Obsidian Group is a Minneapolis-based commercial real-estate investment and brokerage firm that acquires, repositions, and manages industrial, office, and retail properties. What sets them apart is that they don’t only act as brokers — they also invest directly. Their acquisition arm targets underperforming and value-add commercial properties (with a particular focus on small-bay industrial assets), aiming to unlock value through active leasing, repositioning, and improved property management.

Through their in-house brokerage division, Obsidian offers a full suite of services: tenant representation, buyer/seller representation, landlord representation, and investment-sales services. This dual role gives them a unique “insider’s lens” on both the investment and leasing sides — enabling them to manage assets they own, while also assisting external clients with real-estate transactions.

Though Obsidian markets itself as a commercial real-estate sponsor and operator, the firm does not publicly disclose a firm-wide IRR or average annual return (AAR) metric. Their value proposition leans on active asset management, value creation through repositioning and leasing, and a hands-on operations approach — rather than on a standardized return-reporting framework. As with many private opportunistic real-estate firms, prospective investors are likely expected to perform due diligence on a deal-by-deal basis.