Meet Josh
We've built a multifamily portfolio valued at ~$100M+.
I purchased my first rental property in Florida in 2010. I switched to multi-family shortly thereafter once I realised that the path to scale and grow a massive portfolio was through buying apartments. I started Three Pillars Capital Group and have built an amazing team and portfolio. We continue to grow to $300M by 2020.
Our primary focus is on acquiring opportunistic Class B & C multifamily properties. We look for properties that are in need of new management and operational policies and interior and exterior renovations. So far, my team and I have done a phenomenal job in creating value for our tenants and investors. You can explore more here and on Three Pillars Capital Group.
KEY PARTNERS
SEE WHAT SOME OF OUR GREAT KEY PARTNERS HAVE TO SAY
Key Partner on La Sonrisa Apartments
Key Partner on Camino Del Sol Apartments
Key Partner on Rio Sereno Apartments
Key Partner on Sycamore Gardens Apartments
KEY PARTNERS UNDER CONSIDERATION RIGHT NOW
Key Partner
Under Consideration
Key Partner
Under Consideration
Key Partner
Under Consideration
Key Partner
Under Consideration
Key Partner
Under Consideration
CASE STUDIES
KEY PARTNERS WHO PROGRESS TO GENERAL PARTNERS OR PARTNERED UP WITH OTHER KEY PARTNERS TO DO THEIR OWN DEAL
4 Key Partners partnered up to do their own deal
JP from New York, Steffen from Houston, Rory from Charlotte and Dan from Portland were selected as Key Partners after much consideration.
After months of going through the operations as a KP, they were given the opportunity to take down their own multi-million dollar apartment deal- Monterrey Vista Apartments.
We introduced them to one another and gave them their own off-market deal that the seller brought to us. We introduced them to our team at CBRE to get them a Freddie Mac deal and signed on as the sponsor. We introduced them our attorney, CPA, etc.
General Partner
Started as a Key Partner on 56-unit Sycamore Garden
Became a General Partner on 96-unit Pine Lake Village
Became a General Partner on 196-unit Green Tree
Became a General Partner on 168-unit Ridge Point
General Partner
Started as a Key Partner on 56-unit Sycamore Garden
Became a General Partner on 122-unit Camino Del Sol
Becamce a General Partner on 196-unit Green Tree
General Partner
Started as a Key Partner on 40-unit La Sonrisa
Became a General Partner on 96-unit Pine Lake Village
ACQUISITIONS
COMPLETED ACQUISITIONS AND DEALS BELOW
RIDGE POINT APARTMENTS
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Deal Summary
Excellent property located right next to NRG stadium. This is a property that fits well in TPCG’s portfolio. The play for this property is similar to previous ones. The sub-market is a very dense and a solid Class B market and it was 95% occupied on take over. The leasing strategies used on the other properties continue to perform well will apply to this property as well. The construction crew and maintenance team will be the same. They understand tenant demands in this market and know how to cater to them.
Management Team: Three Pillars Capital Group
Rehab Manager: Mike C.
Pre-Rehab Occupancy: 95%
Post Rehab Rent Increase Expected: ~15-20%
NOI Increase Expected: 25-30% (based on conservative underwriting)
Expense Ratio Expected: Avg. 47-48% over hold period
Key Partners: Select after extensive interviews.
GREEN TREE PLACE APARTMENTS
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Deal Summary
This is a property that fits well in TPCG’s portfolio. The play for this property is similar to previous ones. The sub-market is a very dense and a solid Class B market and it was 93% occupied on take over. The leasing strategies used on the other properties continue to perform well will apply to this property as well. The construction crew and maintenance team will be the same. They understand tenant demands in this market and know how to cater to them.
Management Team: Three Pillars Capital Group
Rehab Manager: Mike C.
Pre-Rehab Occupancy: 93%
Post Rehab Rent Increase Expected: ~15%
NOI Increase Expected: 30% (based on conservative underwriting)
Expense Ratio Expected: Avg. 47-48% over hold period
Key Partners: Select after extensive interviews.
CAMINO DEL SOL APARTMENTS
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Deal Summary
This is a property that fits well in TPCG’s portfolio. The play for this property is similar to previous ones. The sub-market is a very dense and a solid Class C market and it was 89% occupied on take over. The leasing strategies used on the other properties continue to perform well will apply to this property as well. The construction crew and maintenance team will be the same. They understand tenant demands in this market and know how to cater to them.
Management Team: Three Pillars Capital Group
Rehab Manager: Mike C.
Pre-Rehab Occupancy: 89%
Post Rehab Rent Increase Expected: ~15%
NOI Increase Expected: 35-40% (based on conservative underwriting)
Expense Ratio Expected: Avg. 47% over hold period
Key Partners: Select after extensive interviews.
PINE LAKE VILLAGE APARTMENTS
Click for details about this acquisition
Deal Summary
This is a property that fits well in TPCG’s portfolio. The play for this property is similar to previous ones. The sub-market is a very dense and a solid Class B market and it was 92% occupied on take over. The leasing strategies used on the other properties continue to perform well will apply to this property as well. The construction crew and maintenance team will be the same. They understand tenant demands in this market and know how to cater to them.
Management Team: Three Pillars Capital Group
Rehab Manager: Cody S.
Pre-Rehab Occupancy: 92%
Post Rehab Rent Increase Expected: ~20%
NOI Increase Expected: 30-35% (based on conservative underwriting)
Expense Ratio Expected: Avg. 45% over hold period
Key Partners: Select after extensive interviews.
