Net Lease Real Estate



We invest in net lease real estate assets with intrinsic value driven by ownership or financial complexities, market conditions or restructuring opportunities.


  • Net Lease Retail, Office and Industrial Properties
  • Nationwide
  • Both Credit and Non-Credit Tenants
  • Transactions in Excess of $1 Million
  • No Maximum Transaction Size
  • Single Assets or Portfolios
Class A Office Building One Class A Office Building Two


Take 5
Take 5

Provide a seamless Build-to-Suit (”BTS”) development program for net lease tenants, allowing them to focus on their core objective: running a successful business.

Development Program

Our Development Program is a full turnkey development service. We manage the core aspects of the development process in-house, beginning with collaboration on site selection and concluding with the delivery of a fully constructed building: on time and on budget.


We provide 100% of the capital required for the real estate, including the purchase of the land and the soft and hard costs associated with construction. The tenant is only responsible for the cost of their furniture, fixtures and equipment and lease execution: we take care of the rest.

  • 100% of the required capital for BTS developments
  • Guidance and direction from professionals with deep development experience
  • Attractive economics
  • Streamlined process designed to reduce the development timeline
  • Quick underwriting and execution


BayHill Realty Capital (“BRC”) is a real estate investment firm focused on the opportunistic acquisition and development of all types of net lease properties. BRC joint ventures with leading institutional capital partners on its projects, allowing us to execute decisively on any acquisition or development opportunity.

​Collectively, the firm’s principals have over 27 years of real estate business experience in partnership with industry leading professionals and institutions. Cumulative transaction experience of the principals exceeds $4.0 billion in real estate private equity, investment, development management and finance.

Benjamin A. Elder
Founder & Managing Principal

Mr. Elder has over 17 years of real estate industry experience. Prior to founding BayHill Realty Capital, Mr. Elder was a Director of Stanford University’s Real Estate Group overseeing approximately $1 billion of the University’s $2.4 billion direct-owned real estate portfolio which included a luxury hotel, Class A office, office development, senior housing, apartments and a regional high end shopping center. Prior to Stanford, Mr. Elder was a partner at Starwood Capital Group, a real estate private equity firm with over $29 billion of assets under management. At Starwood, he managed approximately $2.9 billion of office, shopping center, hotel, senior housing and developable land projects nationwide. Mr. Elder joined Starwood from Stockbridge Capital Group, a real estate private equity firm with over $5 billion of assets under management, where he managed the acquisition and development of several investments in their opportunistic private equity funds. Mr. Elder began his career in New York in the Real Estate Asset Advisory Services group of PricewaterhouseCoopers.

Mr. Elder is a graduate of Colgate University and is a licensed California real estate broker.

Justin Stark
Managing Director/Partner

Mr. Stark has over 10 years of commercial real estate experience. Prior to BayHill Realty Capital, Mr. Stark was one of the founding members of the Stan Johnson Company’s San Francisco office where he advised corporations, private equity sponsors, and developers in the structuring and disposition of net lease assets across the country. During this time, he worked on behalf of corporations to originate and execute new unit development and sale leaseback programs to facilitate organic growth and M&A transactions. Prior to the Stan Johnson Company, Mr. Stark helped form the Leased Investment Group at Cornish & Carey Commercial (Now Newmark Knight Frank), where he represented developers on the disposition of newly constructed commercial properties nationwide.

Mr. Stark graduated from Suffolk University with a B.A. in Business Administration.

Bayhill Realty

BayHill Realty Capital, LLC
(650) 731-2733