Real Estate

Overview

Aquarian Real Estate Partners (“AREP”) invests in commercial real estate and real estate-related investments across various asset types, geographies, and tiers of the capital structure. Formed in 2025, AREP provides equity and debt financing to borrowers for the construction, acquisition, and refinancing of commercial real estate, seeking to deliver attractive risk-adjusted returns to Aquarian’s insurance portfolio company and third party clients. Sponsor relationships are highly valued and at the core of everything AREP does, with the team providing its sponsors with funding reliability, capital structure flexibility, and timely execution.

two people sitting together at a table looking at a laptop screen

Asset Classes

multi-family
hotels & hospitality

Investment Vehicles

Private Credit (9)
Private Credit (10)

Real Estate Partners Team

Kevin Holmes
Partner and Head of Aquarian Real Estate

Kevin
Holmes
Vice President, Aquarian Real Estate Partners

Meghan
Muller
Kevin Holmes

Partner and Head of Aquarian Real Estate

Kevin
Holmes

Kevin Holmes serves as Partner and Head of AREP. Prior to joining Aquarian, Mr. Holmes was a Founding Partner at Iviron Capital Partners where he was responsible for originating, executing, and monitoring equity investments in development, value-add, and operating real estate projects. 

Prior to founding Iviron, he served as Vice President at Athos Capital Partners and 54 Madison Capital, both precedent funds managed by Iviron. Earlier in his career, Mr. Holmes worked at Deutsche Bank in the Consumer Investment Banking Group, where he advised clients on capital markets and M&A transactions, participating in the execution of over $10 billion in domestic and cross-border transactions. 

Mr. Homes graduated with an MBA from Duke University Fuqua School of Business and a B.A. in from Bucknell University.

Vice President, Aquarian Real Estate Partners

Meghan
Muller

Meghan Muller is a Vice President on the AREP team, where she focuses on sourcing, executing, and managing real estate investment opportunities.  Prior to joining Aquarian, Ms. Muller spent her career at Guggenheim Partners where she was a member of the Commercial Real Estate investments team. In this role, she sourced, underwrote, and executed on over $5 billion of commercial real estate related transactions on behalf of the firm’s life insurance clients, including over $3 billion of commercial mortgage loans and $2 billion of direct LP equity investments. 

Ms. Muller earned her B.S. from New York University.

Case Studies

Aquarian Real Estate Partners

Central Park West

Aquarian Real Estate Partners

Central Park West

Central Park West is a landmark real estate development that spans nearly a full city block on Manhattan’s Upper West Side. Aquarian arranged and participated in the acquisition financing of the former ABC Studios headquarters, structuring a bespoke solution that provided speed and certainty of execution for Extell Development as it pursues a 1,200-foot mixed-use tower overlooking Central Park. The project represents one of the most significant ground-up development opportunities in New York City, combining trophy location, scale, and long-term value creation.

The contents of the webpages on www.aquarianlp.com are intended for the use of U.S. investors only. By clicking on this link, you acknowledge that you are entering a third-party website and may be entering another jurisdiction that has differing applicable securities laws that must be followed. Aquarian makes no representation that the contents of the site are appropriate for use in all locations, or that the transactions, securities, products, instruments or services discussed at this site are available or appropriate for sale or use in all jurisdictions or countries, or by all investors or counterparties. All persons and entities accessing this site do so on their own initiative and are responsible for compliance with applicable local laws and regulations. Nothing on this site shall be considered the provision of investment advice, or a solicitation to buy or an offer to sell a security to any person in any jurisdiction where such offer, solicitation, purchase or sale would be unlawful under the securities laws of such jurisdiction.

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The contents of the webpages on www.aquarianlp.com are intended for the use of U.S. investors only. By clicking on this link, you acknowledge that you are entering a third-party website and may be entering another jurisdiction that has differing applicable securities laws that must be followed. Aquarian makes no representation that the contents of the site are appropriate for use in all locations, or that the transactions, securities, products, instruments or services discussed at this site are available or appropriate for sale or use in all jurisdictions or countries, or by all investors or counterparties. All persons and entities accessing this site do so on their own initiative and are responsible for compliance with applicable local laws and regulations. Nothing on this site shall be considered the provision of investment advice, or a solicitation to buy or an offer to sell a security to any person in any jurisdiction where such offer, solicitation, purchase or sale would be unlawful under the securities laws of such jurisdiction.

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