Spencer Gray

Spencer serves as the President of Gray Capital, LLC. In this role, he develops, leads and executes investment strategy, performs underwriting and due diligence of all assets in the Gray Capital portfolio as well as interfaces with investors. Since founding Gray Capital, LLC Spencer has been involved in over $700 Million in transactions. Spencer is also President and CEO of Gray Properties, LLC, a commercial real estate focused family office.

As an entrepreneur, Spencer, has founded several successful businesses in the fields of media distribution, real estate and agriculture before turning his passion for investing in commercial real estate into what is now Gray Capital, LLC . Spencer has extensive experience in a variety of real estate investing strategies since buying his first rental property in 2006. Spencer is an avid outdoorsman who enjoys rock climbing, fly fishing, archery and free diving. He is also a father to two girls. 

Alex Gray

Alex Gray serves as the Vice President of Gray Capital, LLC. She is a seasoned real estate executive and entrepreneur with nearly a decade of experience building businesses, managing projects, and delivering results. Coming from a creative background, with a focus in management, she brings a unique perspective to real estate investing and managing projects.

After co-founding and selling one of the nation’s largest hop brokerage firms (Sugar Creek Hops, LLC), she went on to co-found Gray Capital along with her husband, and partner, Spencer Gray. Alex plays a key role in setting the course and tenure in the Gray Capital strategy, as well as assist in tailoring an overall holistic approach to the investor experience. Alex graduated Parson’s The New School for Design with a BBA in Design Management. She is also a professional artist and mother to two girls.


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Gray Capital LLC
6255 Carrollton Avenue #301075
Indianapolis, IN 46230


Phone: +1 317.203.9457‬


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