Stabilized neighborhood retail in high-growth Sunbelt markets. Current income from the in-line center; value creation from under-monetized outparcels.
Fund I acquires stabilized neighborhood retail centers in high-growth Sunbelt markets, generating current income from in-line tenancy while activating under-monetized outparcels through ground leases and build-to-suit with national QSR and credit tenants.
Targeted returns contained herein reflect, in part, the measure of risk that the Fund will be taking with respect to its investments. Prospective investors should bear in mind that these are target returns rather than actual returns. The Fund may experience substantial loss and there can be no assurance that target returns will be achieved.
Stabilized neighborhood retail centers with under-monetized pad sites in target Sunbelt markets.
Outparcels via ground lease or build-to-suit, executed by the in-house Florida-licensed General Contractor.
Long-term net leases to national QSR and credit retail tenants for investment-grade cash flow.
Refinance or sell at stabilized value reflecting higher NOI from new pad cash flow.
Forward-looking · Technology-enabledAlongside the pad-site playbook, Geneva is actively developing technology and infrastructure partnerships to future-proof its assets.
The best located pad sites and outparcels on high traffic corridors in the Southeast are experiencing the most intense tenant competition in at least two decades, driven by near zero new retail development, generationally low vacancy, and franchise expansion targeting Florida and the Southeast above all other U.S. markets.
QSR, coffee, convenience, medical, automotive service, and other credit retailers are aggressively pursuing pad-ready locations in Southeast growth markets, with strong demand for highly visible outparcels offering drive-thru capability and direct access to growing retail corridors.
Many legacy owners lack the capital, entitlement expertise, development capability, or risk tolerance to execute pad development. Others prioritize cash-flow preservation over value creation, leaving excess land underutilized despite strong retailer demand.
Rising land, construction, and financing costs make ground-up retail development increasingly difficult, enhancing the value of existing centers that already possess the traffic counts, utilities, access points, parking, and municipal approvals needed to create new outparcels.
Increase NOI through ground leases or pad sales, improve overall center visibility and traffic, reduce basis through parcel monetization, and create valuation arbitrage by transforming overlooked excess land into institutional-quality small-format pad sites.
Sources: CRE Daily, Feb 2026, citing CoStar data; CoStar; IFA 2026 Franchising Economic Outlook.
Figures per Geneva Performance Overview, September 2026.
In-house Florida Certified General Contractor (CGC #CGC1518521) and property management, so outparcel development is executed on Geneva’s schedule and budget rather than waiting on third-party GCs.
Operator, broker, and seller relationships built across 17+ years in core Southeast markets. Many acquisitions are sourced off-market or pre-marketing.
24 consecutive realized exits delivering positive net LP IRR: 33.5% on the realized industrial cut and 25.1% on the realized retail cut (pooled XIRR).
Fees are summarized for illustration; the Partnership Agreement and Private Placement Memorandum govern.
Whole-fund basis: the preferred return and carried interest are calculated on cumulative distributions across all Portfolio Investments. First, 100% to LPs until unreturned capital contributions are repaid; second, 100% to LPs until the 8% preferred return (simple, per annum) is paid; third, the base LP / GP split for the investor’s class until the LP reaches a 15% net IRR; thereafter, the upside split.
LP protections: after the Fund’s final distribution, a clawback requires the GP to return carried interest to the extent LPs have not received their capital contributions plus the 8% preferred return, capped at carried interest received net of taxes. There is no GP catch-up.
Construction and property-management services are provided by Geneva-affiliated entities; related fees are paid to affiliates as related-party transactions. Represents fees paid to our sponsor or its affiliates. The agreements and compensation arrangements between us and our sponsor and its affiliates were not determined by arm’s-length negotiations.
Larger commitments supply certainty to the early close and earn a larger share of profits; the upside tier above a 15% net LP IRR ties sponsor compensation to outperformance.
Class terms are summarized for illustration; the Partnership Agreement and Private Placement Memorandum govern.
Moderate asset-level leverage targeting approximately 65% loan-to-value at the portfolio level, arranged on a non-recourse basis wherever available, using fixed-rate, variable-rate, or interest-only debt as appropriate to each asset’s credit and lease profile, with maturities staggered across the portfolio. Debt is underwritten to service from in-place net-lease income, not projected rent growth. Leverage and financing terms are policy targets, not commitments; individual assets may carry higher or lower leverage than the target.
Fund I is structured as a Delaware limited partnership, a pass-through vehicle that pays no entity-level federal income tax. Investors receive an annual Schedule K-1. Real estate depreciation — potentially accelerated through cost-segregation studies where available — can offset a portion of taxable income, so part of the cash distributed may be received on a tax-deferred basis as return of capital. Assets held longer than one year are generally eligible for long-term capital-gains treatment at exit; the portion of gain attributable to prior depreciation is subject to recapture at applicable rates. Not tax advice; treatment depends on each investor and current law. Consult your own advisors.
Materially larger commitments may be eligible for additional anchor terms, documented by side letter. Terms are discussed directly with the sponsor.
LP investors commit a minimum of $200K. Capital is called as needed over the investment period, on at least 7 days’ notice.
Geneva sources off-market opportunities, conducts institutional-grade underwriting, and selects 4–6 target acquisitions.
The Fund acquires assets. Net lease structure minimizes operational complexity; Geneva’s vertically integrated team actively manages the portfolio and tenant relationships.
Expected quarterly distributions from operating income, with timing and amount in the General Partner’s discretion. At exit, assets are expected to be sold individually or as a package to institutional buyers.
Verivest, LLC. Independent third-party fund administration and investor reporting.
Nelson Mullins Riley & Scarborough LLP. Fund formation, securities compliance, and ongoing legal support.
Heinz Jolles & Berry, LLP. Initial accountant to the Fund; reviews the Fund’s annual financial statements, which are not expected to be audited.
Juniper Square. Secure document delivery, subscription, and investor reporting platform.
Centennial Bank. Fund depository and banking relationship.
Fund I has a $200,000 minimum investment. Accredited investor status is verified before acceptance, as required by Rule 506(c). Consistent with SEC guidance, the Fund’s $200,000 minimum investment, together with written investor representations — including that the investment is not financed by a third party — constitutes reasonable verification; the Fund may also use the verification methods in Rule 506(c)(2)(ii) and may request supporting documentation.
Request accessAny offering is made only through the Fund’s offering documents to verified accredited investors.
Past performance is not indicative of future results. This is neither an offer to sell nor a solicitation of any offer to buy any securities. Unless otherwise indicated herein, all information is current as of the date specified. Investing in the Fund contains risks, including the risk of loss of your entire investment. The Fund may not be suitable for all investors, and an investor should contact pertinent tax, legal, and financial advisors prior to investing in the Fund. Geneva Income Opportunity Fund I, L.P. does not own the properties presented on this website.
