Building a Multifamily Acquisition Platform: What Do LP's Want to See?

[Steven Jaszcz]

I'm curious how other multifamily sponsors and passive investors are seeing the market right now.

I'm currently building North Shore Equity Partners, a multifamily acquisition platform focused on workforce housing and value-add apartment communities throughout Michigan growth markets and select Midwest secondary and tertiary markets.

Our strategy targets 30+ unit Class B, B-, and C+ multifamily assets with strong in-place cash flow, operational upside, and clear value-add potential. We are particularly interested in opportunities that can be acquired below replacement cost and improved through disciplined operational and capital improvement strategies.

As we continue building relationships with investors, operators, and industry professionals, I'm interested in hearing from the BiggerPockets community:

• Are passive investors still actively allocating capital to multifamily syndications in today's environment?

• What are LPs looking for most when evaluating a new sponsor or investment opportunity?

• For experienced sponsors, what was the biggest challenge in attracting your first group of investors?

• For passive investors, what would make you take a meeting with an emerging multifamily sponsor?

I'd love to hear perspectives from both active and passive investors. If you're investing in multifamily, building a syndication business, or simply interested in connecting, feel free to comment below or send me a direct message.

Looking forward to learning from the community.