Acquisition Buy Box
A precise filter. A faster conversation.
If your opportunity fits the criteria below, we want to see it. If it doesn't, we'll tell you quickly — and tell you why.
A Filter, Not a Funnel
Asset class, unit count, vintage, deal size, market.
Every submission passes through the same disciplined filter. Speed comes from clarity on the criteria — not from cutting corners on the work.
| Asset Class | Class A and Class B Multifamily |
|---|---|
| Unit Count | 100+ units preferred; will review smaller assets in priority submarkets |
| Deal Size | $25M – $150M+ (per asset); portfolios considered to $500M+ |
| Vintage | 1990+ preferred; selective older assets where location and basis justify |
| Strategy | Core-plus, value-add, recapitalization, select special situations |
| Markets | DFW · Austin · San Antonio · Houston · Phoenix · Atlanta · Charlotte/Raleigh · Tampa/Orlando |
| Hold Period | Long-term institutional; flexible across hold, refi, recap, sale |
| Leverage | Conservative; structure-appropriate (agency, life co, debt fund) |
| Review Timeline | Initial feedback within 48–72 hours on full packages (OM, T12, rent roll, debt) |
| Decision Authority | Principal-level review on every deal |
What We Pursue
High-fit profiles
- Well-located institutional Class A in established submarkets
- Class B value-add with clear operational and capex thesis
- Recapitalizations and GP/LP restructurings
- Off-market and pre-market opportunities from trusted brokers
- Portfolio aggregations within target markets
- Distressed and special situations where basis is the thesis
What We Pass On
Not the right fit
- Markets outside the eight defined metros (today)
- Sub-100 unit assets except in priority submarkets
- Heavy lift / full reposition without compelling basis
- Manufactured housing, student, and senior housing (separate platforms)
- Ground-up development as principal
FAQ — Buy Box
Buy box, clarified.
What documents should I include with a buy-box-fit submission?
An offering memorandum, trailing-12 financials, current rent roll, in-place debt summary, and any property condition or capex reports. Complete packages receive principal-level feedback within 48–72 hours.
Do you ever flex outside the stated buy box?
Yes, selectively. Off-thesis assets must clear a higher bar — typically a basis advantage, a strategic submarket position, or a structural reason (recap, assumable debt, portfolio aggregation) that warrants principal time.
Will you review smaller assets under 100 units?
We will, when located in a priority submarket or when offered as part of a portfolio that aggregates to institutional scale. Standalone sub-100-unit assets outside priority submarkets are generally a pass.
Do you consider assumable-debt opportunities?
Yes. Assumable agency, life co, and select debt-fund loans are reviewed actively where the in-place capital structure improves basis, yield, or hold optionality.
How do you handle confidentiality on off-market opportunities?
Off-market and pre-market conversations are handled with discretion at the level the seller and broker prefer — NDAs honored, distribution limited to acquisitions principals, and no shopping of the opportunity.
What happens if a deal does not fit the buy box?
We respond with a direct, specific answer — what we passed on and why — so brokers and owners can calibrate the next look. We do not ghost.
Have a Multifamily Opportunity?
Send us the package. We respond with clarity.
If it fits the mandate, we move with speed. If it does not, we tell you quickly. Time kills deals; ambiguity kills relationships.