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Director of Capital Markets

Andy appears in the Top 100 

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Andy Thelen


With over seven years of experience in commercial real estate, Andy Thelen is a master of opportunity. Specializing in acquisitions and retail developments, he closed $10 million during his first year in the industry alone, simply by Googling companies and pitching them. In 2022, he closed $185 million across 11 states, including a $26 million-dollar shopping center, where he secured both the debt and equity on the project. Determined to do things better, Andy got into the industry to make a difference. As director of capital markets for The Criterion Fund, Andy acts as a part owner, providing capital to developers that need funds for their projects on the equity side. In turn, he’s able to give everyday retail investors, family offices and funds the ability to invest in high-class investment projects that they otherwise might not be able to. Andy chooses which projects to invest in by making sure they provide strong returns with stretched underwriting including longer hold times and lower sale prices.


With the goal of providing continued checks to investors, the organization looks for properties to buy at deals ranging from 25,000 to 200,000 square feet with a projected stabilized 12 percent cash-on-cash return. “We’re truly focused on putting the investors first, no matter the cost and search for deals we believe provide the best value,” he states. Prior to joining The Criterion Fund, Andy spent six years in capital markets at The Woodmont Company, where he ran the division. Now, with an intricate understanding of real estate fundamentals and what makes a good investment, he’s in a unique position to help others grow their investments. “For me, it’s about getting to know the individual investors,” he shares. “I’m fortunate to be in a position where I’m able to provide investors the opportunity to invest in the projects that we do. It’s really what I enjoy most.”


Andy holds a degree in finance with an emphasis in real estate from Texas Christian University. He’s also a member of the advisory board at the TCU Center for Real Estate.


Andy Thelen

Director of Capital Markets — The Criterion Fund



Instagram: TheCrtierionFund

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