Praxis Capital
Year Founded
2001
AUM
$500M
Headquarters
Santa Rosa, CA
Praxis Capital, Inc. is a vertically integrated real estate private equity investment firm which combines an entrepreneurial approach with an institutional infrastructure. The executive team at Praxis combines more than 100,000 units of experience in the multifamily sector.
With over $500 million in assets under management, the focus at Praxis is to implement both tactical and strategic models to acquire underperforming residential real estate assets in US growth markets that we can transform through renovation and repositioning. At Praxis, we aren’t content merely to see opportunities others don’t. Or to simply seize opportunities others can’t.
We believe in “creating” value…and we have done just that over 750 times since 2001.
Markets
Georgia
Alabama
Arizona
Florida
Texas
Asset Classes
Multifamily
Senior Housing
Accepted Investors
Accredited
Family Office
Institutional
Qualified Purchaser
Praxis Capital Reviews
5Invest Clearly reviews are real experiences from verified investors. Here's
Reputable Experienced Sponsor
I am new in alternative investments (only started in 2024) but as I continue to learn and invest in multifamily, mobile home parks, etc. I have learned that going with an experienced, seasoned sponsor is key to being able to sleep better at night. I have read Brian's book and have learned a lot from him and now happy to participate in the Health Fund he opened up. I am very excited with this opportunity, knowing the need for Assisted Living and the increased demand it will have with the Baby boomers. Praxis Capital is excellent in their communications and I like that they only call the capital as they need it.
I Like Them Despite Trouble with the Fund I'm In
The MF fund I am in is having trouble. The causes are complex, due mostly to the significant headwinds that all MF from the last decade now faces. I'm not getting distributions near where I'd like. The good news is that it is largely due to no fault of their own. In hindsight, variable rate financing and rate caps ended up costing a lot of money and I'm not sure if I prefer a syndicator who chooses that route--though obviously in a different macro-economic environment, I think they would have sold all the assets in the fund in like 2023-2024 and I would be having pina coladas on a beach right now. The fact is that much of my MF portfolio is ailing, and many LPs know what this is like because they are experiencing the same exact situation. C'est la vie. Though I have had some moments where I questioned much about multifamily investing in the last five or six years, I have never questioned their ability, their integrity, or their honesty. In fact, I think they are working hard to manage the assets and the properties well enough that eventually when a sale is possible for a non-negative amount, they will jump on it. As he says in his book (paraphrasing here) unfortunate things happen in MF investing, but it is the integrity, the hard work, and the ethics of the sponsor that matter as much or more than any other factor when it comes to earning profit for investors in a timely fashion. Or when it comes to not losing LP capital. Will I make the IRR I was hoping for? No. Am I happy with virtually ANY of the MF I bought in the 2020 era? No. Would I invest with them again? I just did, in their Healthcare Fund. I probably came away from this era feeling that fixed rate, agency debt is advantageous--but the CEO Brian Burke makes a cogent and compelling argument that in most normal cycles (this is not one of them), variable rate financing + rate caps allows a certain nimbleness that fixed debt does not. I think one can get a really good idea about what Praxis is all about by looking into videos, podcasts, and forums online, and if one does I bet they will come to believe that Praxis is a unique and trustworthy company based on the evidence that is out there.
This is What You Want In a Sponsor
I invested in Multifamily Fund V. Most of these assets were acquired near the peak of the market in 2022. Subsequently, distributions were paused for some time. During that time, Brian and the leadership team have been very detailed and transparent about what's going on with the portfolio. The professionalism and real talk is second to none. They were able to avoid a capital call and just turned distributions back on. If my expectations were't met, it's only because the investment didn't produce a home run. However, if you go into an every syndication with that expectation, you will most certainly learn disappointment. What Praxis showed me was the gold standard in how to deal with tough situations and anxious investors during a difficult time in the market cycle....A+.
Excellent experience
I invested in a fund with Praxis and Brian Burke, and I couldn't be happier with my decision. They are smart, experienced, and they manage risk very well. The fund closed in 2021 during the peak of multi family, but I'm still receiving distributions and there have been no capital calls, which is a stark contrast to many other syndications closing funds around that time that have paused distributions and made capital calls. Their communication is excellent, and I can't speak highly enough for their team. I'd be happy to invest with them again.