Ten Capital Management

Ten Capital Management

BENJAMIN ADAMS, Founding Partner

Benjamin Adams is the Founding Partner of Ten Capital Management. He launched the company in 2011 and is responsible for the strategic direction and oversight of all firm activities. Ben spent 20 years in business, government, and law. Ben was a Portfolio Manager with The Townsend Group, where he oversaw $1.7 billion in private equity real estate assets under management within the firm's discretionary investment management (fund of funds) business. Prior to Townsend, Ben was a Vice President and General Counsel of Lionstone Development LLC, a Miami-based, principal balance sheet investor. He practiced law with Greenberg Traurig LLP in New York, New York, and served as the Special Assistant to the White House Counsel in the Clinton Administration. Ben has a law degree from Georgetown University Law Center, and a BA from Miami University in Oxford, Ohio. He is the founder and Chairman Emeritus of the Defined Contribution Real Estate Council (DCREC).


Josh Brown is a Partner of Ten Capital Management with responsibility for the company's strategic investment planning, business development and financial oversight. Josh has more than 7 years of real estate experience, primarily in investment and development. He was a Summer Associate at Terranum, a Colombia-based, fully integrated real estate company focused on investments in, and developments of, hotels, commercial spaces and mixed-used projects in Central and South America. Prior to Terranum, Josh was a Project Development Associate at Lionstone Development LLC, where he conducted financial analysis of proposed investments and developments, as well as coordinated the development of mixed-use hospitality projects. He earned his BA in history from Cornell University and his MBA from the Johnson School at Cornell University. Josh has been involved in Big Brothers Big Sisters.



Jordan Caspari is a Partner with responsibility for sourcing, structuring, underwriting and closing direct real estate transactions, as well as developing relationships with capital partners. Jordan brings 10 years of institutional real estate experience having worked on the acquisition and disposition of over USD 2 billion of joint venture equity and recapitalizations across all asset classes. Previously, Jordan worked as a Vice President of Partners Group with responsibility for a USD 450 million real estate opportunity fund where he led various asset-level recapitalizations throughout the United States and the privatization of a publically listed real estate platform. Prior to Partners Group, Jordan worked with Liquid Realty Partners and Oxford Properties Group with a focus on both recapitalizations and joint venture equity. He received his Bachelors in Philosophy from Queen's University in Canada and his Master's in Real Estate Finance and Development from Columbia University. Jordan sits on the board of Schools without Borders and provides corporate guidance and fundraising support to the charity.


CARMELA GUERRERO, Chief Operating Officer

Carmela Guerrero is the Chief Operating Officer of Ten Capital Management with responsibility for the company's legal, compliance and human resource functions. Carmela has 17 years of experience in business and law. Prior to joining Ten Capital, Carmela was a Consultant and institutional investment advisor with The Townsend Group, where she advised and administered public pension fund and sovereign wealth fund clients in excess of $3+ billion in private and public equity real estate allocations, timber and infrastructure. Prior to joining Townsend, Carmela practiced law with Duane Morris LLP in Miami, Florida where she worked on real estate transaction matters and with Davis, Polk and Wardwell in New York, New York, where she specialized in corporate litigation. Carmela obtained her law degree from the Yale Law School, and graduated with a BA with highest honors in Political Science and French from the University of Michigan. She is a graduate of New York City's Stuyvesant High School and is admitted to the bar in New York and Florida.



David Smith is a Partner with responsibility for sourcing, structuring, underwriting and closing direct real estate transactions, as well as asset management for real estate investments made by the company. In this role, David works closely with operating partners to ensure proper execution of the investment strategies. He brings over 10 years of real estate and management experience in capital markets and asset management. Previously, David worked as a Vice President at Helios AMC in San Francisco, where he managed CMBS, Real Estate Owned (REO) and Non-Performing Loan (NPL) portfolios including all asset classes with aggregate loan value of over USD 400 million. He exclusively managed a non-performing loan pool for Deutsche Bank with over 40 underlying assets and worked closely with sponsors and bondholders to work out the loan positions. Prior to Helios, David worked as a Vice President in the Capital Markets group with Cohen Financial where he directed the origination, analysis and placement of over USD 450 million of debt, equity and mezzanine financing structures for commercial real estate throughout the United States. David holds a Bachelor of Science in Managerial Economics from the University of California at Davis. He previously chaired the Developing Leaders Group for the SF Bay Area Chapter of National Association of Industrial and Office Properties (NAIOP) and has been involved with San Francisco Bay Area Mortgage Association (BAMA), Institute of Real Estate Management (IREM), and International Council of Shopping Centers (ICSC).