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Pine lake village Apartments

​Key Partner on Camino Del Sol Apartments

Deal Summary:​ This is a property that fits well in TPCG's portfolio. The play for this property is similar. The sub-market is a very dense and a solid Class C market and it was 100% 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: Brian M.

Pre-Rehab Occupancy: 100%

Post Rehab Rent Increase Expected: ~20%

NOI Increase Expected: 45%-60% (based on conservative underwriting)

Expense Ratio Expected: Avg. 40-45% over hold period

Key Partners: Select after extensive interviews.

Deal Summary:​ This is a property that fits well in TPCG's portfolio. The play for this property is similar. The sub-market is a very dense and a solid Class C market and it was 100% 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: Brian M.

Pre-Rehab Occupancy: 95%

Post Rehab Rent Increase Expected: ~10-15%

NOI Increase Expected: 45%-60% (based on conservative underwriting)

Expense Ratio Expected: Avg. 45% over hold period

Key Partners: TPCG selected no key partners for this project. KPs are only selected based on relationships. 

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Sycamore gardens Apartments

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Deal Summary: This acquisition is a great success for all involved. It needed a ton of work. Rehab started soon as TPCG took over. The rehab was under budget and completed 2 weeks ahead of schedule. The property is located in a very dense Class C market. Competing properties are also very inefficiently managed, making them a perfect acquisition target. TPCG created a new leasing process that results in more engagement with prospective tenants, which ultimately resulted in a quick turnaround with 90% boost in rents with 100% occupancy.

Management Team: Three Pillars Capital Group

Rehab Manager: Fernando Zamarripa

Post Rehab Occupancy: 100%

Post Rehab Rent Increase: From $495 to $950 (92%+)

NOI Increase: By 2.5X (new NOI is 2.5 times pre-rehab NOI)

Expense Ratio: 27% (down from 58% pre-acquisition)

Key Partners: No KPs were selected

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.

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.

Deal Summary:​ This is a property that fits well in TPCG's portfolio. The play for this property is similar. The sub-market is a very dense and a solid Class C market and it was 100% 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: Brian M.

Pre-Rehab Occupancy: 100%

Post Rehab Rent Increase Expected: ~20%

NOI Increase Expected: 45%-60% (based on conservative underwriting)

Expense Ratio Expected: Avg. 40-45% over hold period

Key Partners: Select after extensive interviews.

General Partner

Started as a Key Partner on 40-unit La Sonrisa

Became a General Partner on 96-unit Pine Lake Village

Joshua D. Welch
Co-Founder
Linkedin

​Key Partner on La Sonrisa Apartments

Casa Roble Apartments

la sonrisa Apartments

case studies: KPs who progress to general partners or partnered up with other kps to do their own deal

General Partner

Started as a Key Partner on 56-unit Sycamore Garden

Became a General Partner on 96-unit Pine Lake Village

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. 

Meet Josh

We've built a multifamily portfolio valued at ~$70M.

I purchased my first rental property in Florida in 2010. I switched to multi-family shortly thereafter once I realized 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, interior and exterior renovations and various other inefficiencies. 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 our other website Three Pillars Capital Group.

​Key Partner on Rio Sereno Apartments

For private conversation about getting selected as a key partner, fill out this form- Key Partner Form.


Green Tree place Apartments

Camino Del sol Apartments

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Key Partners under consideration right now

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Allendale Village Apartments

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Rio Roble Apartments

A Great success with huge rent INcreases and margins SOLD for almost 2X purchase price

Rio Sereno Apartments

Deal Summary:​ This is a property that competes with TPCG's previous acquisition. They have a full understanding of the sub-market and their previous property leads the market in rents being charged. The play for this property is similar. The sub-market is a very dense and solid Class C market. The leasing strategies used in Casa Roble 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: Fernando Zamarripa

Pre-Rehab Occupancy: 100% (gives a cash flow cushion going in with ability to give investor distributions)

Post Rehab Rent Increase Expected: ~30%

NOI Increase Expected: 45%-60% (based on conservative underwriting)

Expense Ratio Expected: Avg. 40% over hold period

Key Partners: TPCG selects Key Partners after extensive interviews.

Deal Summary:​ This is a property that competes with TPCG's previous acquisition. They have a full understanding of the sub-market and their previous property leads the market in rents being charged. The play for this property is similar. The sub-market is a very dense and solid Class C market. The leasing strategies used in Casa Roble 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: Brian M.

Pre-Rehab Occupancy: 100%

Post Rehab Rent Increase Expected: ~20%

NOI Increase Expected: 45%-60% (based on conservative underwriting)

Expense Ratio Expected: Avg. 40% over hold period

Key Partners: Select after extensive interviews.

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.

General Partner

Started as a Key Partner on 56-unit Sycamore Garden

Became a General Partner on 122-unit Camino Del Sol

completed acquisitions and deals below

​Key Partner on Sycamore Gardens Apartments

See what some of our great key partners have to say:

Opportunity to be considered as a key partner- Wed, Nov 13th at 9pm EST/8pm Cst/6pm PST- Join Here

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