LV5 Capital adds 729 Sunbelt units to multifamily portfolio

LV5 Capital has expanded beyond the Midwest with co-investments in Texas and Oklahoma communities totaling 729 units. The move extends the Lima, Ohio firm’s value-add and build-to-rent strategy into Sunbelt markets tied to cash flow and long-term holds.

Why it matters: - LV5 Capital is widening its multifamily footprint beyond the Midwest and into Sunbelt markets. - The 729-unit expansion adds exposure to Texas and Oklahoma, where the firm is targeting workforce housing and build-to-rent demand. - The move reinforces LV5 Capital’s strategy of buying, renovating and holding assets for cash flow instead of quick resale.

What happened: - LV5 Capital co-invested in three communities across Texas and Oklahoma. - The additions include two Texas properties and one Oklahoma property. - The three assets total 729 residential units. - The firm is based in Lima, Ohio.

The details: - TR3 Villas Del Sol is a 294-unit Class B value-add apartment community in Austin built in 1982 and sponsored by TR3 Capital. - Trulo Homes Cottonwood Creek is a 206-unit ground-up build-to-rent community in south Waco at I-35 and Bagby Avenue. - Red River Development developed Cottonwood Creek as single-family-style duplex rentals with private yards and attached garages. - Country Club View Apartments is a 229-unit multifamily community at 4635 W Gore Blvd in Lawton, Oklahoma. - Lawton’s rental market is anchored by Fort Sill military installation. - Country Club View Apartments is 96% occupied. - LV5 Capital said the Texas and Oklahoma properties fit the same underwriting approach it has used in Ohio, Indiana and Michigan. - The approach focuses on acquiring workforce housing in secondary markets, improving operations and renovations, and holding for cash flow. - Build-to-rent communities like Cottonwood Creek serve renters priced out of for-sale housing who still want yard space. - Class B value-add assets like Villas Del Sol serve renters seeking updated units at below-new-construction rents. - Jeff Dulmage said LV5 Capital invests its own capital beside investors and underwrites Texas and Oklahoma the same way it underwrites Ohio, based on numbers rather than headlines.

Between the lines: - The expansion suggests LV5 Capital sees durable demand in secondary Sunbelt markets rather than only in its Midwest core. - The mix of Class B apartments and build-to-rent housing shows the firm is broadening within the same workforce-housing thesis. - The company’s emphasis on prior rent growth and occupancy signals a data-driven underwriting style. - LV5 Capital points to realized gains in Ohio as proof of concept for the new investments.

What's next: - LV5 Capital plans to continue applying its workforce-housing strategy across Midwest and Sunbelt markets. - The firm says details on each property, including locations, unit counts and business plans, are available on its portfolio of multifamily and commercial real estate investments. - General inquiries can be directed to info@lv5capital.com or (419) 302-3940. - LV5 Capital will keep managing more than 812 units and over $100 million in assets under management as it grows.

The bottom line: - LV5 Capital is taking a Midwest-tested real estate playbook into Texas and Oklahoma, betting that workforce housing and build-to-rent demand can support long-term cash flow.