Anyone here syndicating larger multifamily (50+ doors)?

Question

Hey! I’ve noticed a lot of people here doing well with plexes and smaller multifamily, but curious who’s syndicating larger 50+ unit apartments?

I’m on the capital raising and investor relations side of my group and would love to connect with others doing the same to exchange insights on what’s working (and not working) for raising equity in today’s market.

Todd Dexheimer · Answer

My company, Endurus Capital, purchases and syndicates 100+ unit MF in the midwest. We purchased 5 assets over the past 12 months. Happy to connect.

Chris Seveney · Answer

highly recommend connecting with Todd Dexheimer who posted below. Legit and great person to get to know

Stuart Udis · Answer

@Garret Rumbea Larger multifamily syndication is an overly broad label and using it without distinction leads to misleading comparisons. First, I would focus more on transaction size than unit count. A 50-unit building can trade for $20M+ or $1M depending on the location. Secondly, there are fundamentally different categories of operators in this space.

On one end, you have sponsors who attract institutional capital, family offices, private equity, or high–net-worth investors where the LP's often negotiate stronger terms and maintain greater control. On the other end are sponsors who rely heavily on internet fame/social media influence or alternatively guru-driven co-GP models where newly educated "Syndicators" serve as capital raisers. These categories pursue the same smaller check writers which are usually a less sophisticated investor base. These syndicators are less likely to field questions or scrutiny from potential LP's on track record, capital stack structure, GP equity investment, fee structure etc. While these syndications often provide for advantageous deal structures for the GP's the capital raising process is lengthier given the greater number of syndication participants.

Before evaluating syndication capital raising practices, it's helpful to clarify which category you’re referring to because the capital-raising strategies, deal structures, and control dynamics differ dramatically.

Garret Rumbea · Answer

@Stuart Udis not sure if you're reading too much into it or trying to make some kind of point but that's wasn't my intention. I'm just looking to connect with others actively syndicating larger deals. Do you syndicate those kinds of deals yourself?

Paige Simpson · Answer

@Todd Dexheimer we buy/sell in the midwest, based out of Rochester, MN. We are actively expanding our investor network. Curious to learn more about your companies criteria if you would like to connect.

Greg Kasmer · Answer

@Garret Rumbea - I'm in the Philadelphia area raising capital for smaller deals (5-20 units), but would be interested in connecting. I'll reach out!

Garret Rumbea · Answer

Hi @Alfath Ahmed great will dm you

Garret Rumbea · Answer

hi @Chris Seveney thanks already have!

Bobby Larsen · Answer

Yes, my company acquires ~50 to 200 unit properties across the sunbelt and Pacific Northwest - Vanamor. DM me if you want to connect.

Alfath Ahmed · Answer

I've been selling a lot of the 15-30 units in the greater ohio market. Happy to connect and share resources. Working on another larger project right now.

Anyone here syndicating larger multifamily (50+ doors)?

Anyone here syndicating larger multifamily (50+ doors)?

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