Miami’s Leste Eyes $3 Billion a Year in Real Estate Lending

Leste Group, a Miami-based alternative asset manager founded by a Brazilian financier, is planning to triple its real estate lending business to $3 billion annually in originations over the next two to three years.

Ricardo Gennari, who leads the business, said the team is doing deals across the US and specializes in so-called triple-net lease agreements that provide investors with a steady stream of revenue and returns in the “low-teens.” Leste’s real estate lending team is mostly based in New York.