About R&P
A principal investor in
real estate income.
R&P Enterprises is the UK affiliate of 18 Main, a real estate investment firm that has invested as a principal across residential, hospitality, and mixed-use for over a decade. We acquire, operate, and own income-producing real estate, committing our own capital alongside our partners on the same terms. In Britain our mandate is deliberate and singular: to bring institutional ownership to a fragmented residential market, assembling fully licensed, cash-generative homes into a professionally managed portfolio built to institutional standard and toward a public-market listing.
The Firm
Built to
allocate capital.
The platform has invested across multifamily, hospitality, mixed-use and special situations, and exists to allocate capital and provide co-investment opportunities to our partners in income-producing real estate in the US and the UK.
We invest alongside our partners on the same terms. We hold meaningful capital of our own in every transaction, so we carry the same risk and are paid on the same outcome.
Our driving principles are: capital preservation, cash flow, operational advantage, alignment, and exit optionality. In short: income that exists today, not returns that might arrive tomorrow.
Current Focus
Two asset classes.
One allocation framework.
01
Residential Real Estate
Income-producing residential portfolios across the United Kingdom and United States. Acquired below replacement cost, held for operational improvement and durable cash flow.
02
Hospitality
Boutique and non-commoditised hotel investments in high-barrier urban markets. Treated as operational real estate in which we have deep expertise. We reposition, manage, and seek to exit on superior fundamentals.
Investment Framework
How we think
about capital.
The asset class varies. The framework does not. Every opportunity (internal or external) passes the same five-part discipline before capital is committed.
01
Capital Preservation
Every opportunity is first evaluated for permanent downside risk. Before we underwrite a return, we underwrite the loss case. Capital preserved compounds; capital impaired does not.
We will pass on a higher headline yield in favour of a position with a more defensible floor.
02
Asset Selection
We seek assets supported by durable demand and recurring cash flow. The category may vary across residential and hospitality, but the underwriting test does not: persistent income, structural demand, replacement-cost discipline.
Cash flow is the input. Compounding is the output. We do not rely on multiple expansion or market timing.
03
Operational Advantage
We invest where active ownership can create measurable value: pricing, leasing, capital structure, cost discipline, or repositioning. Where operational input cannot move the outcome, we let other allocators take the trade.
Operating expertise is the moat. Capital alone is a commodity.
04
Alignment
We co-invest our own capital in every transaction, so our money sits beside our partners' from day one. Our upside is a performance share earned only after investors receive their preferred return, not a fee on the capital we raise.
Alignment is a structural decision, not a marketing statement.
05
Exit Optionality
Every investment is underwritten to multiple liquidity outcomes: refinance, partial sale, strategic exit, or hold-and-distribute. We size capital structures so that no single exit pathway is required for the thesis to work.
Optionality is what allows patient capital to act when others are forced to.
Offices
United Kingdom
London
New York
431 Broome St, New York, NY 10013
Memphis
107 S Main St, Memphis, TN 38103
Partners & Affiliates
We invest, build, and operate alongside leading brands, capital partners, and institutions.
