About us
Pelican is a privately held family investment firm with a long history of owning, operating, and investing in real estate and private businesses.
For over 40 years, Pelican has built a diversified portfolio spanning multifamily housing, retail, and other real estate assets, supported by fully integrated construction and property management capabilities. Today, the next generation of the family is building on that foundation by expanding into new markets, property types, and investment opportunities.
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Multifamily has been a core component of Pelican's real estate portfolio, with decades of experience owning, developing, and managing properties. We continue to pursue institutional-quality communities, typically 200 units or larger, with a preference for garden-style properties that are newer construction or recently renovated.
200+ unit communities
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Pelican is actively building a portfolio of small-bay and light industrial properties, targeting properties with broad tenant appeal, durable demand, and strong long-term fundamentals. We focus on opportunities to create value through active ownership and operational improvement.
Small-bay / light industrial
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Mazal Capital is an independent arm of Pelican, with a broad investment mandate focused on entrepreneurship through acquisition in the U.S. and globally. Mazal invests across traditional search funds, self-funded searches, holding companies, and roll-up vehicles, providing flexible capital across equity, debt, and related real estate.
Entrepreneurship through acquisition
Founder
Ben Farahi is the Founder of Pelican and managing partner of multiple private real estate partnerships within the Farahi Family Office. Over more than 40 years, he has personally developed, renovated, financed, and managed residential and commercial real estate, with a focus on long-term ownership. Ben also holds a Nevada General Contractor's License.
From 1993 to 2006, Ben served as Co-Chairman of the Board, Chief Financial Officer, Secretary, and Treasurer of Monarch Casino & Resort, Inc. (NASDAQ: MCRI). During his tenure, he led the financing and development of the Atlantis Casino Resort Spa from inception through its major expansion phases.
Ben holds a B.S. in Mechanical Engineering from the University of California, Berkeley, and an MBA from California State University, East Bay.
Founder & Managing Partner, Mazal Capital
David is the Founder & Managing Partner of Mazal Capital, where he is responsible for the investment strategy and day-to-day management of the firm. David also manages a private alternative investment vehicle on behalf of the Farahi Family Office, comprising limited partnership investments in private equity and venture capital funds as well as a broad portfolio of angel investments.
Prior to founding Mazal Capital, David was a key member of the investment teams at Geolo Capital, the private equity investment arm of John A. Pritzker's family office, and The Moinian Group.
David graduated from Cornell University's Hotel School and received his MBA from the Wharton School at the University of Pennsylvania. While at Cornell, David co-founded Dos Amigos, a Mexican food truck that has since grown into a restaurant and bar in Ithaca's Collegetown.
Head of Industrial Real Estate
Michael Farahi leads Pelican's industrial real estate strategy and is responsible for sourcing, evaluating, and executing acquisitions as the family expands into small-bay and light industrial properties. He previously served as Chief Financial Officer of Pelican LLC, working across acquisitions, finance, and operational oversight for the Farahi Family Office's real estate activities.
Previously, Michael worked in investment banking at Livingstone Partners, where he was a generalist across M&A advisory and capital markets transactions, and gained additional investment experience with Neo Investment Partners.
Michael holds a B.S. from the Marshall School of Business at the University of Southern California and an MBA from Columbia Business School.
Multifamily | Sparks, Nevada
Multifamily | Carson City, Nevada
Retail | Reno, Nevada
Private Business Investment
Private Business Investment
Private Business Investment
We welcome investment opportunities and general inquiries. Please use the form below to connect with our team.