29th Street Capital (29SC) is a privately held real estate investment and advisory firm founded in 2009 in response to the dislocation in the U.S. real estate and credit markets. 29SC’s strategy is to acquire non-institutional real estate in markets where the Principals have experience and a proven track record. To date, 29SC has acquired over $3B of total assets with local acquisition managers in over 23 markets across the U.S. Our “boots on the ground” presence in each target market gives our team the benefit of sourcing off-market transactions where we can execute on our value-add investment strategy. Our firm brings over 250 years of institutional and capital market experience to every relationship. As a vertically integrated company, we are able to take a hands-on approach to every aspect of the investment. We continue to focus on value-add multifamily, student housing and senior living which are typically between $10-50MM in total capital, just below the institutional radar.
External link for 29th Street Capital
20 N Wacker Dr
Suite 2050
Chicago, Illinois 60606, US
29th Street Capital reposted this
29th Street Living is hiring for several positions in the Sacramento market. Join our incredible team and work for the Property Management Company of the Year! 🔗 View all job postings here 👉 https://lnkd.in/gZCRcv4u #sacramentojobs, #propertymanagementjobs, #multifamilyjobs Cheryl Davis, 29th Street Capital
Sharp insights from the road this spring. Investor conversations are evolving fast, and the questions are getting a whole lot better!
We did a spring roadshow in March and April: 30+ meetings across multiple cities with HNW investors, family offices, and institutional allocators. Five themes came up repeatedly in nearly every conversation. Interestingly, almost none were macro-driven. The full breakdown is in the document below. Likely useful for LPs evaluating sponsors right now — or sponsors preparing to be evaluated. What stood out to me most was how much the conversations have evolved. The questions are sharper, diligence is moving faster, and investors have far less patience for vague or generalized answers. The allocators we met with this spring were paying attention to a very different set of signals than they were even a year ago. 29th Street Capital, 29th Street Living
Real-time visibility is no longer a nice-to-have, it’s an operational advantage. Better data leads to faster decisions, stronger execution, and ultimately better outcomes for investors.
Five years ago, monthly portfolio reporting was enough. It is not anymore. Our team built a custom business intelligence platform on top of UDP that pulls real-time data from across the portfolio and gives us a daily view into property performance — not a backward-looking snapshot, but a current one. In practice, that changes a lot. We catch leasing trends in days, not weeks. We see rent collection patterns at the property level the morning after they happen. We can react to softening conditions before quarterly reporting tells us there is a problem. We provide the same visibility to our investors through Juniper Square. Not because investors demanded it, but because monthly PDFs that are already weeks old by the time they arrive no longer reflect how institutional-quality real estate operations should function. One thing that stood out in nearly every investor meeting this spring: the AI conversation has evolved. Investors no longer want to hear about adoption for the sake of adoption. They want to understand how technology is improving decisions and producing measurable operational results. For us, that means tools like @tour24 in the leasing process, EliseAI managing the long tail of inquiries, and UDP tying operational activity back to financial performance. The firms that operate with real-time visibility will make better decisions over the next decade. That operational edge will matter more than ever. 29th Street Capital 29th Street Living, UDP
One of the best parts of this industry is watching great leaders help others grow along the way. This recognition is so well deserved, and we’re incredibly proud to celebrate this achievement, Chyanne Brooks! Columbus Apartment Association
Still trying to find the words for this one. Being recognized by the Columbus Apartment Association as Regional of the Year is something I’m incredibly grateful for and honestly still processing. This award may have my name on it, but it reflects the people I’ve had the privilege to work alongside every day. I would not be where I am without the support, guidance, patience, and encouragement from so many people throughout my career, including those who helped shape and grow me long before this role. My team and this position mean so much to me. Watching people grow, gain confidence, develop their skills, and succeed is one of the most rewarding parts of what I do. Building strong teams and creating an environment where people feel supported and empowered will always be important to me. Thank you to everyone who has believed in me, challenged me, supported me, and trusted me along the way. I’m beyond grateful and excited for what’s ahead. #29thstreetliving #regionaloftheyear #CAA #leadership
Not every win in this market comes with a closing announcement. Sometimes the discipline to walk away is what protects long-term performance, and that matters just as much.
We did not close a deal in March or April. That is not the kind of update most sponsors put on LinkedIn, but it is the reality of this part of the cycle. Pricing has been difficult to reconcile. Sellers still anchor to yesterday’s basis. Buyers are underwriting to today’s realities. On the deals we have evaluated, that gap has not narrowed enough to clear our underwriting. We have walked away from more deals in the past sixty days than in any similar stretch I can remember. In a slower market, the temptation is to stretch — to push a comp, assume future rent growth, or convince yourself the next deal will make up for the last one. The math rarely forgives that. The deals you buy in a flat market are often the ones you live with for the next five years. For private capital evaluating sponsors right now, one of the most important signals is not the deal flow they are announcing. It is the deal flow they are willing to walk away from. Patience is one of the few durable advantages left in this market. We are comfortable waiting for the right opportunity. 29th Street Capital, 29th Street Living
29th Street Capital reposted this
Our team spent much of March and April visiting investors. A few things stood out: Investors want asset-level detail, not market views. In nearly every meeting, the question was not "what is your macro view." It was "how does this specific deal perform on day one and through the hold." Top-down narratives are no longer sufficient. It is about the deal. The local demand picture is bifurcating. Texas markets we used to think of as one block are now showing real differences. San Antonio school enrollment is down materially this year—the kind of second-order signal that does not show up in a quarterly market report. In Atlanta, tenant screening conversations turned to employment fraud as a real and growing issue. Capital is there, but conviction is the bottleneck. A substantial number of equity groups have not been transacting. They have capital, but lack conviction around forward pricing. The issue was not capital availability—it was how the deal was structured and where incentives sat. After-tax outcomes kept coming up. Particularly for family office capital, accelerated depreciation under the One Big Beautiful Bill and cost segregation are now part of most return conversations. Tax efficiency is not the primary driver, but it has moved from a footnote to a front-page consideration. Programmatic relationships are winning over single transactions. Multiple groups asked about repeat opportunities rather than evaluating one deal at a time. Communication, particularly in downside scenarios, came up as a deciding factor for repeat capital. These were the consistent themes from our spring meetings. I was surprised there was not a single top-down theme among them. If you are an investor, what is driving conviction in your underwriting right now? 29th Street Capital, 29th Street Living
Welcome, Jessica! Great to have you on our Houston team!
We’re excited to welcome Jessica Arora to 29th Street Living as a Regional Manager overseeing our Houston portfolio. Jessica brings more than 21 years of multifamily experience and a strong track record in operations, team leadership, and portfolio performance. Welcome to the team, Jessica! #Multifamily #PropertyManagement #Leadership #29thStreetLiving
We’re excited to welcome Aditi Sharma to the 29th Street Capital team. Aditi joins our Asset Management team, where she supports portfolio performance through financial analysis, modeling, and KPI tracking. Prior to 29th Street, she held roles at Newmark and Acuity Analytics. Welcome to the team, Aditi! #29thStreetCapital #AssetManagement #Multifamily #RealEstateCareers #TeamGrowth Drew Rimel
Well said! We stay focused on asset-level fundamentals, where performance is actually created.
We get asked all the time what our macro view is. Much of the time, we do not have one. Macro conditions are important and inform our perspective, but we don’t depend on them to make a deal work—our underwriting stands on property-level fundamentals. Our focus is on what we call "below the zip code." Specific neighborhoods. Specific submarkets. Demand drivers at the asset level, not the metro level. We spend more time underwriting the bus stop two blocks from a property than we do the latest CPI print. Across the spring, we kept hearing the same thing from the investors we met with: less interest in our top-down view, more interest in how a specific deal performs on day one and through the hold. Living through the past few cycles made us realize that the operators who underwrite below the zip code tend to be the ones still standing when the macro turns out differently than consensus expects. Which it almost always does. For long-hold private capital with a five-to-seven-year horizon, asset-level execution compounds more than any market call. Basis at entry, financing structure, day-to-day operations. Those three are what separate the deals that exit cleanly from the ones that do not. We are focusing on the operational, detail oriented work at the asset level. 29th Street Capital, 29th Street Living
Proud to support this and looking forward to being part of the conversation at Uncorrelated Alts Beverly Hills. Thanks to Bill Brennan and the team for leading the way here.
Proud to share that 29th Street Capital has joined Uncorrelated Beverly Hills 2026 as a Gold Sponsor! Many thanks to Bill Brennan and the entire 29th Street Capital team for believing in our mission to build a more accessible and connected alternative investment community. Together, we are making an impact! May 3-5, 2026 at Fairmont Century Plaza, Los Angeles Follow our Company Page here: Uncorrelated Alts To register for Uncorrelated Beverly Hills, please visit: https://lnkd.in/etPKFGBw Anthony D. Mascia, Joseph Levato, Geoff Marcus, Peter Murrugarra, CAIA, MSIM, Nathan Whigham, Ryan O'Connell EFSI | Inti Advisors #alternativeinvestments #uncorrelatedalts #thereisnocorrelation #community #access #duediligence #bestpractices #wealthmanagement #newentrants #familyoffice #RIA