accredited investors only

High Yields with Significant Downside Protection

The Constitution Real Estate Credit Fund leverages Constitution’s established lending and real estate management platform, proprietary investment sourcing, and banking relationships to create a diversified fund of performing and non-performing loans secured by real estate.

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Constitution is an investment firm focused on the real estate credit and financing industry

600+

Apartments Managed in the Northeast

$250MM+

Real Estate Loans Originated

$100MM+

Nonperforming Loans Acquired

Our approach

A Foundation of Security: Low LTV Ratios
By investing in senior real estate debt with substantial equity cushions we prioritize the preservation of capital but also position ourselves to capture attractive, risk-adjusted returns
Dual Engine Returns
Our unique approach combines investing in performing and non-performing loans secured by real estate. This allows us to generate consistent income from performing loans while also offering the potential for 20%+ yields and discounted real estate acquisitions through non-performing loans
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*Results from Jan 2024 - Sept 2025. Past performance is not a guarantee of future results

Historical returns

JAN
FEB
MARCH
APRIL
MAY
JUNE
JULY
AUG
SEPT
OCT
NOV
DEC
YTD
2025
10.27%
2.18%
2.25%
2.52%
0.61%
1.63%
2.32%
3.92%
1.70%
31.76%
2024
-1.21%
2.85%
6.59%
3.38%
5.84%
5.78%
4.68%
3.83%
0.06%
2.69%
4.23%
8.02%
57.60%

The team

Kyle O’Hehir

Distressed Credit

Started his career in fixed income on a trading desk at J.P. Morgan before joining multi-strategy hedge fund Millennium. In 2018, Kyle joined Constitution. He has sourced and executed on over $40mm in distressed credit opportunities and has experience investing in first and second lien mortgages, tax liens, and equity. He holds a bachelor of science in mathematics from the University of Maryland.

Ricardo Sims

Performing Credit

Ricardo worked on linear rates and equity derivatives trading with Citi before leaving to join a rates hedge fund. He joined Constitution in 2020 and grew the originations business from a cold start to a team of 5 with over $100mm of loans made and $0 of principal loss. He holds a bachelor of science in finance from Florida International University.

Joseph Motta

Real Estate & Construction

Joe founded Constitution with Kyle in 2018 after working at Four Springs Capital Trust and a boutique investment bank. He runs real estate acquisitions and construction; growing the portfolio from 0 to $100mm and managing $120mm+ of value-add deals. He holds a bachelor of science in finance from Marist College.

Partners

Fund Administrator
EFSI
Audit/Tax
Akram

Invest in senior real estate debt today

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Fund Specific Disclosures:
An investment in the Fund is illiquid and there is no readily available market for the Fund's shares.

The Fund is a high-risk investment. This means there is a significant chance that you could lose all or a substantial portion of your investment. The Fund may use leverage, which can magnify both gains and losses. The Fund's investments are subject to the performance of the underlying real estate assets. The value of real estate can be volatile and can be significantly impacted by a variety of factors, such as economic conditions, interest rates, and changes in supply and demand. There is no guarantee that the Fund will meet its investment objectives. The Fund's fees and expenses may reduce returns. Investors should carefully review the Fund's offering materials for a complete description of the fees and expenses.