Decades of Experience.
Hundreds of Properties.

Our Managing Partners have acquired, renovated, and exited hundreds of investments across major U.S. markets including San Francisco, Chicago, Los Angeles, and Ohio.

View Full Track Record

Decades of Experience.
Hundreds of Properties.

Our Managing Partners have acquired, renovated, and exited hundreds of investments across major U.S. markets including San Francisco, Chicago, Los Angeles, and Ohio.

View Full Track Record

Decades of Experience.
Hundreds of Properties.

Our Managing Partners have acquired, renovated, and exited hundreds of investments across major U.S. markets including San Francisco, Chicago, Los Angeles, and Ohio.

View Full Track Record

$1.5Bn +

$1.5Bn +

$1.5Bn +

Capital placed since 1990

Capital placed since 1990

Capital placed since 1990

35+ Years

35+ Years

35+ Years

Operating through market cycles

Operating through market cycles

Operating through market cycles

4,000+ Units

4,000+ Units

4,000+ Units

Historical ownership
of full-cycle deals

Historical ownership
of full-cycle deals

Historical ownership of full-cycle deals

21.44% IRR

21.44% IRR

21.44% IRR

Historical returns
on full-cycle deals

Historical returns
on full-cycle deals

Historical returns on full-cycle deals

SF MARKET EXPERIENCE

Decades of local experience navigating SF’s famous peaks and valley cycles.

Proven execution through 1990s and 2008–2017 rebounds (tripled equity twice across 1,500+ units and 28 buildings).

Real Company’s local expertise delivers strong results in a complex market.

$1.16B in sales (1992–2024) with 23.97% AAR (Unlevered) and 1.66x EM (Unlevered).

Exploring ADUs, SRO conversion, or layout changes when appropriate

Results From a Disciplined, Value-Add Strategy

  • Thousands of units repositioned across multifamily, office, and mixed-use assets.

  • Proven performance through multiple market cycles, including 2020.

  • Up to 3x equity multiples and 50%+ IRR on select deals.

  • $100M+ in gross profit generated.

  • Diverse experience: coliving, office, mid-term rentals, infill, redevelopment.

View San Francisco Thesis

View full investment history and performance