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Kite is a technology powered platform created to streamline the borrowing and lending process for high end luxury single-family development.
We are targeting an initial raise of $265mm, comprised of a lending facility that is being provided by an international investment bank along with a group of LP’s. Kite’s strategy is to provide debt financing to developers of ultra-luxury single-family residences in premier markets.
With more than 50 years of combined experience in ultra-luxury development, real estate investment, construction, and risk management, the principals bring a unique combination of market knowledge and execution capability. This background enables Kite to structure bespoke lending solutions, anticipate and manage risk, and identify projects positioned to deliver superior outcomes. Our core conviction is that exceptional product consistently outperforms the broader market.
As of 2025, the U.S. ultra luxury residential sector is valued at $290 billion. While luxury single-family development is not delineated in most industry estimates, nearly $1 trillion constitutes single-family projects nationwide, which include a significant percentage within the luxury tier. With the luxury single-family market representing several hundred billion dollars in active development, it underscores a large and durable opportunity for disciplined capital deployment.
Investment Philosophy
Kite’s approach begins with careful borrower and asset selection. Once engaged, we enhance each project with a combination of strategic capital and technology-driven oversight. The proprietary integration of various tools provide real-time schedule tracking, budget monitoring, draw requisition management, and insurance compliance. This integration allows Kite not only to provide funding, but also to support execution—creating efficiencies that reduce costs, accelerate timelines, ultimately positioning projects for maximum returns.
Capital Protection
Principal protection is central to Kite’s strategy. We maintain a conservative maximum 70% loan-to-value (or, where appropriate, loan-to-cost) threshold. Unlike competitors that rely on higher leverage to drive returns, our approach emphasizes disciplined risk-adjusted performance. We believe this positioning provides stronger downside protection while still generating competitive unlevered returns—an advantage underscored by current market conditions. Realized proceeds will be re-invested into new loans during the investment period.
Strategic Advantage
Having operated as borrowers ourselves, we understand the importance of speed and certainty. Kite’s structure enables developers to acquire sites, advance design and planning, and begin construction without relying upon traditional bank financing. This agility provides a competitive advantage, reduces costs, and streamlines the development process—enhancing both borrower success and Kite’s performance.
Market Resilience
Ultra-luxury single-family projects are uniquely positioned to withstand rising interest rates and cost pressures. Their elevated price points allow developers to absorb incremental costs, while buyers in this segment typically rely less on traditional financing and are less sensitive to rate volatility. This dynamic provides further stability to Kite’s portfolio.
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Investment Summary
The Offering:
$265MM, of which $65MM will be L.P. capital.
The Fund:
Closed-ended with a 5 year term, with two
one-year extension options.
Target Returns:
1.4x net multiple and 12% net IRR
Loan Origination Fee:
100% directly to the fund
Management Fees:
2% of AUM
Our first fund, Kite Equity Fund 1, L.P. is a closed-ended vehicle targeting $265 million in capital which is made up of $65 million of L.P. equity and $200 million of back leverage to finance luxury single-family home developments through our proprietary platform. Kite provides investors with direct exposure to a niche segment of the real estate market with favorable growth dynamics. The minimum L.P. investment is $250,000 and is limited to accredited investors.
Kite is designed to deliver attractive, investor-friendly economics, targeting a 1.4x net multiple and a 12% net IRR. Investors benefit from a streamlined fee structure: 100% of loan origination fees flow directly to the Fund, while management fees are capped at 2% of AUM. Unlike many peers, Kite does not charge acquisition, disposition, servicing, or GP catch-up fees, aligning the manager’s interests with those of investors.
Kite’s founders are contributing all initial startup costs which include but are not limited to the creation of the Kite technology platform.
Our Difference
We originated as developers, which provides us with a uniquely comprehensive perspective on the design, planning, and construction of projects from inception through completion. The firm’s founding experience, which includes building record breaking homes in Aspen, Miami, New York and The Hamptons, extends across the capital stack, including acquisition and construction financing, as well as bridge and mezzanine lending through both major financial institutions and private capital providers.
This breadth of expertise enables us to evaluate potential loans from a vantage point distinct from traditional lenders. By leveraging a deep understanding of the development process, we are able to advise borrowers with precision and guide them toward capital structures and loan products that align with both their project requirements and long-term objectives. Our dual experience as developers and borrowers affords our clients access to additional resources that span the full development cycle. This capability strengthens execution and mitigates overall loan risk.
Competitive Advantages
Successful lenders differentiate themselves by:
Offering speed and certainty of execution, something banks cannot always match.
Providing flexible structures (e.g., interest reserves, step-up rate features, profit participation).
Bringing strategic expertise, helping borrowers with budgeting, draw processes, and even project positioning.
These tools enhance efficiency and accuracy, helping to reduce errors, minimize idle time, and ultimately lower both borrower risk and overall project costs.
Borrower Acquisition
Referrals & Professional Networks are still the #1 source of quality borrowers.
Developers & Builders: Maintain direct relationships; sponsor local builder associations and development panels.
Brokers & Advisors: Partner with debt brokers, real estate attorneys, and accountants who refer active developers. Offer co-marketing or referral fees when compliant.
Architects & Project Managers: These professionals often know who’s planning a new project before it hits the market.
The Underwriting Process
Underwriting goes far beyond spreadsheets. Kite will analyze the viability of a loan based on:
Developer track record and reputation.
Land valuation and irreplaceability.
Design pedigree (notable architects, landscape designers).
Market depth and recent comparables.
Budget contingencies and cost management.
In addition, the integration of select software and technology—outlined in greater detail later in this presentation—serves as a key component of our competitive advantage. These tools provide borrowers with a streamlined and secure platform for sharing underwriting documentation, including personal and financial information, project plans, specifications, schedules, and budgets.
The Unlikely Event of Default
In circumstances where a borrower encounters challenges in project completion—or, in a worst-case scenario, defaults—our experience and extensive resource network position us to either provide the necessary support to bring the project to completion or assume stewardship of the project in its entirety
The Platform
Technology as a Competitive Advantage
Kite’s platform is creating a proprietary platform that will provide our borrowers with access to advanced industry technologies that support a project’s loan, budgeting, draw requests, construction monitoring and insurance needs.
In today’s real estate lending environment, technology is a key differentiator. By leveraging advanced software and digital platforms, Kite will streamline the debt origination and management process, creating faster execution, greater accuracy, and more predictable outcomes. For investors, this translates directly into stronger portfolio performance, reduced risk, and enhanced scalability.
Faster Loan Origination & Deployment of Capital
Digital application portals and automated intake systems with accelerate the borrower onboarding process. This reduces bottlenecks, thus shortening the time required for capital to be deployed into high-quality opportunities, directly increasing velocity and IRR potential for investors.
Data-Driven Underwriting & Risk Mitigation
AI-enabled underwriting tools analyze budgets, borrower financials, and project feasibility against benchmarks in real time. Our loan origination system normalizes borrower and project data, pushes the data through our scoring models, AI decision engines, and rule systems, to flags any exceptions for review. This automated stress-testing and anomaly detection reduce human error and provide a more consistent, disciplined risk framework—ensuring that only sound deals move forward.
Efficiency in Construction Loan Management
Integrated construction management platforms connect directly with draw request systems. Borrowers, contractors, and lenders can not only track budget performance and project milestones in real time through the Kite portal, but also access a layer-by-layer 3D model of the project’s build, giving the ability for near instantaneous draw funding without the need for onsite inspections. This transparency minimizes delays, reduces idle capital, and ensures investor dollars are working efficiently
Lower Operating Costs & Higher Margins
By automating repetitive tasks—document review, data extraction, compliance checks, budget reconciliation in draws— Kite will reduce administrative overhead lowering operating costs, which translate into higher net returns for the platform, creating an efficiency edge over traditional, manually driven lenders.
Enhanced Transparency & Investor Confidence
Centralized dashboards provide investors with a clear line of sight into loan performance, disbursement activity, and portfolio risk metrics such as portfolio yield and cashflow, while still enabling drill-down to loan & project-level progress when desired. This level of real-time reporting builds investor trust and differentiates the platform in an industry often criticized for opacity.
Scalable Growth Platform
Most importantly, technology creates scalability. A technology-enabled lender can process and manage significantly more loans without a proportional increase in headcount. This operating leverage positions the platform to capture outsized market share in the fragmented, under-served luxury development lending space.
Technology is not just a back-office efficiency tool—it is a strategic necessity. By embedding software and automation across the lending lifecycle, we can originate better loans, manage risk more effectively, and scale at a pace that traditional lenders cannot match, driving superior returns for our investors.
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The
Market
The U.S. luxury residential market is among the largest in the world, with single-family development representing a substantial share. These homes are often in prime markets such as Aspen, Miami, Los Angeles, New York’s Hamptons, and exclusive enclaves in Connecticut, Texas, and California. Development costs can range from $10 million to well over $100 million, driven by land scarcity, bespoke design requirements, and premium construction standards.
As of 2025, the luxury single-family development lending business remains strong and generally fueled by:
Persistent Wealth Concentration – Global wealth flowing into trophy real estate.
Limited Supply in Prime Markets – Scarcity of land in Aspen, Malibu, and the Hamptons underpins demand.
Private Credit Expansion – Investors are seeking alternatives to equities and bonds, making real estate credit an attractive allocation.
Traditional banks often limit their exposure to such projects due to regulatory capital constraints, illiquidity, and the bespoke nature of luxury construction. This has created a specialized niche for private lenders and funds who provide tailored capital solutions. Luxury single-family development lending is highly bespoke and typically structured through:
Acquisition & Pre-Development Loans – Financing land acquisition, entitlements, and early soft costs.
Construction Loans – Covering vertical build costs, often structured as interest-only with staged draw schedules tied to inspections.
Bridge & Warehouse Facilities – Short-term funding to refinance construction loans or warehouse multiple loans before securitization or recapitalization.
Mezzanine or Preferred Equity – Supplements senior debt when developers want to preserve cash equity.
Leverage levels are generally conservative compared to mainstream residential development lending:
Senior loans often advance 50–65% of cost (LTC) or 55–70% of value (LTV).
Interest rates reflect the risk profile—often 8–12% for private senior debt and 12–20% for mezzanine/preferred equity.
Key Players
Private Credit Funds & Specialty Finance Firms.
Family Offices & High-Net-Worth Investors – Often attracted by high yields and tangible collateral.
Banks Who Lend to Lenders – Warehouse facilities from larger banks back private lenders, allowing them to scale.
Developers with In-House Capital Arms – Some experienced developers raise capital directly, co-lending alongside institutional investors.
Lending in Today’s Climate
Lending standards are tightening due to rising construction costs, interest rate volatility, and political scrutiny on wealth and real estate. The most resilient players will be those who can manage risk while providing bespoke, flexible capital. Lenders face unique risks compared to standard residential finance:
Market Volatility – Luxury homes are highly discretionary purchases; downturns can freeze liquidity.
Construction Risk – Bespoke designs and finishes lead to cost overruns, delays, and change orders.
Exit Strategy Risk – The buyer pool is limited, requiring confidence in pricing power during construction or at completion.
The
Team/
Joshua
Gurwitz
Founding
Partner/
Co-CEO
In the early 90s, Joshua began his career in art, studying graphic design at The School of Visual Arts and Parsons School of Design. It was a time of exploration and submergence – into the New York City art scene – during which he worked at several prominent New York City galleries. Joshua discovered both his palette and perspective. He also confirmed art as a great passion, and discovered interior design as his true calling.
While studying at New York School of Interior Design, Joshua had the privilege of working with acclaimed designer Clodagh, where he learned one of his long-standing design ethos – the importance of evoking emotion through space. Joshua took this tenet into corporate work, supporting global architecture firm, Gensler, in their corporate, hospitality and planning groups. His final stint before going out on his own was as Managing Director of FirstService Colliers Consulting Group.
Que the creation of Good Property, a real estate development firm that has been specializing in the design and development of high-end luxury residences since 2009. His projects – in Aspen, Miami, New York, and The Hamptons – have been awarded numerous design recognitions for their forward-thinking innovation and classic aesthetic. His work can be seen on his company website, www.joshuagurwitz.com.
The
Team/
Erica
England
Founding
Partner/
Co-CEO
With over two decades of experience as a CPA and 15+ years working in the investment industry, Erica is honored to capitalize on those learnings to seek to create a world-class investment fund with Kite Equity. Erica’s experience includes asset management, compliance, financial reporting, taxation, and valuations.
As a former Family Office CFO, Erica oversaw the investment portfolio, including asset allocation, due diligence of investment managers, and tax planning. Erica also consults with private investment funds on accounting and financial matters. Erica was a founding partner of a crypto hedge fund where investors realized a 26% annualized return.
Previously, Erica was the Chief Accounting Account Officer for Redwood Real Estate Administration, a fund administration firm, where she was responsible for setting accounting policies, developing the business, and mentoring a team of accounting professionals. Prior to Redwood, Erica served as the Chief Compliance Officer and Controller of JCR Capital, a private equity real estate firm. Before that, Erica was at The Carlyle Group, where she held the roles of Corporate Accounting Manager and Senior Accountant.
The
Team/
Max
Plaxico
Founding
Partner/
Technology And Operations
With experience spanning logistics operations, AI-enabled automation, and marketing, Max brings a systems-driven perspective to building and scaling business infrastructure. He has worked across fast-moving, execution-heavy environments, translating operational needs into practical technology and process solutions.
At Alpha Zero Global Logistics, a national freight brokerage and fourth-party logistics (4PL) provider, Maximus advanced from technology consulting into transportation and then operations specialist roles. There, he helped design and implement workflow automations, new revenue streams such as freight audit and payment, and visibility tools that improved shipment tracking, and internal reporting. Additionally, he has consulted for Roadsafe LLC as an AI specialist, developing lightweight automation and decision-support tools that streamline day-to-day operations.
Earlier, Maximus led digital marketing and sales operations at MYX, where he managed marketing strategy, acquisition, and sales funnel optimization, and previously founded an e-commerce brand, gaining hands-on experience in product development, fulfillment, and growth.
The
Team/
Alaina Gurwitz
Managing Director
With over a decade of experience in real estate finance and development, Alaina is the Managing Partner of Good Property Company, where she leads investment and lending strategy across residential and commercial projects. She brings a combination of financial expertise, operational discipline, and strategic vision to structuring and managing capital.
Alaina has overseen a portfolio of projects representing over $200 million in costs, directing the full cycle of real estate investment — from financial modeling and securing equity and debt, to construction oversight, draw management, and successful project exits. She is recognized for implementing streamlined financial systems that reduce overhead, increase efficiency, and provide investors with clarity and confidence.
Earlier in her career, Alaina worked in international development on large-scale health, education, and gender equality initiatives across Africa and the Middle East. This global perspective continues to inform her disciplined yet human-centered approach to finance and partnership.
Advisors
Sadis
The firm maintains a diverse, business-oriented practice focused on investment funds, litigation, corporate, real estate, regulatory and compliance, tax and ERISA.
Sadis's clients include domestic and international entities, financial institutions, hedge funds, private equity funds, venture capital funds, buyout funds, commodity pools, and numerous businesses operating in various industries around the world.
Bakertilly + Berkowitz, Pollack and Brant
Established in 1980, Berkowitz Pollack Brant (BPB) is a certified public accounting firm with offices nationwide and with accountants, tax specialists and consultants, which makes them one of the largest accounting firms firms in the United States.
Their strength is establishing inter-disciplinary teams comprised of CPAs, finance and valuation professionals, senior tax professionals, technical audit specialists, information technology resources, and financial and estate planning experts.
Barrister Land
Founded originally in 1990 as Barrister Land Services, Inc. and then later converted to Barrister Land, LLC, we have since closed more than 25,000 titles throughout the country. They close titles and perform settlements in all 50 states while being widely regarded throughout the industry as a company that possesses the highest degree of expertise in handling complicated title matters.
Barrister Land, LLC and its Counsel maintain substantial additional insurance coverage through its own E&O/ Professional Liability/ Fidelity policies.
Insurance and Risk Management
Katrina Wylene is on of the country’s top construction insurance consultants. Her work includes analyzing a project’s risk and recommends policy changes that include additional risk transfer measures that adequately cover the property or party. In addition she ensures contracts and all insurance language on your documentation are air-tight, reviews Indemnification & Insurance section of project contracts to confirm it aligns with the current insurance program and assists legal teams with specific insurance language & requirements that are applicable to the current insurance market and risk.
Cooper-Horowitz
Cooper-Horowitz was founded in 1964 by Howard Cooper and Barry Horowitz with the vision to leverage their best-in-class relationships with Lenders to provide Borrowers with certainty of execution.
These principles remain at the core of Cooper-Horowitz sixty years later. Today, Cooper-Horowitz continues to close more than 150 transactions annually with a total volume in excess of $10 Billion per year. In addition to our New York City headquarters, CH operates offices in Philadelphia, PA and Boca Raton, FL.
Core Investment Properties
CORE is a private investor of retail properties located in primary and secondary MSA markets of Florida and the Southeast. CORE and its principals own and actively manage approximately 2,500,000 SF of properties throughout Florida and target experience-oriented properties with stable existing cash flow and upside potential through active management. Outside of retail investments CORE has investments in technology, management (CPG) and other ancillary Real Estate ventures.
Mayfair Construction
Established in 1990 by Timothy P. Ryan and former principal John Leone, the founders maintain a clear vision of Mayfair as a gold standard in custom luxury building. Their catalog of repeat clients and referrals, as well as our esteemed name in the industry, are a testament to this success.
Welcome to Kite.
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