The Firm

Four Mile Capital (FMC) is a privately-owned real estate investment firm based in Denver, CO that focuses exclusively on the acquisition and sponsorship of exceptional multifamily opportunities, targeting class A, B and C multifamily housing assets in secondary and tertiary markets in the Rocky Mountain, Midwest and Southeast regions.

Driven to preserve capital, produce consistent yields, and generate competitive risk-adjusted returns for our equity partners, we purchase patiently, execute swiftly, and actively manage risk with a high-touch approach to asset management. We are not interested in recycling capital every few years, but instead are focused on building a diverse portfolio of multifamily assets that can be held over the long-term, generating much more tax- and fee-efficient income streams, along with greater creation of nominal wealth.

We invest alongside our partners on every deal, raising capital on a deal by deal basis from our network of private accredited investors, family offices and like-minded private equity firms. We prefer this to a fund structure as it does not force us to place capital or exit an investment when market conditions are less than ideal. It also gives our investors the flexibility to choose which deals they want to invest in and which they don’t.

Our systems and processes have been refined over 75 years of combined real estate experience, drawing on our team’s background in operations, law, and investment management. We believe in innovation, embrace complexity, and offer full transparency to our partners in our quest to become one of the best real estate investment managers in the industry.

Please hover below for more about what drives us and informs our strategy.

DeVry

FMC believes that the demand drivers for multifamily apartments are as strong as ever with home prices continuing to rise, homeownership deferred to later in life, supply shrinking as older properties become obsolete, and the cost to build continuing to increase.

By reinvesting in and repositioning class B and C assets, we can capture steady workforce housing demand while providing quality, affordable, and safe housing for our residents. By purchasing newer class A assets in secondary markets below replacement cost, we can build a portfolio of stable, cash-flowing deals with very limited capital investment or deferred maintenance that will be ready for a value-add execution by the next owner.

DeVry
FMC is focused on building a geographically- and class-diverse portfolio of multifamily housing that are purchased at an exceptional basis, with strong early-stage cash flow and financed with long-term, fixed-rate debt. In so doing, we ensure that we can hold these assets through any near-term recession and into the next cycle. Not only does this strategy optimize total nominal returns, it also creates more tax- and fee-efficient passive income streams for our investors.
DeVry
FMC engages in tax-efficient strategies that are only made available through long term holds, including completing cost segregation studies to maximize depreciation, thereby minimizing taxable ordinary income while still distributing strong cash on cash returns, and returning equity through financing transactions as opposed to taxable events.
DeVry
While IRR is a common metric in our industry, the truth is our investors can’t spend their IRR. By holding longer-term, FMC is able to focus on increasing total cash returns, which we believe is the basis for creating true nominal wealth for our investment partners. Over the hold period, we target multiplying the initial investment by 2-4x (the equity multiple) when combining cash distributions and sale profits.

“We love what we do and our successes are all the more rewarding when collaborating with those who share our vision and values.”

What We Value

Precision

From initial review to underwriting to asset management and exit, we are meticulous in our approach. Every detail matters, period.

Transparency

You won’t find a more transparent or engaged sponsor in the industry. From fundraising through closing, then throughout the investment period, our investors and other stakeholders can expect timely and thoughtful communications that keep them ‘in the know’ during all aspects of our relationship.

Collaboration

Successful investments are born out of collaboration, within and between FMC, our property management team, equity investors, lender, and other stakeholders. Open and accessible communication results in challenging ideas and questioning norms, and allows us arrive at the best possible solution in any given situation.

Community

At its core, all real estate is local. Through our investments, we create and support property-level initiatives that strengthen local communities, empower our tenants, and add value to the greater good.

If you are an accredited investor and would like to learn more about our current investment opportunities, please sign up here.

Meet the Team