Get accredited LPs outside of your network.

I'll keep this short.

Ten years ago I started a boutique real estate firm in Boston with one rule, which was simply to finish what we underwrote, and that rule has now carried us through 350 transactions and a hundred and eighty nine of a hundred and eighty nine multifamily deals closed since 2016.

Today we own roughly a thousand rental doors across five states with a 99% close rate behind every one of them.

If you are an accredited investor evaluating a multifamily sponsor, the next six minutes will tell you whether Crest City Capital belongs inside your real estate allocation.

Here is what is actually happening in multifamily right now.

The rate shocks of the last few years pushed a lot of over-leveraged sponsors out of the market and assets are still repricing, which means the sponsors who never stretched their underwriting in the first place are now buying at the best basis any of us have seen in a decade.

We have spent the last four years acquiring value-add multifamily in the Sunbelt across Atlanta, Columbia, Charlotte and Baltimore, eight assets and 1,173 units concentrated in the migration corridors where jobs and population keep compounding while the Northeast bleeds residents year after year.

This is not a thesis we came up with last quarter, because we have been building it one deal at a time since 2020 and the portfolio reflects that patience.

Because we are boutique we do not have to deploy a billion dollars, so we pick the deals we actually want to own rather than the deals that fit an institutional mandate.

Since 2016 the firm has closed 350 transactions, $164 million in volume, a thousand rental doors and sixty plus properties across Massachusetts, Georgia, South Carolina, North Carolina and Maryland.

Our close rate is 99%, which is not a marketing number because what it actually means is that we underwrote 189 deals and we closed 189 deals without retrading, without walking away after inspection and without blowing up earnest money on the way to the table.

The current Sunbelt strategy targets 14 to 18% IRR net to LPs over a three to five year hold with a fifty thousand dollar minimum investment under Reg D 506(c) for accredited investors only.

These numbers are target ranges across the current strategy, and deal-level specifics come to you inside the PPM once accreditation is verified and the NDA is signed.

At a boutique shop the team is the product, because there is nowhere to hide weak operators inside a thirteen-person firm.

I'm Brad and I personally review every acquisition the firm makes, with sixteen years in real estate and most of that time spent operating inside Boston's hardest submarkets.

Stephanie Bourque runs acquisition, underwriting and asset management for the firm with eight years of direct experience in the Boston market.

Conor Bradley models every deal we evaluate, having come to us from four years as a financial analyst at Cushman and Wakefield after a Villanova economics degree.

Roy George runs investor relations, Christina Hadden runs finance and Judi Weiner runs accounting, which keeps the internal stack of underwriting, capital, reporting and compliance owned by the same small team that has been together for years.

There is no dilution of accountability here, because when you invest with Crest City you are dealing with us directly rather than a layered platform.

Most sponsors in multifamily are either too small to matter to an accredited allocator or too large to call you back once the capital is in.

Crest City Capital is the middle path that very few firms actually occupy, because we have enough volume to carry institutional discipline across the underwriting stack, the property management relationships and the lender network, while staying small enough that when you invest you talk to the principal.

When the market moves in either direction you get a direct update from the founder rather than a quarterly investor letter written by a junior analyst two states away.

If you have ever felt like capital number four thousand at a mega-sponsor and watched your questions get routed through an IR desk, this is the alternative that sits on the other side of that tradeoff.

The current strategy is value-add multifamily in the Sunbelt at a 14 to 18% target IRR over a three to five year hold with a fifty thousand dollar minimum investment, structured as Reg D 506(c) for accredited investors only.

The investor portal runs on Juniper Square with accreditation verified under SEC rules by a third party, subscription documents are fully electronic and wire instructions come at close so there is no paperwork loop between letter of intent and capital call.

There is no promote stacking and no hidden fees at the fund level, which keeps the economics aligned with what institutional LPs would expect to see if they were evaluating us against a mid-market private real estate manager.

If what I have described fits how you think about multifamily and where the cycle is today, book a fifteen minute briefing with me directly using the calendar link below this video.

We will walk through the current Sunbelt strategy, the track record, your allocation goals and whether Crest City fits alongside the other sponsors you are already evaluating, all in a single conversation with no pitch deck and no pressure.

If the fit is not there we will both know inside fifteen minutes and move on, and if it is there we will walk through next steps on the same call.

The calendar link is below this video.