If your target owns its real estate, you don't have to buy the property to buy the business
Hi all, I'm Juan Tawil, and together with my co-founder Yoel we run Orev Capital. A quick intro from both of us, and an open offer to the community. Something we see constantly: a searcher finds a great business, but it owns the real estate it operates from. That property gets stuffed into the EV, the senior loan ends up bigger than operations actually need, and the equity check (and the fundraise behind it) balloons. Then a single soft quarter can trip a covenant on debt the business never really required. We're direct principal buyers of that real estate. We acquire the property alongside you — side-by-side at close — or after close, and lease it back long-term on an absolute NNN basis. That carves the property out of your purchase price, lowers your effective entry multiple and equity check, and swaps rigid bank amortization for a predictable lease. We're the buyer, not an advisor: no fees, no commissions, no intermediaries. When it pencils, you're effectively buying the business at an operating multiple while we buy the real estate at a real-estate multiple (think ~5x vs. an 8% cap) — and you keep the spread as upfront proceeds to lower your opco entry multiple. It works across asset classes — wherever the business owns mission-critical real estate (industrial, medical, retail, office, and more) — typically $2M–$7M+ and national in scope. How we got here: we met during our MBAs at Columbia and kept circling the same gap — the search fund world is growing fast, but the real estate sitting inside these deals still gets treated as an afterthought. We'd both spent years on the institutional side, figured we could fix that, and launched Orev to do it. We've spent nearly two decades combined buying, structuring, and financing real estate across the U.S., U.K., Mexico, and Argentina (full bios: redacted. If you're in or approaching LOI on a business that owns its real estate — or you've already closed and want to pull trapped equity off the balance sheet — we'd genuinely like to talk. And you don't need a live deal to reach out: if you just want to chat, ask questions, or sanity-check whether a carve-out makes sense on something you're looking at, we're always happy to do that too. Reply here or reach us at redacted Looking forward to connecting with the community! redacted