Capistrano is a fee-only CRE decision desk founded by Cody Leivas. He produces principal-reviewed underwriting, lease abstracts, investment memos, and capital-raise materials, and holds an MS in Real Estate from Chapman University and an MS in Investment Management and Financial Analysis from Creighton University.
The firm has advised on more than $750M of transactions and currently supports asset-management reporting on more than $30M of holdings.
Cody also holds a principal role at Bluebird, a separate industrial CRE platform. Engagements that could overlap require written disclosure to all parties.
Meet the Founder
Cody Leivas
Capistrano is a fee-only CRE decision desk founded by Cody Leivas. He produces principal-reviewed underwriting, lease abstracts, investment memos, and capital-raise materials, and holds an MS in Real Estate from Chapman University and an MS in Investment Management and Financial Analysis from Creighton University.
Every workflow Capistrano sells is one Cody reviews before it ships — the underwriting model, the offering-page system, the IC memo voice, the lease-abstract schema.
The firm has advised on more than $750M of transactions and currently supports asset-management reporting on more than $30M of holdings.
Cody also holds a principal role at Bluebird, a separate industrial CRE platform. Engagements that could overlap require written disclosure to all parties.
"Same schema. Founder-reviewed. The system stays with you."
Areas of Expertise
What We Produce
Analysis and production materials. Not a fund, not a broker.
Capistrano produces commercial real estate analysis and capital-raise materials. We build proformas, abstract leases, write investment memos, design offering pages, and ship the materials sponsors need to win deals. We do not provide brokerage, investment management, accounting, tax, legal, or securities counsel services. We do not act as a registered investment adviser, broker-dealer, or CPA firm. Production deliverables are work product; all decisions remain with the client and their designated advisors.
Our Principles
The Foundation of Every Engagement
Founder review
Every deliverable is reviewed by Cody before it ships. No exceptions.
Schema first
Same field structure on every deal. The work compounds.
Cycle time honored
The number on the engagement letter is the number we hit.
The system stays
Models, prompts, and schemas are yours after every engagement.
Conflict-free
We don't broker, place capital, or take success fees. Production only.
Discretion
What lands on our desk stays on our desk.
Founder review
Every deliverable is reviewed by Cody before it ships. No exceptions.
Schema first
Same field structure on every deal. The work compounds.
Cycle time honored
The number on the engagement letter is the number we hit.
The system stays
Models, prompts, and schemas are yours after every engagement.
Conflict-free
We don't broker, place capital, or take success fees. Production only.
Discretion
What lands on our desk stays on our desk.
Credentials & Experience
A Foundation of Expertise
10
Years in Real Estate
$750M+
Transaction Experience
Founder
Capistrano
MS Real Estate
Chapman University
MS Investment Management
Creighton University
Professional Affiliations
NAIOP
NAIOP, Commercial Real Estate Development Association
Member
ULI
Urban Land Institute
Member
Chapman University, Alexander E. Hayden School of Real Estate
Young Executive Advisory Council
Start a Conversation
We work with a limited number of clients each year. Introductory conversations are designed to assess fit and alignment.