Institutional Multifamily Investments in Texas

We Don't Buy Buildings.
We Build an Operator.

Brick River Capital acquires, operates and scales workforce housing in Texas secondary markets through disciplined underwriting, operational improvement and strategic exit execution.

Request Investor Deck View Investment Strategy

Target returns are illustrative and not guaranteed. Investments involve risk and are subject to final offering documents.

300+
Units Target
$25M
Portfolio Vision
15–17%
Target IRR
5–7
Year Hold
Investment Thesis

A Platform Thesis, Not a One-Asset Bet.

Brick River Capital is focused on building a repeatable operating platform across Class B / B- multifamily assets in Texas secondary markets. The strategy targets properties with below-market rents, depressed NOI, light CapEx needs and operational upside that can be institutionalized over a 5–7 year hold.

01

Submarket Rent Gap

We target assets where in-place rents sit below achievable market levels, creating room for gradual revenue growth without breaking affordability.

02

Operational Improvement

Value is captured through better management, expense discipline, occupancy improvement and selective renovations.

03

Disciplined Financing

Target leverage between 60%–75% LTV to protect downside and optimize equity returns.

04

Exit Discipline

Exit through refinance or sale once NOI stabilizes and institutional value is created.

Fort WorthDallasHoustonAustinEl Paso San AntonioNew BraunfelsSan MarcosCorpus ChristiKingsville
Texas Target Markets

Texas Secondary Markets Still Offer Spread.

Texas combines population migration, job growth, business-friendly regulation and structural demand for affordable workforce housing. Brick River Capital focuses on markets where institutional capital has not fully compressed the spread, but demand remains durable.

  • San Antonio
  • I-35 Corridor
  • Kingsville
  • Corpus Christi
  • New Braunfels
  • San Marcos
2026 Portfolio Vision

Building Toward 300 Units of Texas Multifamily.

Our 2026 objective is to consolidate a Texas multifamily platform of approximately 300 units under a repeatable cash-flow thesis, professional management and institutional-grade reporting.

$25M
Estimated Portfolio Value
300+
Target Units
15–17%
Target IRR
1.7x–2.0x
Target MOIC
7%+
Cash Flow Target From Year 2
35%
Estimated Equity Requirement

Targets are illustrative and subject to market conditions, financing, acquisition pricing and operating performance.

Acquisition Criteria

What We Look For

Brick River Capital targets assets where the path to value creation is clear before acquisition: rent gap, operational inefficiency, manageable CapEx and a realistic exit.

    Representative Acquisition Targets

    The Type of Asset We Underwrite.

    Examples of the type of multifamily assets aligned with our acquisition and underwriting criteria. These are not active offerings.

    PropertyMarketUnitsPurchase PriceIn-Place NOIExit YrExit CapEst. Exit Value

    Representative opportunities for illustration purposes only. Figures are illustrative and not a guarantee of future performance.

    Live pipeline · indicative only
    Acquisition Feed

    What's Currently in the Pipeline.

    A live view of the opportunities Brick River Capital is actively sourcing, screening and underwriting across its Texas target markets.

    Operating multifamily asset in Corpus Christi, TexasOperating · Acquired 2023
    In Portfolio

    Corpus Christi, TX

    A stabilized Class B workforce-housing asset acquired in 2023, currently operating and on plan toward an exit in approximately two years.

    Acquired2023
    Going-in Cap8.5%
    Est. Exit Cap7.0–7.5%
    Target MOIC1.7x
    Planned Exit~2028
    Active Pipeline

    Pipeline shown for illustration only. Items are not active offerings or solicitations; availability, pricing and terms are indicative and subject to change and due diligence.

    Multifamily asset, Kingsville TX
    Case Study — SG Apartments

    Case Study — SG Apartments

    Kingsville, Texas · University / Workforce Housing Market

    A representative case study in a university-driven workforce housing market with recurring demand, accessible rents, limited new supply and clear potential for gradual value-add execution without disrupting occupancy.

    • LocationKingsville, Texas
    • Market TypeUniversity / Workforce Housing
    • Demand DriverTAMUK ecosystem & public-sector workforce
    • Business PlanLight CapEx + operational improvement + rent alignment
    • ExitRefinance or sale
    Investment Structure

    Aligned Capital Structure.

    Brick River Capital is structured to align GP and LP interests through a preferred return, no acquisition fee and promote deferred until after LP preferred return and return of capital.

    7%
    Preferred Return
    10%
    GP Alignment · First-Loss
    0%
    Acquisition Fee
    Deferred
    Promote · Until LP Pref + Capital Return

    The objective is to protect investor alignment, reduce fee drag and prioritize capital preservation before promote economics.

    Governance & Reporting

    Governance Built for Investor Confidence.

    Governance exists to protect capital, align decisions and professionalize execution from day one.

    • LPAC approval for CapEx > $50,000
    • Quarterly financial reporting under US GAAP
    • Monthly dashboards
    • Third-party annual audits
    • Exit discipline between years 5–7
    Tax Efficiency & Cross-Border

    Designed for Cross-Border Flexibility.

    The structure is designed to support international investors through efficient reporting, flexible reinvestment options and clear entity separation.

    Canadian LP
    Investor-level entity
    Delaware LLC
    Holding / fund vehicle
    Texas LLC
    Asset-level ownership
    • Return of capital treatment where applicable
    • 1031 Exchange potential when applicable
    • Reinvestment flexibility

    Tax considerations vary by investor and jurisdiction. Investors should consult their own tax, legal and financial advisors. Nothing herein is tax advice.

    Investor Return Simulator

    Model Illustrative Return Scenarios.

    Illustrative economics based on preferred return, hold period and target exit multiple. Default scenario: $250,000 · 7% preferred return · 6-month stabilization · 5-year hold · 1.85x target MOIC · ~14.2% illustrative IRR.

    Fixed Target Assumptions
    Preferred Return7%
    Annual Distribution7%
    Stabilization6 months
    Hold Period5 years
    Target MOIC1.85x
    Illustrative only
    Target MOIC
    1.85x
    Approx. IRR
    14.2%
    Total Profit
    $212,500
    Total Proceeds
    $462,500

    This simulator is for illustrative purposes only and does not constitute an offer, guarantee or promise of returns. Actual results may vary based on acquisition price, financing terms, operating performance, market conditions, exit cap rates and other risks.

    Request Investor Deck Schedule Intro Call
    Brick River Capital Team

    A Boutique Team, Institutional Discipline.

    A boutique team focused on sourcing, underwriting, execution and operations with disciplined capital alignment.

    Investor Access

    We Are Building a Platform, Not Chasing a Single Deal.

    Brick River Capital seeks patient, aligned capital for disciplined exposure to Texas multifamily workforce housing. If you are looking for a clear thesis, institutional governance and a repeatable operating strategy, let's start the conversation.

    Minimum Investment
    $250,000
    Request Investor Deck Schedule Intro Call

    Your request is sent securely to The Riba Group (info@theribagroup.com).

    Chat on WhatsApp