Invest in Real Estate.  Keep the Upside.
Limit the Risk.

About BHRE

BHRE gives accredited investors, both US and international, access to US residential real estate with enhanced returns and built-in protection from day one. Backed by Falco Group, an FCA-regulated investment manager with $1.3B AUM, BHRE operates an active and growing portfolio of US single-family co-ownership interests, holding title as a co-owner on every asset.

We work with multi-family offices, institutional investors and private investors to create opportunities built around stable income, long-term appreciation, and disciplined risk management.

Our strategy targets a large and underserved segment of the US housing market through a co-ownership structure not available through traditional real estate channels, deployed across co-ownership-friendly US states. The investment structure includes built-in protections addressing withholding tax, FIRPTA, and estate tax exposure.

What BHRE Does

BHRE, with its service partners, operates a fully integrated co-ownership real estate lifecycle, built for institutional precision.

Equity Capital Raising

Sourcing and structuring institutional and private capital from US and international investors, providing differentiated access to US residential real estate.

Debt Raising and Structuring

Structuring and securing leverage facilities from institutional lenders to enhance portfolio performance, while maintaining disciplined risk controls and aligning with the fund’s investment strategy and capital preservation objectives.

Live Investment Monitoring

Continuously monitoring portfolio performance and market conditions, stress-testing our credit underwriting to ensure investment criteria remain robust and returns stay on track.

Rigorous Due Diligence and Verification

Conducting rigorous due diligence on our service partners and each co-ownership transaction. We evaluate homeowner payment capacity, property condition and repair needs, title integrity, and local appreciation outlook to ensure every agreement meets BHRE’s standards for quality, accuracy, risk mitigation, and equity protection.

Oversight and Compliance

Ensuring all portfolio activities are conducted in strict alignment with established investment mandates, operational protocols, and applicable regulatory frameworks, safeguarding both performance integrity and compliance.

Investor Relations and Reporting

Delivering transparent, institutional-grade reporting to give investors visibility into portfolio activity, valuation, and return drivers. Our quarterly updates include detailed portfolio valuations, performance attribution, and clear reporting on co-ownership activity.

BHRE Product

A Co-Ownership Solution
BHRE offers investors exposure to US single-family residential real estate through a unique co-ownership model, originated and managed by our service provider, Balance Homes.

How It Works

BHRE purchases a portion of a home, pays off the mortgage and becomes a co-owner, sharing in the benefits and burdens of homeownership, including future appreciation. The homeowner continues to live in the home as the other co-owner.
During the co-ownership period, co-owners pay a monthly fee consisting of an Occupancy Waiver Fee, their proportionate share of property taxes, homeowners' insurance, and HOA fees, and a management fee. The overall co-owner monthly fee is designed to be lower than the payments the homeowner was previously making.
With the mortgage and other debts paid off, co-ownership can help rebuild the homeowner's credit score. Homeowners have access to HUD-certified counseling, credit repair support, and incremental equity buyback tools to help get their finances back on track.
There is no minimum hold period. Homeowners can buy back BHRE's share whenever they are ready, through cash or traditional refinancing, or choose to sell, with proceeds shared proportionately.

Our Service Partner

Balance Homes serves as BHRE’s originator and servicer, sourcing and managing co-ownership agreements on behalf of the portfolio.

Its mission is to help American homeowners stay connected to the homes they love by offering a flexible alternative to traditional financing when life circumstances change. Its model focuses on long-term financial health and education, helping homeowners understand their options, manage their equity, and build a plan that fits their needs.

Every situation is different, but the Balance Homes program is rooted in transparency. Before closing, an education session with a HUD-certified housing counselor ensures every homeowner understands exactly how co-ownership works, their rights and responsibilities, and what to expect. No surprises.

Balance Homes is designed to guide homeowners through a structured journey: from co-ownership back to full, independent ownership. That journey relies on genuine partnership, guidance, accountability, and a commitment to investing not just in a homeowner’s immediate relief, but in their long-term recovery.

Our Strategic Partner

BHRE operates in partnership with Falco Group, an independent, FCA-regulated investment and wealth management firm established in 2012 and headquartered in London, with an additional presence in the Dubai International Financial Centre. Falco manages over £1 billion in client assets across public and private markets, serving high-net-worth, sophisticated, and institutional investors globally.

Falco’s involvement with BHRE reflects the institutional rigor and governance standards we apply to every aspect of our operations. As a regulated firm with deep experience in private markets, real estate, and alternative investments, Falco brings independent oversight, compliance infrastructure, and investor relations capabilities that give BHRE’s investor base confidence in the platform’s transparency and accountability.

BHRE Leadership Team

The BHRE leadership team combines deep expertise in structured credit, real estate finance, private equity, and institutional operations, assembled to manage and grow a co-ownership real estate portfolio at institutional scale. Each member brings decades of senior experience across global capital markets, with a shared commitment to disciplined risk management, operational integrity, and transparent investor reporting.

Zain Abdullah

Co-Chief Investment Officer — BHRE

Zain brings over 30 years of global capital markets experience to BHRE, having held senior positions at Credit Suisse, JP Morgan, and Crédit Agricole across New York, London, and the Gulf. His career spans debt structuring, cross-border capital raising, and complex securitized credit and real estate transactions including REITs across developed and emerging markets. At BHRE, Zain co-leads the Investment Committee, overseeing portfolio construction, risk parameters, and capital deployment strategy. He was instrumental in designing the co-ownership model's underwriting framework, ensuring robust risk-adjusted returns across market cycles. Zain holds a BSc from MIT and an MBA from Columbia Business School, with a focus on Finance and Entrepreneurship.

Zain Abdullah

Co-CIO, BHRE

Richard Anderson

Co-Chief Investment Officer — BHRE & Joint Managing Director, Falco Group

Richard has over 35 years of experience in finance, real estate, and private equity. After training as a Chartered Accountant with Arthur Andersen, he worked in structured finance at County NatWest and Lazard, before leaving in the late 1990s to set up a real estate development and asset management business. Richard joined Falco in 2017 as Joint Managing Director, where he is responsible for originating and structuring real estate and private equity transactions and runs the transaction management teams. He is a member of the Chartered Institute of Taxation and holds law degrees from the Universities of Edinburgh and Oxford.

Richard Anderson

Co-CIO, BHRE · Joint MD, Falco

Susan Telesca

Chief Operating Officer & Chief Financial Officer

Susan brings over 25 years of experience leading strategic operations and financial performance at top-tier organisations including Anatomy IT and Regeneron. Throughout her career, she has designed, built, and optimised complex operational structures to drive sustainable growth and operational excellence. At BHRE, Susan oversees all day-to-day operations, including financial reporting, fund accounting, and the institutionalisation of internal processes. She ensures that the fund consistently meets the highest standards of governance, transparency, and operational integrity expected by a sophisticated global investor base. Susan holds an MBA from the Johns Hopkins Carey Business School.

Susan Telesca

COO / CFO, BHRE

Ed Steffelin

Strategic Advisor — U.S. Real Estate

Ed is a highly regarded expert in structured products and U.S. real estate, bringing over 25 years of experience across leading institutions such as Allianz, TCW, and GSC Partners. His career has been defined by the structuring and management of complex real estate credit strategies, including collateralised debt obligations and institutional investment vehicles, executed across multiple market cycles. At BHRE, Ed serves in a strategic advisory capacity to the Investment Committee, providing market intelligence, including identifying trends across the U.S. real estate markets. Ed holds an MBA from the Tuck School of Business at Dartmouth.

Ed Steffelin

Strategic Advisor, BHRE

For inquiries, please contact us at info@bhre.llc
Contact Us
About UsWhat We DoOur ProductsOur PartnersOur Leadership TeamContact Us
2026 BHRE © All rights reserved.
This material is for informational purposes only and does not constitute an offer or solicitation to invest. Past performance is not indicative of future results. Investment involves risk including possible loss of principal.