REAP Capital is a Dallas-based private real estate investment firm that specializes in acquiring, repositioning, and operating value-add multifamily properties. The firm’s vertically integrated model focuses on sourcing under-performing assets in markets with strong growth fundamentals and enhancing them through renovations, operational improvements, and repositioning to drive revenue growth and investor returns.

Founded by David Lilley, who transitioned from single-family investing into multifamily and now leads REAP as its CEO, the firm emphasizes disciplined underwriting, hands-on asset management, and strategic renovations to unlock value in multifamily real estate. Over time, REAP has built a portfolio comprising more than 1,000 apartment units and over 260 self-storage units across states like Texas, Arizona, and Florida.

REAP pitches itself as IRR-driven — prioritizing strong internal rates of return for investors through a scalable value-add strategy. The firm offers investment opportunities primarily to accredited investors and institutional partners, tailoring projects and disclosures through private placement documents rather than broad retail marketing.