Commercial Real Estate Profile: Jay Caplin | investor, Miami

Jay Caplin and Gavin Campbell formed Steelbridge Capital in 2008 to take advantage of what they believed were recovering office markets with distressed and undervalued assets in Florida and Illinois.

The strategy appears to have paid off — even though Steelbridge has gone against the grain of many institutional investors by focusing on secondary markets like Naples.

In all, Steelbridge now owns a half dozen Florida office buildings or complexes totaling 1.8 million square feet of space, including the seven-story SunTrust Building and the Offices at Pelican Bay in Naples.