Stabilized and Selective: How Infinity Capital Partners Is Capturing the CRE Credit Opportunity

April 29, 2026

Stabilized and Selective: How Infinity Capital Partners Is Capturing the CRE Credit Opportunity

3:34

In this Dakota Insights interview, Chris LeRoy and Alex deMarco sit down with Ben Easterlin,
Managing Director and Portfolio Manager at Infinity Capital Partners, to explore the firm's
commercial real estate credit strategy and what makes it stand out in today's market.
Infinity Capital Partners has been around since 2002, originally built as a hedge fund-of-funds
platform serving RIAs, foundations, and endowments. Over time, the firm expanded into new
verticals, always through the lens of finding niche, defensive opportunities for its clients.
Commercial real estate entered the picture in 2018 with a focus on low-income housing, and by
2023, Ben's experienced CRE credit team joined to launch the firm's commercial lending
platform.

The strategy centers on senior secured first lien loans against stabilized commercial properties,
primarily multifamily, but also retail, industrial, and self-storage. Ben is deliberate about what
"stabilized" means: these are cash-flowing assets with operating history, not transitional or
construction-era deals. Target returns sit in the mid-teens, with quarterly dividends paid to
investors. As Ben puts it, CRE credit is a strategy where you can count on income from day one,
no reliance on appreciation, no waiting on an exit.

Underwriting is where Infinity truly differentiates itself. The firm reviews a high volume of deals
annually but approves fewer than 6% of them. Each loan passes through a multi-stage process,
from an internal green light memo to third-party property reports, sponsor analysis, and two
separate credit committee reviews. Institutional asset managers, some overseeing tens of
billions in CRE, sit on those committees, bringing a market perspective that sharpens every
credit decision.

Portfolio construction is equally disciplined. The team enforces hard concentration limits by
property type, geography, sponsorship, and tenant, reviewed weekly. No single deal gets
approved in isolation; it's always evaluated against what's already in the portfolio. Loan
parameters reinforce this conservative posture: loan sizes range from $10–$50 million, LTVs are
held at 65–70%, and minimum debt yields and coverage ratios are required at entry to ensure
meaningful equity cushion under stress.

The market backdrop has been a significant tailwind. Regulatory pressure has forced regional
banks, historically the dominant lenders in this middle market space, to pull back sharply. Infinity
has stepped into that void, with loan volume reaching approximately $8 billion in 2025, doubling
from the prior year. With an estimated $940 billion in CRE maturities expected in 2026 and $2.5
trillion by end of 2027, the opportunity set shows no signs of slowing.

Looking ahead, Ben remains most convicted in multifamily, despite broader sector concerns. He
draws a clear line between the troubled transitional loans driving headline delinquency numbers
and the stabilized assets Infinity targets. A persistent housing shortage and affordability crisis,
he argues, make rental demand a long-term structural story, one the firm is well-positioned to
serve.

Disciplined, niche-focused, and deeply experienced, Infinity Capital Partners has built a CRE
credit platform that prioritizes capital preservation without sacrificing returns, exactly what its
institutional client base is looking for.

Listen here: Youtube | Spotify

Written By: Dakota

The Database For Cold Outreach to Reach Institutional and RIA Investors

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