We concentrate on necessity-based housing in markets with durable demand and constrained supply. Sonoma County is a core lifestyle market we know well, and we also track select Western U.S. submarkets where fundamentals support long-term ownership.
Sonoma County is a desirable lifestyle market where high quality-of-life drivers meet meaningful constraints on new housing supply. These conditions can support resilient occupancy and long-term rent demand when paired with disciplined underwriting.
We expand only where the same underwriting standards apply. Market selection is driven by fundamentals that support long-duration ownership.
Employment diversity, household formation, and affordability relative to nearby alternatives.
Zoning constraints, limited new deliveries, and cost-to-build that supports existing rents.
Clear operational upside: management improvements, renovations, and resident experience.
Conservative leverage, realistic exit assumptions, and downside sensitivity analysis.
Local rental regulations, permitting realities, and a practical approach to compliance.
Avoiding forced decisions: adequate reserves and structures built for flexibility.
We share updates when we have an opportunity that matches our underwriting and market criteria. Join the investor list to receive periodic updates.
