Apartment Alchemists: 10 Best Multifamily Syndicators & Fund Managers

If you’re looking to invest in multifamily real estate, choosing the right syndicator or fund manager is one of the most important steps in building a successful and sustainable investment portfolio. Whether you're eyeing stabilized apartment communities, value-add repositioning strategies, or hands-off passive deals, the firm you partner with can dramatically affect your results.

Below, we at RockStep Capital have highlighted 10 of the most reputable and active multifamily real estate firms in the U.S. These companies offer diverse strategies, ranging from hands-on operational expertise to highly passive investor experiences, and have earned strong reputations for performance, transparency, and investor education. This list is presented in no specific order.

1. Ashcroft Capital 

Co-Founder: Joe Fairless - Host of The Best Ever CRE Podcast 

Ashcroft Capital is one of the most recognized names in multifamily syndication. Co-founded by Joe Fairless, who also hosts the popular "Best Ever CRE" podcast, Ashcroft focuses on value-add multifamily investments in growth markets across Texas, Florida, and Georgia. The firm is known for its investor-first communication, in-depth educational content, and consistent performance. Ashcroft is ideal for newer investors who want to partner with a firm that offers a clear, transparent, and scalable investment approach.

2. Trion Properties 

Co-Founder: Max Sharkansky 

Trion Properties specializes in distressed and value-add multifamily assets on the West Coast and in the Southeastern United States. Led by Max Sharkansky, the company targets properties with operational inefficiencies and untapped value potential. Trion has a strong track record of repositioning outdated buildings into high-demand rental communities. If you’re looking for a firm with expertise in transforming underperforming assets, Trion is an excellent choice.

3. BAM Capital 

Founder: Ivan Barratt

Based in Indianapolis, BAM Capital focuses on Class A and B multifamily assets in stable Midwestern markets. Ivan Barratt and his team emphasize conservative underwriting, institutional-quality reporting, and vertically integrated management. Their fund offerings are tailored for passive investors, making BAM a strong choice for those seeking to invest in multifamily real estate with minimal day-to-day involvement.

4. Praxis Capital 

CEO: Brian Burke - Author of The Hands-Off Investor 

Praxis Capital is one of the most beginner-friendly multifamily firms available, thanks in part to CEO Brian Burke’s bestselling book The Hands-Off Investor. The company targets value-add apartment assets across the Southeast and West Coast. Known for transparency with investors and educational outreach, Praxis Capital is an excellent choice for passive investors who want to grasp the mechanics behind their investment without being burdened by the operational aspects.

5. Lone Star Capital 

Founder: Rob Beardsley 

Lone Star Capital, founded by Rob Beardsley, is a data-driven multifamily investment firm based in Texas. The company targets high-growth markets such as Houston and Dallas, focusing on workforce housing and value-add opportunities. Rob, also the author of "The Definitive Guide to Underwriting Multifamily Acquisitions," brings a high level of analytical rigor to the firm’s underwriting and investor communication. This firm is well-suited for investors seeking a strategic, metrics-driven approach to multifamily investing.

6. Viking Capital 

Founders: Vikram Raya and Ravi Gupta

With a strong focus on physicians and healthcare professionals as passive investors, Viking Capital has carved out a unique niche in multifamily real estate. The firm is recognized for its investor education, community-building efforts, and emphasis on Class B and C properties in appreciating markets. Co-founders Vikram Raya and Ravi Gupta contribute diverse experience in medicine, finance, and entrepreneurship to the company’s leadership, making Viking a top choice for professionals seeking passive income streams.

7. MLG Capital 

Headquartered in Wisconsin, MLG Capital offers a broad-based fund model that provides access to multifamily (and other commercial assets) within diversified portfolios. With an emphasis on long-term wealth building and tax-advantaged investing, MLG’s model appeals to those looking to “set it and forget it” while still benefiting from multifamily’s income and appreciation potential.

8. GSH Real Estate 

CEO: Gideon Pfeffer

Real Estate specializes in distressed and undervalued multifamily properties, with a focus on the Midwest and Southeast. CEO Gideon Pfeffer leads the firm with a hands-on approach, often targeting properties that require substantial renovation or repositioning. GSH is a strong option for investors seeking higher returns and active asset management partners who understand the complexities of transforming large multifamily property communities.

9. 37th Parallel Properties 

37th Parallel Properties is a vertically integrated firm focused exclusively on multifamily investments. They target stable, cash-flowing assets in high-growth markets and emphasize long-term partnerships with passive investors. Their investment strategy combines data-driven acquisition with conservative financing—an appealing option for those seeking steady, low-key returns over time.

10. Rise48 Equity 

CEO: Zach Haptonstall

Phoenix-based Rise48 Equity, led by Zach Haptonstall, has made headlines in recent years for rapidly scaling its portfolio of multifamily assets in Arizona and Texas. The company prioritizes speed and efficiency in acquisitions and renovations, aiming to enhance property value through targeted capital improvements and operational optimization. Rise48 is a strong match for investors seeking exposure to high-growth Sunbelt markets and who are not afraid of a bit of fast-paced action.

Getting Started With The Right Investing Partner

For new investors, multifamily real estate can seem complex; however, collaborating with experienced syndicators simplifies the process and opens the door to passive income, tax benefits, and long-term growth. The firms on this list offer a range of strategies, from conservative cash-flow plays to high-growth, value-add opportunities. Whether you’re looking for a fully passive investment model or a more active partner in a specific region, these companies provide well-structured, beginner-friendly options worth considering.

At RockStep Capital, we specialize in retail real estate; however, we believe that understanding how other asset classes, such as multifamily, operate can help sharpen your overall investment strategy. If you’re exploring your investment options, visit our Learning Center for educational content specifically designed for new commercial real estate investors.

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• Essential terminology breakdowns for beginner real estate investors 
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And don’t forget to download our free guide, “The One-Stop Guide to Retail Property Investing,” packed with practical advice, clear explanations, and actionable steps to help you confidently build your real estate portfolio.