Target Markets
Eight high-growth U.S. metros. One disciplined view.
We concentrate capital where demographics, employment, and supply dynamics align with an institutional, long-hold thesis.
Eight Markets. One Thesis.
A focused U.S. growth-market footprint.
Demographics, employment, and supply alignment — concentrated where the data and our discipline agree.
Dallas–Fort Worth
The largest job-creation engine in the Sunbelt, anchored by Fortune 500 relocations and durable population growth.
Austin
A talent magnet for technology, semiconductors, and venture capital with long-term household formation tailwinds.
San Antonio
A stable, low-volatility multifamily market with defense, healthcare, and cybersecurity anchors.
Houston
Energy capital with the largest medical complex in the world and one of the most affordable major U.S. metros.
Phoenix
Semiconductor, healthcare, and logistics-driven growth supported by continued domestic migration.
Atlanta
The economic capital of the Southeast with deep institutional liquidity and Fortune 500 concentration.
Charlotte / Raleigh
Two of the fastest-growing financial and research-driven metros in the Southeast.
Tampa / Orlando
Two of Florida's most dynamic multifamily markets, supported by tourism, healthcare, and household formation.
FAQ — Markets & Buy Box
How KADAK selects and underwrites markets.
What is KADAK Multifamily's buy box?
Class A and Class B garden, mid-rise, and select high-rise multifamily communities in high-growth U.S. markets, typically 100+ units, with deal sizes from $25M to $150M+. We pursue core-plus, value-add, recapitalization, and select special situations. Full written criteria live on our Buy Box page.
Which markets is KADAK most active in?
Dallas–Fort Worth, Austin, Houston, San Antonio, Phoenix, Nashville, Charlotte, Raleigh, Atlanta, Tampa, and Orlando are core. Mountain West and Carolinas submarkets are watch-list active. We add markets when employment, in-migration, and supply dynamics justify a permanent operating presence.
How does KADAK select a market?
Four filters: diversified employment with at least two structural drivers, durable net in-migration, credible household-formation tailwinds, and a supply picture we can underwrite at the submarket level. A market that fails any of the four — even temporarily — moves to the watch list.
Will KADAK look at tertiary or secondary markets?
Selectively. A tertiary market must have a credible primary-employer thesis, real housing-formation pressure, and submarket-level supply visibility. Story deals in thin markets without that foundation are a fast no.
What vintage and unit count does KADAK target?
Class A: typically 2015+ vintage, 150+ units, in supply-absorbing submarkets. Class B: 1995–2010 vintage, 100+ units, where a defined operating thesis can drive yield-on-cost expansion through hold. We do not chase 1970s-era deep value-add as a strategy.
Does KADAK acquire student or seniors housing?
No. Our mandate is conventional market-rate multifamily — workforce and lifestyle communities serving the broad rental population. Student, seniors, manufactured housing, and short-term rentals are outside the buy box.
How does KADAK underwrite insurance and property taxes?
Bottom-up. Insurance is built off live carrier quotes and projected forward at a rate consistent with submarket loss history — never a generic CPI bump. Taxes are modeled to assessor methodology with post-sale reassessment risk priced explicitly. Both are the difference between a real underwrite and a marketing model.
Will KADAK look at new construction or lease-up assets?
Yes — at the right basis. Class A lease-up at a meaningful discount to replacement cost is one of our highest-conviction trades in the current cycle. We will not chase stabilized pricing on partially leased rent rolls.
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.