About Overview Strategy
WHO IS CIP?
CULVER INVESTMENT PARTNERS (“CIP”) is a real estate asset management platform specializing in multifamily acquisitions, asset management and construction management of existing core-plus, value-add and distressed multifamily communities, across Texas and other select high-growth U.S cities
EXPERIENCED TEAM WITH DIVERSIFIED FOCUS AND DEEP RELATIONSHIPS
25+ years experience in real estate with 20+ years in the multifamily industry
Transaction and asset management experience with large institutions and private equity investors
Unique experience as a both a capital provider and operator
Extensive relationships with sellers, brokers, property managers, GCs and other stakeholders in multifamily business
NEWLY FORMED VERTICALLY INTEGRATED PLATFORM
Vertically integrated with in-house acquisitions, asset management and construction management
Founded in 2023 during the market reset with no-existing portfolio matters
Platform team has overseen $100m+ in CAPEX projects and over 5,000 multifamily units across the US
Texas based team with asset management vertical and underwriting capabilities that cover over 500+ deals a year
JEREMY BASLOE
Founder, Managing Partner
15+ years of multifamily experience across all facets of the business
Head of Multifamily for The Kor Group
Vice President, Acquisition at Equity Residential (S&P500: EQR)
$1B of transaction experience, $800m+ in MF transaction experience
Founder of Empire West/Texas, nationally recognized RE networking group
MBA IE Business School; BBA Real Estate Investment Baruch College, NYC
Based in Dallas, Texas
WHY CIP?
EXPERIENCED TEAM WITH DEEP RELATIONSHIPS AND DIVERSIFIED FOCUS
LONG-TERM DEEP RELATIONSHIPS WITH TOP INDUSTRY PROFESSIONALS
- Extensive network of investment brokers, property management, GCs, designers, etc.
- Closed deals with top brokerages including: Eastdil, JLL, CBRE, Berkadia, Newmark, etc.
- Property managers relationships include: RPM, Greystar, Lincoln, Myan, etc.
- Partnerships with institutional LPs: Ascendant Capital, Kingbird IM, True North, Drake, etc.
- Leverage relationships to execute on projects and to identify off / on-market opportunities
INSTITUTIONAL BACKGROUND AND TRACK RECORD
- Past deals approved by blue-chip Investment Committees, including the legendry Sam Zell
- Executive background as asset manager and investment manager at EQR and The Kor Group
UNIQUE EXPERIENCE AS BOTH A CAPITAL PROVIDER AND OPERATOR
- Success executing business plans and operating multifamily (GP perspective)
- Strategically protect the downside with creative deal structuring and providing capital (LP perspective)
EXTENSIVE EXPERIENCE FOCUSED ON MULTIFAMILY
- Construction management executives with $100m in CAPEX projects
- Asset management team with over $1B in asset management oversight
- Investment team with $1B experience acquiring and capitalizing deals
- Structured finance transactions including over $150m in distressed debt
EXPERIENCE WITH VARYING LEVELS OF RISK PROFILE AND LOCATIONS
- Institutional core-like asset built in 2020 ($150m+) to sub-institutional workforce housing value-add assets built in 1970s ($10m+)
- Light value add with $10k/unit in CAPEX to heavy-value add with $50k/unit
- Additional expertise with distressed opportunities and originating sub-debt
- Managed and owned properties across the US, with a focus in Texas
ASSET MANAGEMENT (“AM”) AS THE CORNERSTONE OF THE BUSINESS
- Acting as a trusted fiduciary of capital by implementing institutional strategies and oversight
- No conflict of interest between in-house asset management and property management
- Tailoring each asset’s needs with best-in-class asset managers, analytics and tech implementation
- Differentiated from competitors by providing AM services on owned assets and on a fee-basis
NEWLY FORMED FOCUSED PORTFOLIO
- Focus is on pursuing new assets (acquisitions / AM), not managing existing portfolio issues
- Only focus on select growth markets with attractive fundamentals – “experts in their domain”
NEWLY FORMED FOCUSED PORTFOLIO
- Focus is on pursuing new assets (acquisitions / AM), not managing existing portfolio issues
- Only focus on select growth markets with attractive fundamentals – “experts in their domain”
UNIQUE AND PROVEN ACQUISITION APPROACH
- Employ a top-down macro approach to identify potential target markets
- Apply rigorous bottoms-up analytics to filter opportunities in tandem with vendors and managers
- Set up weekly calls with broker-network for new opportunities
- Utilize a cold-calling system to prospect daily with sellers for new off-market opportunities
- Underwriting 10+ deals / week (500+ deals / year)
IN-HOUSE CAPABILITIES WITH OPTIMAL LOAD MANAGEMENT
- Staff team of 6 with diverse experience across all facets of the business
- Asset managers with institutional background overseeing on average 7 assets utilizing best-in-class data analytic systems and processes
- Construction and development managers with oversight of max. 15 assets
BOOTS ON THE GROUND
- Based in Dallas, TX a prime central US location and target market
- Within 3-hours of most target properties
NEWLY FORMED VERTICALLY INTEGRATED PLATFORM
INVESTMENT MANAGEMENT
CONSTRUCTION MANAGEMENT
ACQUISITIONS
ASSET MANAGEMENT
OUR TEAM
FOUNDED BY JEREMY BASLOE IN 2023, the team consists of experienced construction and investment professionals (bios to the right). In addition, CIP has strategic partnerships with:
JEREMY BASLOE
Founder, Managing Partner
Andy Golubitsky
Director of Development
Mathew Propst
Construction Project Management
Pavel Petrov
Associate
Eddie Schurr
Investment Officer
Gbenga Omosuyi
Investment Officer
