Our underwriting starts with downside protection: income-first analysis based on in-place NOI, DSCR discipline above 1.25×, and majority allocation to stabilized U.S. multifamily. International exposure is selective and not required to achieve target returns.

A
Est. 2007

Institutional precision.
Entrepreneurial agility.

Leadership

The team behind
the strategy.

Carlo Dupone
Carlo
Dupone
Founder, Chief Executive Officer & Investment Manager

Carlo oversees fund strategy, acquisitions, capital deployment, and investor relations across the Astamar platform. He is also Founder of Dupone Capital and Co-Founder of Strategic Equities, a capital structuring and mortgage platform with over $4 billion in total transaction and financing volume. He began his career at Dean Witter and later Merrill Lynch, where he managed approximately $800 million in retirement portfolios — an institutional foundation that informs his disciplined, risk-adjusted approach today. Carlo has focused on the full lifecycle of multifamily and commercial real estate: acquisitions, financing, renovation, and disposition. His track record includes execution of 50–250 unit acquisitions in single transactions, placement of over $250M in debt financing, oversight of a $150M real estate debt portfolio, and delivery of six ground-up development projects.

Fund Strategy $250M+ Debt Placed 6 Ground-Up Developments $4B+ Transaction Volume
Dalia Ozden Avsar
Dalia
Ozden Avsar
Co-Principal & Strategic Advisor

Dalia provides strategic oversight and supports investor relations and international capital development initiatives across the Astamar platform. She brings decades of experience across global markets, spanning real estate investment and advisory, international business development, and capital sourcing. Her role encompasses the strategic positioning of the Fund, investor engagement and communications, and the expansion of Astamar's global investor networks.

Strategic Oversight Investor Relations International Capital Global Networks
Track Record

Five performing assets.
16.7% blended IRR.

Astamar's track record reflects zero losses on the core income portfolio — consistent cash yields of 8–12% achieved without aggressive leverage. The figures below represent an illustrative subset of the broader portfolio across four U.S. markets. Blended IRR: 16.7%. Loss ratio of 6.7% is concentrated exclusively in development-stage assets.

Asset Units Market Purchase Price Cash Yield IRR MOIC Status
Houston Multifamily Portfolio 226 Houston, TX $14.6M 11.9% 17.8% 1.6× Performing
Houston Multifamily Asset 120 Houston, TX $7.2M 9.3% 15.2% 1.4× Performing
Astoria Multifamily Asset 100 Astoria, OR $13.9M 12.4% 18.9% 1.7× Performing
Oakland Mixed-Use Asset 98 Oakland, CA $14.2M 8.9% 13.6% 1.3× Performing
Portfolio Average 544 units 4 U.S. markets $49.9M total 10.6% 16.4% 1.5× All Performing

Illustrative subset of a broader portfolio of income-producing assets under management. IRR and MOIC figures are unaudited and shown for illustrative purposes only. Realized IRR: 14.2% | Unrealized IRR: 18.6% | Avg hold period: 3.7 years | Loss ratio: 6.7% (concentrated in development-stage assets; core income portfolio has zero impairment). Past performance is not indicative of future results. This material does not constitute an offer or solicitation to buy or sell any security. For accredited and institutional investors only.

Investment Strategies

Where we
deploy capital.

◈
Latitude 38

U.S. Class B/C workforce multifamily — all-cash, no leverage. Targeting 90–500+ unit acquisitions in high-demand rental markets with 3–4 year business plans. 8% preferred return · 10–16.7% target IRR · $50K minimum.

◇
Latitude 25

Dubai REIT — mixed-use, branded residential, and STR-optimized assets anchored by the Little Mexico master community in Dubai South. 8% preferred return · 18–22% target IRR · Institutional.

◉
Latitude 20

Hybrid global — luxury development and income across three markets: U.S., Dubai, and Mexico. Flagship asset: Zerenity Punta Mita oceanfront development. 8–10% preferred return · 16–20% target IRR · $50K minimum.

Active & Upcoming Opportunities

Current deal portfolio.

Click any deal to access the full investment presentation.

Active · Seeking Investors
🇦🇪  Warsan 4 · Dubai · UAE
Al Warsan #4
Building 1
100% complete freehold residential. 78 units. Acquired at AED 950/sqft. Immediate sell-down — zero construction risk.
$15.6M
Acquisition
8%+ p.a.
Pref. Return
View Investment Deck →
Active · Seeking Investors
🇺🇸  Bakersfield · California · USA
Cedarvale
Apartments
40-unit workforce housing. All-cash acquisition. In-place NOI $363K · 6.5% cap rate · stabilized at 8.1%. Zero debt.
$5.6M
Purchase Price
8.1%
Stabilized Cap
View Investment Deck →
Active · Seeking Investors
🇺🇸  Arcata · California · USA
Woodridge
Apartments
126-unit multifamily adjacent to Cal Poly Humboldt. 8.44% going-in cap. RUBS + lease-up drive $170–215K NOI upside.
$12M
Offering Price
22% IRR
Base Case · 3yr
View Investment Deck →
Coming Soon
🇲🇽  Punta Mita · Nayarit · Mexico
Zerenity
Collection
70 luxury oceanfront residences on 20 acres at Punta Mita. $265M gross sales value. 20% target IRR · 30–42 month hold.
$265M
Gross Sales
20% IRR
Target Return
Preview Deck →
Coming Soon
🇦🇪  Dubai South · Al Maktoum · UAE
Little
Mexico
600 luxury STR-ready residences across 3 towers at Dubai South. 100K sqft retail & dining. 8% pref · 18% target IRR.
600
Residences
18% IRR
Target Return
Preview Deck →
More deals
coming.
Register your investment interest to receive priority access to new opportunities before they are announced.
Register Interest →

All offerings available to accredited investors only · Reg D Rule 506(c) · verifyinvestor.com

Investment Platforms

Three funds.
One platform.

U.S. Multifamily
Latitude 38
Workforce Housing · All-Cash Structure
Preferred Return 8%
Target IRR 10–16.7%
Cash on Cash 6–10% / yr
Minimum Investment $50,000
Hold Period 3–4 Years
Distributions Quarterly
Dubai · UAE
Latitude 25
Dubai REIT · Branded Residential · STR
Preferred Return 8% Quarterly
Target IRR 18–22%
Equity Multiple 2.0x–2.4x
Initial Raise $200M
Total GDV $300–330M
Investor Profile Institutional
U.S. · Dubai · Mexico
Latitude 20
Hybrid Global · Luxury Development
Preferred Return 8–10%
Target IRR 16–20%
Equity Multiple 1.8x–2.3x
Minimum Investment $50,000
Hold Period 30–42 Months
Distributions Quarterly
Market Timing

Why 2025–2026
is the entry window.

Latitude 38 · U.S. Multifamily
67%
Drop in multifamily new supply from 2022 peak
  • Higher borrowing costs have pressured pricing, enabling all-cash acquisitions below replacement cost
  • Workforce housing demand is structural — essential workers in agriculture, logistics, and healthcare
  • Strongest vintage entry point in the current cycle for income-focused buyers
  • Zero debt exposure means zero interest rate risk — a structural edge no leveraged competitor can match
Latitude 25 · Dubai REIT
$1,190
Dubai prime price per sq ft vs. NYC at $2,732
  • 200,000+ new residents annually — 92% expatriate workforce creates permanent rental demand
  • Al Maktoum Airport: 260M passenger capacity, the world's largest when complete
  • Wynn Casino District (2030) and Trump Mega Resort entering peak development phase
  • Little Mexico is the only Mexican-themed master community in the UAE — cultural IP cannot be copied
Latitude 20 · Punta Mita
40–53%
Development margin vs. 25–35% industry benchmark
  • Oceanfront parcels suitable for large-scale development in Punta Mita are nearly exhausted
  • Buyer pre-sale deposits of up to 30% validate pricing before peak capital deployment
  • Phased construction — townhomes first — enables capital recycling to fund the tower phase
  • International demand for sustainable luxury residences accelerating across all buyer profiles
Currently Allocating Capital

We don't chase deals.
We allocate capital with discipline.

Selective allocation remains available for qualified investors seeking exposure to Astamar's real estate platform. Additional materials, pipeline discussions, and next-step conversations are available upon request.

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