The FPM Strategy

We believe that multifamily investing should be viewed from the local level, utilizing a deep understanding of community and regional dynamics to make informed, timely and effective decisions. Leveraging this perspective, in combination with in-depth data analysis, we invest in communities where we can add value and in turn better the resident experience, increase cash flow and generate attractive risk-adjusted returns.

Our firm combines sophisticated execution and operational capabilities with specialized multifamily real estate knowledge. Our commitment to only doing what we do best enables us to create lasting value for all stakeholders.

Our Approach

Utilizing a focused and streamlined process, we remain disciplined in our decision-making, investing only in well-located multifamily assets in select markets.

SOURCE

01

Think Locally

Objective: Target well-located properties with upside that can be unlocked through operational and capital improvements.

We focus on direct deal access in markets that we know inside and out, utilizing our extensive network and regional expertise to identify the most compelling opportunities.

ACQUIRE

02

Buy Thoughtfully

Objective: Acquire unique opportunities from non-institutional sellers and aggregate properties within submarkets to create local economies of scale and flexible exit scenarios.

We take an active approach to sourcing investments, utilizing our extensive network, proactively contacting owners to acquire properties outside of standard marketing processes and leveraging our understanding of local market dynamics to target specific assets.

ENHANCE

03

Improve Efficiently

Objective: Curate customized business and capital improvement plans specific to each property, striving to create better communities for our residents while increasing value for our investors.

We exclusively invest in value-add multifamily, and this focus gives us the expertise to enhance the operational and physical elements of our communities. Doing so enables us to create long-term value by creating places where residents are proud to live.

MANAGE

04

Oversee Intelligently

Objective: We apply our sophisticated, institutional asset management capabilities with a regional management approach, partnering with local teams with existing scale to carry out our business plans.

We take a hands-on approach to the entire investment lifecycle, with direct and daily oversight of all of our properties even after the completion of our repositioning work. Through our local knowledge and teams, we are able to adapt to changes in the market and deliver product-market fit.

Investment Criteria

We acquire high-quality assets in growing markets, focusing on acquisitions between $20 million and $50 million. This segment is out of reach for most individuals and below the threshold for larger institutional investors.

Geographies

High-growth secondary markets

Primarily Mountain West, Midwest and Texas

Aggregate assets to create local economies of scale

Assets

1980s and newer

100+ Units

Class A, B and Workforce

Structures

Single assets

Portfolios

Emphasis on long-term, fixed-rate financing

FPM Opportunity in Action

Polo Club

Located in northeast Austin, the Polo Club is a class B, garden-style community comprised of 296 units. Polo Club was acquired off-market at a favorable basis; and FPM has since undertaken a comprehensive renovation plan, consisting of interior and exterior upgrades.

Austin, TX

Units: 296

Infill Boise Portfolio

Interspersed throughout Boise’s urban core, the Infill Boise Portfolio is spread across five assets and 312 units. The portfolio was acquired from a long-term owner and presented FPM with the opportunity to complete a comprehensive value-add program, including full interior renovations.

Boise, ID

Units: 312

400 Element

Located in downtown Provo, UT, 400 Element is a 119-unit, Class A- apartment complex. FPM acquired the Property directly from the developer, who had completed the lease-up in just three months, leaving significant upside opportunity for a new owner. 400 Element is fully amenitized with a fitness center, pickleball court, clubhouse, subterranean parking and multiple outdoor amenity spaces.

Provo, UT

Units: 119

See All Properties