REAP CAPITAL

Track Record

The Landry

The Landry, a 288-unit multifamily property in Arlington, TX, built in 1983, represents a unique investment opportunity. Acquired under distressed circumstances from a lender-forced sale, it offers significant value-add potential. Our strategy includes interior renovations to unlock its revenue potential and addressing its high operational inefficiency (73% expense ratio) by bringing in our inhouse property management team. This approach aligns with our successful track record of revitalizing properties, as demonstrated by our Track Record.
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Target IRR:

21.64%

Target Equity Multiple:

2.45

The Chandler

Secured pre-market, The Chandler served as the replacement property for the sale of Sierra Heights. We plan to spend $7,400 per unit on interior renovations and $6,600 per unit on exterior renovations.
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Target IRR:

15.31

Target Equity Multiple:

1.90

Sutton on Park Lane

The Sutton on Park Lane is 196-unit multifamily property built in 1971. We plan to spend $12,912 per unit on exterior upgrades and $5,995 per unit on interior renovations.
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Target IRR:

15.8%

Target Equity Multiple:

1.87

Paxton at Lake Highlands

Paxton at Lake Highlands is a well-located, stabilized yet under-performing asset that was the perfect replacement property for our 1031 Exchange. We were successful in coordinating the sale of two assets to coincide with the acquisition of Paxton at a challenging time in the debt markets with interest rates rising at a pace not seen in almost 30 years.
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Target IRR:

15.8%

Target Equity Multiple:

1.88

The Mirabel

The Mirabel is an 86-unit property in Grand Prairie, TX purchased at the peak of the market in February of 2022 before the Federal Reserve began raising rates 5% over the next year. Given the volatility and unknown of the debt market ahead, we determined it prudent to hedge our risk and execute on a sale prior to our rate cap expiring. Due to a successful capex execution, we were able to increase our in-place rents by $286 and create enough value to generate a 1.06x equity multiple in a market where many were losing it all.
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Target IRR:

18.93%

Target Equity Multiple:

2.06

Sierra Heights

Sierra Heights is a 136-unit property in Irving, Tx purchased in May 2021. The property contained 76 classic units at acquisition, and occupancy was 86%. We increased our income over 58% and closed on the sale of Sierra Heights in July of 2023 after 25 months of ownership resulting in a 37.24% net IRR to investors. The success of generating investors these outsized returns in the worst seller’s market of our firm’s history is our greatest achievement.
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Target IRR:

20.2%

Net IRR:

37.24

Equity Multiple:

1.86

Hold Period:

25MO

Liberty Park

Liberty Park is a 67-unit property in Dallas, TX, purchased in May of 2020 direct from the Seller as a stabilized high yield investment. Although South Dallas is a submarket we typically avoid, the high in place yield, low basis ($70k per unit), and location in an Opportunity Zone made this a great investment. This asset produced a 10%+ cash return for investors in 2020 despite COVID. This property is the first asset that we have managed with in-house property management, and we maintained a 95%+ occupancy rate and increased our market rents by 15%. Recognizing opportunity in the Dallas market, we placed this property for sale in November 2021 and closed escrow April of 2022.
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Target IRR:

22%

Net IRR:

49%

Equity Multiple:

2.05

Hold Period:

23MO

Hwy 380 Self Storage

This mismanaged asset was at 16% occupancy at acquisition. Before takeover, this facility had no digital footprint and marketing was limited to signage. By employing an aggressive online marketing campaign and completing strategic facility improvements and automation, we took our monthly revenue from $4k to $20,000 in just over two years.
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Target IRR:

22%

Net IRR:

61.49%

Equity Multiple:

2.9

Hold Period:

27MO

The Palm On Ray

At acquisition, rents at The Palm were an average of $250 below market. We planned to spend $175k renovating all 16 units to achieve $16,000 in monthly rents. We exceeded our projected monthly gross rents in just over 12 months by renovating only half of the units and sold after 19 months for 65% return to investors.
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Target IRR:

30%

Net IRR:

43.58%

Equity Multiple:

1.64

Hold Period:

19MO

The Beach @ Bayshore

The Beach at Bayshore is a 6-unit property in a Class A+ area of Tampa, Florida purchased in August of 2018 and was Reap Capital’s first multifamily acquisition. Structured as a Joint Venture versus a true syndication, this purchase led to the development of the Reap Method and Value-Add business model. Upon acquisition, we spent approximately $30k renovating the two remaining classic units. Approximately 30% of investor capital was returned at the end of year 2, and at the time of sale, annual income was 27% higher than initial projections.
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Target IRR:

16%

Net IRR:

10.51%

Equity Multiple:

1.5

Hold Period:

55mo

TRACK RECORD

Reap Capital has returned an average 34.25% IRR to investors since inception.
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How To Get Started

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