When Citi made the decision to close its public finance division, Archana Chandrasekhar took a unique path. While most of her colleagues quickly found new roles in the municipal market, she chose to step back and reevaluate her career trajectory. After spending 14 years at Citi specializing in higher education, healthcare, and social infrastructure projects, Chandrasekhar realized that her skill set transcended traditional municipal finance. It was this realization that led her to embark on a new venture in the realm of real estate development.
The culmination of Chandrasekhar’s introspection and desire for a new challenge resulted in the creation of Full Moon Capital. This innovative firm focuses on investing in purpose-built or acquired real estate developments at universities and hospitals, particularly targeting small and mid-sized specialty or graduate institutions. From student housing to workforce housing and power plants, Full Moon Capital aims to support colleges in diversifying their revenue streams and offloading risk.
Chandrasekhar’s vision for Full Moon Capital was brought to life through a partnership with leaders from Rieth Jones Advisors. By combining their expertise in market analysis, design, construction, financing, and operations, the team is well-equipped to identify and execute investment opportunities in the higher education and healthcare sectors. This collaborative effort underscores the importance of a multidisciplinary approach to real estate development in niche markets.
One of the key objectives of Full Moon Capital is to provide funding for institutions that may be overlooked by traditional investment banks. While smaller schools and specialty hospitals might not attract the attention of larger financial institutions, they still represent strong credit opportunities. By leveraging their network of investors, Full Moon Capital aims to fill the gap in funding for projects that have the potential for growth but lack access to capital.
Despite the challenges facing many smaller, private colleges and the prevailing enrollment trends, Chandrasekhar remains optimistic about the opportunities in the market. She believes that there is significant potential for growth and development in specialty institutions that require support to thrive. With an estimated one-third to one-half of off-balance-sheet projects at universities and hospitals relying on equity funding, there is a clear need for innovative financing solutions.
One of the key drivers behind Full Moon Capital’s success is its ability to attract a wide range of investors. From institutional investors with a focus on social infrastructure to individuals and family offices seeking real estate opportunities, there is a diverse pool of capital available for investment. By tapping into these sources of funding, Full Moon Capital can continue to support the growth and development of niche institutions in the real estate market.
Archana Chandrasekhar’s journey from municipal finance to real estate development exemplifies the importance of adaptation and innovation in the financial industry. By recognizing the untapped potential in niche markets and forming strategic partnerships, she has positioned herself at the forefront of a burgeoning sector within the real estate industry. With Full Moon Capital poised for success, Chandrasekhar’s transition serves as a testament to the power of self-reflection and seizing new opportunities in the ever-evolving financial landscape.