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§ Private Profile · New York City, NY, USA
Tricera Partners is a company.
Key people at Tricera Partners.
Tricera Capital is a real estate investment firm, specializing in value-add urban retail and mixed-use properties across Florida. The firm strategically acquires underperforming assets and implements improvements to enhance their market value. This focused approach allows Tricera Capital to optimize returns for its partners by capitalizing on specific opportunities in the market.
Ben Mandell and Scott Sherman co-founded Tricera Capital, driven by an insight into Florida’s urban commercial landscape potential. While founding specifics are not detailed, their combined experience shaped the firm's specialized investment strategy, guiding property acquisition and repositioning efforts.
Tricera Capital serves investors and financial partners. The firm’s vision is to generate substantial returns and enduring wealth for these stakeholders through a disciplined investment methodology. By consistently executing its focused strategy, Tricera Capital aims to sustain its role in Florida's urban real estate market.
Key people at Tricera Partners.
Tricera Capital is a Miami-based real estate investment firm founded in 2017, specializing in value-add urban retail and mixed-use investments primarily in Florida, with deal sizes ranging from $2M to $250M[1][2][3][4]. The firm's mission centers on generating superior returns for high-net-worth investors through disciplined underwriting, off-market transactions, and a vertically integrated platform covering acquisitions, asset management, property management, and dispositions, targeting 15%-20% IRR on 3-5 year holds[2][3]. Since inception, Tricera has acquired over 30 assets totaling 2.7 million square feet, achieving a 2.2x equity multiple and 25% IRR, while scaling assets under management (AUM) from under $10M to nearly $100M in under two years by adopting efficient investor management tools[1][3].
Tricera Capital was established in 2017 in Miami, Florida, as an entrepreneurial real estate firm amid a focus on emerging Florida markets[1][3][4]. Key leaders include Ben Mandell, Chief Executive Officer & Managing Partner, Scott Sherman, Co-founder and Managing Principal, and Mario Saldaña, Vice President of Investments, supported by in-house teams across the investment lifecycle[1][3]. The firm evolved from aggressive deal sourcing—averaging nearly one investment per month initially—relying on Excel for operations before implementing advanced software like Juniper Square to professionalize investor relations, fundraising, and scaling, which enabled rapid AUM growth and deal execution[1].
Tricera Capital rides the wave of Florida's urban revitalization and retail resurgence, particularly in Miami and emerging neighborhoods like St. Petersburg, capitalizing on post-pandemic shifts toward mixed-use developments blending retail, residential, and experiential spaces[3]. Timing aligns with market recoveries, as seen in discounted acquisitions like Lincoln Road amid economic pressures, positioning the firm to outperform through counter-cyclical buying and community integration[2][3]. Broader market forces—rising demand for value-add retail in high-growth Sunbelt regions, inflation-hedging via real assets, and investor appetite for 15-20% IRRs—favor Tricera's model, while its vertical integration influences the ecosystem by accelerating tenant placements and asset optimizations, as in recent Camden Central developments[3].
Tricera is poised for continued expansion in Florida's mixed-use sector, potentially surpassing $250M+ deals as AUM scales further with its proven off-market edge and operational tech stack[1][2][3]. Trends like retail's experiential pivot, Sunbelt migration, and interest-rate stabilization will shape its trajectory, enabling more opportunistic buys in maturing markets. The firm's influence may grow through larger portfolio exits and institutional partnerships, solidifying its role as a disciplined value-add leader—echoing its origins in aggressive, tech-enabled growth to maximize investor returns.
