While the market is walking away from office, we are walking in.

PILLAR Real Estate Fund is a private real estate investment fund focused on acquiring distressed office assets at below-replacement-cost pricing. The fund targets properties in high-demand markets where office demand is recovering and partners with Regus as an anchor tenant to create immediate cash flow.

Distressed office real estate refers to commercial office properties trading at significant discounts to their intrinsic value, typically due to high vacancy, debt maturity challenges, or owner financial distress, rather than fundamental problems with the asset or its location. PILLAR targets properties priced at 50-80% below replacement cost where demand fundamentals are recovering.

PILLAR is structured as a closed-end private equity real estate fund with a five-year investment period and a ten-year term, with extension provisions. The fund is organized as a Delaware LP, giving the investment team a defined window to acquire, reposition, and exit assets in a disciplined manner.

Regus, operated by IWG plc, is structured as an anchor tenant in PILLAR's acquired office properties. This creates predictable rental income from day one of acquisition, not after a speculative lease-up period. With 3,000+ centers globally and 83% of Fortune 500 companies as clients, Regus provides enterprise-grade demand that is contracted, not speculative.

PILLAR is open to accredited investors as defined by the SEC, generally individuals with a net worth exceeding $1 million (excluding primary residence) or annual income exceeding $200,000 ($300,000 jointly). The minimum investment is $250,000. Family offices, multi-family offices, and institutional investors are also welcome to inquire.

PILLAR is targeting $50M in total fund size. The fund targets returns expressed as Net IRR and Net MOIC - [exact target figures to be confirmed with Mo before publishing], generated through a combination of rental income from Regus anchor tenancy and asset appreciation over the hold period. These are targets, not guarantees. Actual returns will depend on market conditions, asset performance, and other factors disclosed in the fund documents.

Like all private real estate investments, PILLAR carries risks including market and property-level risk, illiquidity, tenant credit risk, interest rate risk, and general economic conditions. The fund's contrarian thesis may not materialize on the expected timeline. Investors should review the full risk disclosures in the offering documents and consult their own financial and legal advisors before investing.

Complete the brief request form on this page. You will receive the PILLAR Investment Brief within 24 hours. If you meet the accredited investor criteria and your interest aligns with the fund, we will follow up to schedule a private investor briefing call with the team.

PILLAR's thesis is contrarian: office real estate is currently priced at 50-80% below replacement cost in many markets due to pandemic-era vacancy concerns. However, return-to-office trends are recovering - currently at approximately 70% of pre-pandemic levels and growing. PILLAR acquires assets at distressed prices, stabilizes them through the Regus partnership, and positions investors to benefit from both current yield and long-term asset appreciation as the market normalizes.

PILLAR focuses on high-growth US markets with strong return-to-office trends and improving flexible workspace demand - primarily Texas (Austin, Dallas, Houston), Florida (Miami, Tampa, Orlando), and the broader Southeast US. These markets are characterized by corporate relocation activity, population growth, and office demand recovery ahead of traditional gateway cities.

Approximately $1.8 trillion in commercial real estate loans are maturing between 2024 and 2026. Many of these loans - particularly office - were originated when values were higher and cannot be refinanced at current rates or valuations. This is creating forced dispositions and distressed pricing across the office sector. PILLAR is positioned to acquire these assets at below-replacement-cost pricing precisely when motivated sellers need to transact.

Replacement cost is what it would cost to build an equivalent office building today - including land, construction, and soft costs. When PILLAR acquires a property at 50-80% below replacement cost, it means the fund is buying a completed, operational asset for significantly less than its construction value. This creates a structural margin of safety: even if values do not recover, the fund has not overpaid relative to intrinsic value. If values do recover toward replacement cost, the appreciation potential is substantial.

PILLAR is led by Christian Mack, Chairman of Terra Rossa Family Office, with over 25 years of experience in capital formation and over $1.2 billion in capital raised across his career. The team includes experienced real estate operators and asset managers with backgrounds in commercial acquisitions, flexible workspace operations, and fund management.

Yes. PILLAR welcomes family offices, multi-family offices, RIAs, and institutional investors alongside individual accredited investors. If you represent a family office or institution with interest in private real estate alternatives, please request the Investment Brief and indicate your interest in the form.

Investments through self-directed IRAs and certain retirement accounts may be possible depending on your account custodian and structure. This is a complex area with specific rules around UBTI (Unrelated Business Taxable Income) and other considerations. PILLAR recommends consulting with your tax advisor and account custodian before pursuing this route.

After you request the Investment Brief, you will receive it by email within 24 hours. Our team reviews all inquiries and follows up to schedule a private investor briefing call for qualified prospects, with no obligation.