Ownership
How Petir is owned.
Petir Capital LLC is owned equally by Richard Pedi and Mitir Patel. A number of the buildings are held in entities the principals own together with other people. This page explains that structure, because it is a fair question about any private company.
Ownership sits at the building. Petir has never raised a pooled vehicle. Where a building has been held with additional owners, that entity was formed around one specific address, and it holds that building only.
The principals own the same thing on the same terms. Richard and Mitir put their own capital into the buildings Petir buys, and co-owners have held the same class of interest the principals hold. There is no promote structure that pays the principals ahead of anyone else.
Petir does the work. Sourcing, permits, construction management, leasing and ongoing management are Petir's — not a third party's, and not a co-owner's. Co-owners have been owners, not operators.
The buildings are held, not traded. Renovated buildings are leased, managed and refinanced. The holding period is measured in decades, and the buildings Petir bought first are still the buildings Petir owns.
Plainly
What this is not
Worth stating outright, because a lot of real estate company websites mean something quite different by the word "partner".
Petir Capital is not a fund, not an investment adviser, and does not manage money for the public. There is no vehicle to subscribe to, no minimum, no investor portal, no offering and no capital raise.
This page is not an offer. Nothing on this website is an offer to sell, or a solicitation of an offer to buy, any security or any interest in any entity, and nothing here should be read as an invitation to invest.
Petir publishes no return figures and no performance record, here or anywhere else on this site. The portfolio and project pages show what was bought and what was built. That is the record, and it is a record of construction, not of investment returns.
If you want to buy or sell a building, that is brokerage, and it belongs with Mitir's practice at Essex Three-Twelve — a business separate from Petir Capital.