{"id":35125,"date":"2025-11-06T00:47:08","date_gmt":"2025-11-06T00:47:08","guid":{"rendered":"https:\/\/www.newsbeep.com\/us-fl\/35125\/"},"modified":"2025-11-06T00:47:08","modified_gmt":"2025-11-06T00:47:08","slug":"truamericas-matt-ferrari-launches-new-firm-plans-2b-buying-spree-of-mismanaged-apartments","status":"publish","type":"post","link":"https:\/\/www.newsbeep.com\/us-fl\/35125\/","title":{"rendered":"TruAmerica’s Matt Ferrari Launches New Firm, Plans $2B Buying Spree Of ‘Mismanaged’ Apartments"},"content":{"rendered":"

Scaling Mount Everest and\u00a0founding his own company are two challenges\u00a0Matt Ferrari<\/a> chose to\u00a0tackle\u00a0in the same year.<\/p>\n

\"Placeholder\"\/<\/p>\n

\n Courtesy of PXV Multifamily\n <\/p>\n

\n Matt Ferrari is launching his own firm after nine years with TruAmerica Multifamily.\n <\/p>\n

After nine years with\u00a0TruAmerica Multifamily<\/a>, Ferrari has left his\u00a0role as co-chief investment officer\u00a0and head of East and Central region asset management to launch PXV Multifamily\u00a0\u2014 a new\u00a0private multifamily investment and operating firm based in\u00a0Miami.<\/p>\n

Ferrari founded PXV with backing\u00a0from Houston-based BroadVail Capital Partners, marking the real estate private equity firm\u2019s first entrance into traditional multifamily.\u00a0BroadVail\u00a0has specialized in industrial, self-storage and affordable housing to this point and executed about $4B in deal flow.<\/p>\n

In the release announcing his new firm, Ferrari said he aims to buy\u00a0buildings across the country that were acquired in the feverish market of 2021 and 2022 and\u00a0are now \u201cmismanaged.\u201d<\/p>\n

\u201cThere’s upside-down capital stacks,\u201d\u00a0Ferrari told Bisnow in an interview Wednesday.\u00a0\u201cThere’s operators who don’t know how to operate properly because they entered the space when capital was plentiful.\u201d<\/p>\n

He plans to acquire $2B of properties over the next three years, focusing on\u00a0individual assets and portfolios made up of 1980s vintage apartment buildings and newer assets with 150 units or more.<\/p>\n

\u201cThere’s a lot of developers who built deals that are not worth what it cost them to build them today, and they’re going to\u00a0have to figure out something to do,\u201d he said.<\/p>\n

\u201cThey may have to end up selling for less than they paid, or what they paid, or below today’s replacement cost,\u201d he added. \u201cI think that’s an exciting time to be an apartment buyer.\u201d<\/p>\n

Ferrari, who also worked at AvalonBay Communities and Archstone, left his job at Los Angeles-based TruAmerica, which owns roughly 40,000 apartments, on Friday.<\/p>\n

He plans to hire\u00a0PXV’s first handful of employees in the coming weeks and is finalizing the company\u2019s office space in Brickell, although he declined to give specifics.<\/p>\n

He also declined to name geographies he would target for acquisitions, saying only that PXV\u00a0will look for opportunities in both\u00a0suburban and urban infill areas and\u00a0\u201ceventually build up national coverage.\u201d<\/p>\n

\u201cCertainly, the fact that we’re based in Miami should give us an opportunity to scour the South Florida market quite well, because we’re physically there,\u201d he said. \u201cBut it’s going to come down to the specific opportunity and deal itself.\u201d<\/p>\n

\"Placeholder\"\/<\/p>\n

\n Courtesy of Matt Ferrari\n <\/p>\n

\n Matt Ferrari climbing Mount Everest in May 2025.\n <\/p>\n

Ferrari said PXV\u00a0has \u201cseveral hundred million dollars to deploy\u201d and has the option of leveraging joint ventures or using LP equity\u00a0to boost the equity it\u00a0can put into acquisitions.<\/p>\n

\u201cWe should be able to scale that several hundred million dollars into a $2B portfolio given the capital that we have at our fingertips, which is really exciting,\u201d he said.<\/p>\n

Rents have softened<\/a>\u00a0across the multifamily sector amid macroeconomic uncertainty, a slowdown in leasing and a record wave of new construction.\u00a0Even Miami, one of the nation’s most expensive markets,\u00a0has felt the pressure<\/a>.<\/p>\n

But Ferrari isn’t afraid to take risks, especially after climbing Mount Everest this May.<\/p>\n

And\u00a0falling interest rates and a rise in private credit have fueled a comeback in the transaction market. Sale volumes in the multifamily sector are\u00a0up 13% year-over-year, while distressed property sales\u00a0were\u00a0up 20%<\/a>\u00a0in the third quarter.<\/p>\n

Nearly $770B in multifamily loans will mature between this year and 2027, according to a\u00a0second-quarter Newmark U.S. Multifamily Capital Markets Report<\/a>\u00a0\u2014 suggesting some distressed opportunities may come about.<\/p>\n

Ferrari\u00a0isn’t banking on\u00a0that.<\/p>\n

\u201cEveryone’s been talking about distress for three years, and it’s really been some stress, but not a lot of distress,\u201d Ferrari said. \u201cOf course, we would love to take advantage of distress opportunities like everyone else is telling everyone. We’ll see if that ever comes to fruition.\u201d<\/p>\n","protected":false},"excerpt":{"rendered":"Scaling Mount Everest and\u00a0founding his own company are two challenges\u00a0Matt Ferrari chose to\u00a0tackle\u00a0in the same year. Courtesy of…\n","protected":false},"author":2,"featured_media":35126,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[9],"tags":[24455,22132,123,125,124,24454,22129],"class_list":{"0":"post-35125","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-miami","8":"tag-broadvail-capital-partners","9":"tag-matt-ferrari","10":"tag-miami","11":"tag-miami-headlines","12":"tag-miami-news","13":"tag-pxv-multifamily","14":"tag-truamerica-multifamily"},"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/us-fl\/wp-json\/wp\/v2\/posts\/35125","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/us-fl\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/us-fl\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-fl\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-fl\/wp-json\/wp\/v2\/comments?post=35125"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/us-fl\/wp-json\/wp\/v2\/posts\/35125\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-fl\/wp-json\/wp\/v2\/media\/35126"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/us-fl\/wp-json\/wp\/v2\/media?parent=35125"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-fl\/wp-json\/wp\/v2\/categories?post=35125"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-fl\/wp-json\/wp\/v2\/tags?post=35125"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}