# Green Pine Capital

> Miami-based real estate capital markets advisory firm specializing in debt advisory, structured finance, and strategic consulting across the United States and Latin America.

## About

Green Pine Capital is a boutique real estate capital markets advisory firm headquartered in Miami, Florida. The firm is senior-led and relationship-driven, built around getting deals closed for sponsors and investors across the Americas. GPC was founded at the intersection of its principals' own family office and institutional relationships — bringing a discrete, hands-on approach to every engagement. Senior partners are involved from initial strategy through closing. The firm has deep lender and capital relationships spanning domestic banks, debt funds, family offices, and international capital sources across the United States, Brazil, and Latin America.

## Services

- **Debt Advisory & Structured Finance**: Sourcing and structuring debt capital for real estate sponsors — acquisition financing, construction loans, bridge and transitional debt, mezzanine, preferred equity, recapitalizations, and cross-border debt placement.
- **Strategic Consulting & Capital Markets Advisory**: Advising sponsors and investors on complex capital structures, joint ventures, and transaction strategy. Covers special situations and workouts, cross-border advisory, lender and investor introductions, and portfolio strategy.

## Team

- **Stephen Salzman** — Managing Partner. Over 20 years in global financial services spanning investment banking, asset management, and institutional distribution across international markets.
- **Brian Bernstein** — Managing Partner. Two-decade career in commercial real estate covering acquisitions, refinancing, disposition, asset management, property management, and family office operations.

## Insights

Market commentary and sector analysis from the Green Pine Capital team. Full library: https://greenpine.capital/insights

- [Multifamily isn't one market anymore. It's two.](https://greenpine.capital/multifamily-supply-divide): Sun Belt and Mountain multifamily are still working through a 50-year supply wave while the Midwest and gateway markets look healthy. Why the national numbers hide the deal you're actually underwriting.
- [Insurance is now an underwriting variable, not a closing-cost line item](https://greenpine.capital/insurance-costs-cre-underwriting): Multifamily and coastal CRE insurance premiums, deductibles, and coverage terms have moved enough to change deal economics. Why sponsors and LPs need a real quote in hand before a capital structure is finalized, not after.
- [Cross-border capital flows: the Brazil–U.S. investment corridor](https://greenpine.capital/brazil-us-corridor): Brazil fell to third among Florida's international real estate buyers in 2025 even as total foreign dollar volume rebounded. Why the corridor cooled but didn't close, and where cross-border deals actually get won or lost.
- [Recapitalizations: a playbook for sponsors facing maturity walls](https://greenpine.capital/recapitalizations-maturity-walls): An estimated $875 billion in CRE debt matures in 2026. When a straight refinance isn't the right tool, and how recapitalization can bridge the gap.
- [Cross-border debt placement: structuring for Brazilian and LatAm capital](https://greenpine.capital/cross-border-debt-placement-brazil-latam): Brazilian and LatAm capital sources underwrite US real estate debt and equity differently than domestic lenders. The structuring considerations that actually matter.
- [Mezzanine debt vs. preferred equity: how sponsors should choose](https://greenpine.capital/mezzanine-debt-vs-preferred-equity): Mezzanine debt and preferred equity look similar on paper but diverge sharply when a deal underperforms. How sponsors should actually choose between them.
- [Construction loan structuring in a higher-rate environment](https://greenpine.capital/construction-loan-structuring-higher-rates): Construction loans carry floating-rate exposure through the entire build period. Sizing interest reserves and rate hedges realistically in today's environment.
- [Bridge-to-permanent financing: when it makes sense](https://greenpine.capital/bridge-to-permanent-financing): Bridge financing bridges a gap in an asset's performance, not a gap in a sponsor's plan. Structuring bridge debt with a realistic path to the permanent takeout.
- [Portfolio strategy for family offices entering U.S. real estate](https://greenpine.capital/family-office-portfolio-strategy-us-real-estate): Family offices often enter US real estate through a single opportunistic deal. What it takes to build a durable portfolio strategy, not just source the next deal.
- [The anatomy of a loan workout: what sponsors should expect](https://greenpine.capital/anatomy-of-a-loan-workout): Loan workouts are negotiations, not formalities. What actually drives the outcome when a deal underperforms and a sponsor needs terms relief.
- [Joint venture structuring: aligning sponsor and capital partner incentives](https://greenpine.capital/joint-venture-structuring): Real estate JV disputes usually trace back to governance and decision rights, not the promote waterfall itself. Structuring JVs that hold up under real performance.
- [Energy transition infrastructure: opportunities in the Americas](https://greenpine.capital/energy-transition-infrastructure-americas): Global energy transition investment hit $2.3 trillion in 2025, but the 2026 opportunity is shifting from generation to enabling infrastructure. Where the capital is actually going.
- [Real asset allocation in a higher-rate environment](https://greenpine.capital/real-asset-allocation-higher-rate-environment): Higher-for-longer rates have changed real asset allocation, not ended it. Why capital is reallocating within real assets rather than away from them.

## Focus Areas

- Real estate debt advisory and structured finance
- Bridge, mezzanine, and preferred equity placement
- Acquisition and construction financing
- Recapitalizations and refinancings
- Cross-border transactions (United States and Latin America, with emphasis on Brazil)
- Special situations and workouts
- Joint-venture structuring and capital markets strategy

## Contact

- **Address**: 1390 Brickell Avenue, Suite 305, Miami, FL 33131
- **Phone**: (305) 563-4072
- **Email**: info@greenpine.capital
- **Website**: https://greenpine.capital