Heritage buildings transformed for the way people live now.
Aukeo Living acquires overlooked landmarks — offices, hotels, theaters, warehouses — and gives them a second, more useful life as homes, workplaces and gathering places.
The best buildings have already been built.
Every generation inherits a stock of extraordinary structures — built with craftsmanship and materials that would be uneconomic to reproduce today. Many now sit idle, misaligned with how people actually want to live and work.
Aukeo Living exists to close that gap. We acquire architecturally significant, functionally obsolete buildings and reposition them through adaptive reuse — preserving what matters, replacing what doesn't, and returning them to daily use. It is a strategy that is at once financially disciplined and quietly civic.
A discipline, not a style.
Adaptive reuse is often romanticized. We treat it as an operating discipline — underwritten conservatively, executed by specialists, and measured against clear return thresholds.
Irreplaceable assets
We buy locations and structures that cannot be recreated at today's costs — the source of durable, long-term value.
Basis discipline
We acquire well below replacement cost, creating a margin of safety before a single dollar of renovation is spent.
Specialist execution
Historic tax credits, structural retrofits and entitlement risk are handled by teams who do only this work.
Enduring use
Every project ends as a living building — leased, occupied and woven back into the fabric of its neighborhood.
Office to Residential
Theater & Cultural
Industrial Loft
“We are not in the business of building the new. We are in the business of making the remarkable useful again.”
Alexandra Pohl · Founder & CEO
Read the founder's letter →Four gates, applied without exception.
Every acquisition passes through the same underwriting discipline. Deals that fail any gate do not proceed — regardless of how compelling the story.
Source & screen
Off-market and distressed opportunities are screened for architectural merit and viable reuse.
Underwrite
Basis, credits, structural condition and market demand are stress-tested against conservative assumptions.
Execute
Specialist partners deliver the retrofit, entitlement and credit monetization on a fixed plan.
Steward
Stabilized assets are leased, operated and held or realized to maximize risk-adjusted return.
Twenty-nine funds, one discipline.
Each Aukeo fund is a Delaware limited partnership targeting a distinct reuse strategy, unified by a shared underwriting standard. The 29-fund platform spans 21 investment funds plus operations and reserve capital across the 2026 and 2028 vintages.
Explore all 21 investment funds →Office to Residential
$2.720B · Hotel and Office to Residential Conversion.
Civic & Historic
$5.594B · Civic, Institutional and Historic Preservation.
Theater & Entertainment
$1.400B · Theater and Entertainment Venue Adaptive Reuse.
University District
$4.520B · University District Mixed-Use.