Casoro Capital merges with The PPA Group
The PPA Group, a multifamily-focused commercial real estate firm, has merged with Casoro Capital, a family office and real estate investment firm that partners with other family offices, high net worth individuals, and institutional investors through real estate investment funds, separately managed accounts, and direct transactions. The new company, named Casoro Group, will combine the expertise of both companies to bring a stronger investment presence to the multifamily real estate market, which is in the midst of a boom thanks to increasing demand for rental housing.
Pent-up demand for apartments is high, and when you look at the changing population in America, you can see why investing in multifamily is an attractive choice for those who want solid returns no matter what the stock market or housing market might be doing,” said Monte Lee-Wen, founder and president of The PPA Group.
According to a recent study by the National Multifamily Housing Council and the National Apartment Association, nearly 39 million people live in apartments with an average of one million new renter households formed every year. Delayed house purchases, an aging population, and international immigration – which accounts for 51 percent of all new population growth in the United States – are the biggest drivers for increased demand, according to the study.
As a vertically-integrated real estate investment firm with subsidiaries specializing in property management, construction, utility billing and management, as well as a multifamily REIT, Casoro’s investors are poised to benefit from all aspects of the increased demand for apartment complexes, student housing, and senior living facilities. Casoro seeks out multifamily assets with value-add opportunities that allow for increased rent and appreciation over the life of the investment. Casoro is actively expanding its current portfolio of properties in the DFW, San Antonio, Austin, and Houston markets.
To date, Casoro Group has conducted more than $1 billion in real estate transactions and provides investment opportunities through discretionary investment funds, joint-venture partnerships, 1031 exchanges and self-directed retirement accounts, as well as through its REIT, Upside Avenue, which allows all investors to benefit from the private real estate market for as little as $2,000.