Stonelake Capital Partners
Private equityAustin · 54 people tracked
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Investment thesis
Stonelake pursues a real estate investment strategy built on four cornerstones: niche equity investment sizes of $5-50M to access a less competitive market with better risk-adjusted returns; concentration in 14 high-growth U.S. Sunbelt markets, nine of which have no state income tax; a fully integrated operating structure spanning asset management, property management, construction, and development for stronger risk oversight; and a focus on three primary asset types. These include acquiring and aggregating infill industrial, developing Class-A industrial warehouses, developing Class-A multifamily near urban cores, and developing Class-A office in walkable, 24-hour locations. The firm leverages Sunbelt trends such as population migration, low taxes, employment growth, and affordable living.
Source: firm website, verified Aug 6, 2026.
Team · 54 people
from the firm's websiteCo-Founder and Managing Partner of Stonelake Capital Partners who directs the firm's institutional investments.
Co-Founder and Managing Partner of Stonelake Capital Partners who directs major capital transactions.
Brenda L. Gaines is a Director at Stonelake Capital Partners. Her work focuses on multi-family real estate asset management, including project launches and lease-up of urban multi-family properties.
Cal O. Spangler is a Director of Investor Coverage at Stonelake Capital Partners, with experience in the venture capital and private equity industry. He holds a Master of Business Administration in Finance from The University of Texas at San Antonio.
Christian C. Marquardt is an Investment Analyst at Stonelake Capital Partners, where he works on the acquisition, asset management, development, and disposition of industrial real estate assets. His responsibilities include underwriting proposed real estate opportunities and supporting asset management across the Nashville, Tampa, Orlando, Houston, and San Antonio markets, covering activities such as lease renewal negotiations and construction contracting. He holds a degree in Business Administration with a specialization in Urban and Regional Planning from the University of Florida.
Cole J. Nascone is an Investment Analyst at Stonelake Capital Partners. His responsibilities include investment analysis, asset management, and development activities.
Dawn E. Bolen is a Senior Property Manager at Stonelake Capital Partners with a background in property management, lease negotiations and strategic planning. She previously held senior property manager and property manager roles at Mode Real Estate Management Services in Scottsdale, New York Community Bancorp in Westbury, New York, and Healthcare Realty Trust in Scottsdale, managing office, medical, retail and mixed residential/commercial portfolios ranging from 100,000 to 3 million square feet. Bolen holds real estate broker licenses in Arizona, Tennessee and Georgia.
Faith F. Hegner is a Senior Property Manager at Stonelake Capital Partners. Her experience includes managing commercial office, retail, and industrial properties.
Investments · 1 tracked
founders shown can be your intro pathOther
Tracked investments with no reachable website or further public details — typically companies that wound down, renamed, or were absorbed.
West 10
Fund performance · per public LP disclosures
as of Sep 2025| Fund | Vintage | Committed | Net IRR | TVPI | DPI |
|---|---|---|---|---|---|
| Stonelake Opportunity Partners VIILPs: Maine Public Employees Retirement System | 2022 | — | -4.6% | 0.95x | — |
Source: public limited-partner disclosures (CalPERS, CalSTRS). Net IRR / TVPI / DPI as reported by the limited partner; a fund's early-year IRR is an interim estimate (J-curve).
Frequently asked questions
- What is Stonelake Capital Partners's typical check size?
- Stonelake Capital Partners typically writes checks of $5M – $50M.
- What sectors does Stonelake Capital Partners focus on?
- Stonelake Capital Partners focuses on PropTech.
- Where is Stonelake Capital Partners located?
- Stonelake Capital Partners is headquartered in Austin, US.
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