Aligned Real Estate Capital

Aligned Real Estate Capital is focused on the acquisition, development and management of a diverse portfolio of chain restaurant and retail / essential service net lease properties capable of supporting strong, consistent cash flow generation and long-term appreciation. We employ a uniquely differentiated approach and strategy designed to structure valuable solutions for tenants while delivering exceptional returns to investors through value-added, short-duration investments.

Aligned Real Estate Capital ("AREC") is a real estate investment platform purpose-built for the franchise and independent operator economy. We bridge the gap between institutional capital and the operational realities of franchise businesses by aligning real estate capital directly with franchise operators.

Our Mission

  • Aligned Real Estate Capital was formed to provide flexible, aligned real estate capital to lower-middle-market franchise and independent operators

  • The business targets operators who lack consistent access to institutional capital or where institutional buyers would otherwise create excess pricing spread to one-off transactions either because of the perceived credit quality of the operating business (sub-investment grade) or because of the size of the transaction (sub-$15 million)

  • AREC focuses on partnership-oriented capital solutions that support growth, liquidity, and portfolio optimization

A Differentiated Model

  • The platform is built to execute repeatable transactions that align real estate capital with the long-term operating performance of the franchisee or operator

  • Operators are incentivized to participate in the real transactions, better aligning interests

  • Lease terms are consistent, repeatable, and provide better protections to the operator, and are accepted broadly by the owner-investor market

  • The platform combines hands-on operational expertise with rigorous credit and real estate analysis to support scalable growth and long-term operational resilience

  • The investment structure is designed to deliver institutional-quality underwriting, disciplined risk management, and transparent reporting while remaining flexible to the needs of growing franchise operators

  • AREC prioritizes repeatability and scalability across multi-unit portfolios, creating efficiency for both operators and capital partners

INSTITUTIONAL DISCIPLINE. OPERATOR ALIGNMENT. SCALABLE GROWTH.

Aligned Real Estate Capital builds on the experience and track record of Tasty Real Estate Group, which previously executed over $160 million of transactions.

The Aligned Advantage

A distinct approach to NNN real estate investing incorporates proprietary access, operator-driven insight, and institutional-quality net lease assets designed for long-term durability.

Exclusive Access to Bespoke Deal Flow

Unique ability to identify off-market opportunities across top-tier QSR brands, bypassing broker competition and inflated cap rate compression

Alignment with a Proven QSR Operator & Developer

Leverage the operational insight and real estate acumen of an affiliated platform that owns and operates 400+ QSR locations across Pizza Hut, KFC, Burger King, and Dunkin'

Aligned Incentives for Long-Term Success

Operator affiliation ensures deep understanding of tenant health, ongoing site performance, and real estate value preservation - enhancing asset durability for hold periods

Institutional-Grade Quality Tenants & Real Estate

Acquire fee-simple NNN assets leased to blue-chip franchise operators and backed by strong credit, attractive lease terms, and mission-critical retail locations

Ongoing Pipeline From Active Development Program

Benefit from early access to new development projects, particularly across Dunkin', offering long lease terms, newly built assets, and premium site selection

Transaction Strategy & Investment Criteria

A disciplined approach to underwriting, structuring, and executing net lease & development opportunities across service sectors.

Transaction Types

  • Sale Leaseback
  • Amend & Extend
  • Build-to-Suit Development (Reverse Build-to-Suit)

Asset Type

Durable Retail-Service Businesses (Freestanding or Pad Sites)

Industry Verticals

  • QSR
  • Fast-Casual Restaurants
  • Early Education & Childcare
  • Primary Care Medical & Dental
  • Auto Service
  • Convenience & Gas
  • Pet Care & Veterinary Clinics

Tenant Credit

Independent operator and lower middle market franchise credit - ideal operator has 20 - 40 locations and is looking for a partner to expedite growth

Geographical Focus

Nationwide

Aligned Solutions

Sale Leaseback: Unlocking Embedded Value

Monetizing real estate to accelerate operator growth.

AREC converts owned real estate into strategic growth capital while preserving operational continuity. Our flexible lease structures and middle-market focus create alignment between durable real estate fundamentals and operator expansion.

Details

  • A sale-leaseback pairs an operator with a real estate capital partner to acquire a business and put long-term leases in place for the operating assets

  • AREC provides growth-oriented capital that unlocks embedded value, improves acquisition economics, and redeploys capital into core operations

Target Profile

  • • Franchise and independent operators in the lower middle market
  • • Property-level underwriting driven by asset quality and market rents
  • • EBITDAR-based coverage calibrated for durability
  • • Long-term leases structured for institutional stability
  • • Flexibility embedded to support operator growth
  • • Market-aligned terms informed by private owner standards
  • • Rents set to ensure sustainable coverage and long-term viability

Investment Parameters

Transaction Size
$5-$20M
Typical Hold
12-18 months

Amend & Extend: Optimizing Lease Economics

Restructuring for stability, alignment, and long-term value.

AREC partners with operators to reset lease terms in exchange for extended duration and improved credit visibility. This strategy enhances cash flow durability while strengthening long-term real estate value and tenant alignment.

Details

  • An amend & extend is a negotiated lease restructuring in which landlord and tenant reset rent and extend the term in exchange for updated economics

  • These transactions are typically executed through ROFR / ROFO provisions, or AREC will proactively source them on behalf of tenants.

Target Profile

  • • Assets with materially below-market rent and/or strong in-place FCCR
  • • Meaningful embedded rent growth opportunity
  • • Legacy lease structures limiting assignment or change-of-control flexibility
  • • Constraints around indemnification and go-dark provisions
  • • Upcoming franchisor-mandated remodel or reimage requirements
  • • Rents reset toward market while preserving post-transaction coverage
  • • Target post-transaction EBITDAR coverage: 2.75x - 4.00x

Investment Parameters

Transaction Size
$1-$3M
Typical Hold
6-9 months

Build-to-Suit Development: Purpose-Built for Performance

Developing essential operating real estate aligned with operator growth.

AREC delivers customized development solutions designed around operator specifications and long-term occupancy. Disciplined development execution with structured lease commitments, assets are built for sustained performance.

Details

  • AREC identifies and executes ground-up development and reimage opportunities aligned with tenant expansion strategies and franchisor requirements

  • Partners with operators to deliver purpose-built, single-tenant facilities that enhance operating performance and long-term real estate quality

Target Profile

  • • Tenant- or franchisor-directed site selection
  • • Relocations from secondary sites into stronger single-tenant buildings
  • • Sites with superior access, visibility, and land & building characteristics
  • • Purpose-built assets aligned with brand standards and prototype evolution
  • • Lease terms standardized and negotiated in advance with the tenant
  • • Build-to EBITDAR coverage levels exceeding prevailing market benchmarks
  • • Coverage targets calibrated by brand strength and concept economics

Investment Parameters

Transaction Size
$1-$3M
Typical Hold
15-21 months

Executive & Investment Team

Management Team

Tyler Sorenson

President

Tyler leads Aligned Real Estate Capital, overseeing acquisitions, operations, and dispositions. He brings extensive experience in commercial real estate, spanning acquisitions, asset management, investment sales, and leasing. He previously held senior roles at RPT Realty, where he invested $400M in a $1.9B net-lease portfolio, and at Spirit Realty Capital, directing ~$1.5B in acquisitions and managing ~900 assets. Tyler holds an MBA from Southern Methodist University, a BA from the University of Texas at Austin, and is a Certified Commercial Investment Member (CCIM).

Bobby Wunderlick

Associate

Bobby joined Aligned Real Estate Capital in 2025 and brings over five years of experience in commercial real estate. He serves as an Associate, focusing on real estate investments and asset management. Prior to joining AREC, Bobby was an Investment Associate at a real estate private equity firm. He previously worked at Northmarq Capital on the Investment Sales team, where he contributed to the disposition of more than $8B in assets. Bobby holds a BA from the University of Texas at Austin and serves on the Alumni Real Estate Council.

Sponsor — Triton Pacific Capital Partners

Triton Pacific Capital Partners, founded in 2001, is a private equity firm with a sector-anchored, multi-strategy investment platform serving institutional, family office and high net worth investors. Sector expertise includes QSR, consumer multi-unit, healthcare services, financial services, software, and real estate.

Contact

Get in touch to learn more about our investment opportunities.