We are actively seeking deals in Arizona and will have investments available for participation as a capital partner in the fourth quarter of 2025.

What We’re Looking For
Amethyst Projects targets value-add multifamily acquisitions in Arizona’s secondary markets that meet our proven investment criteria:

Property Profile: Class B/C, 20–100 units, purchase price between $2M and $15M (sweet spot $8–$10M)Amethyst Projects – Mul…

Financial Metrics: Going-in cap rates of 5.5%–7%, with below-market rents or operational inefficiencies we can correct

Value-Add Potential: Renovation budgets of $5K–$15K per unit to upgrade interiors and amenities, paired with improved management to boost NOI by 25–30% in 2–3 yearsAmethyst Projects – Mul…

Market Fundamentals: Population growth of 0.5%–1.5%+, diverse job base, constrained new multifamily supply, and occupancy rates typically in the low-to-mid 90% rangeAmethyst Projects – Mul…Amethyst Projects – Mul…

Why Certain Arizona Cities Work
Markets such as Tucson, Prescott Valley, Yuma, and Lake Havasu align with our strategy:

Strong Demand Drivers: Anchors like universities, military bases, healthcare, and manufacturing/logistics industries provide stability and job growthAmethyst Projects – Mul…

Supply Constraints: Limited new apartment construction keeps vacancies low and supports rent growthAmethyst Projects – Mul…

Pricing Advantage: Entry cap rates are often 100–300 basis points higher than in Phoenix or other primary markets, creating better cash yields now and potential valuation upside if institutional capital flows in laterAmethyst Projects – Mul…

Growth Trajectory: Benefiting from the broader Sunbelt migration, these cities attract residents from higher-cost states seeking affordability and quality of life

We believe Arizona’s secondary markets are at an ideal point in the market cycle—strong fundamentals, less competition, and an attractive pricing window following the post-2024 correctionAmethyst Projects – Mul….

If you are interested in co-investing with us in these upcoming opportunities, reach out to discuss how you can participate in our Q4 2025 acquisitions.

We are actively seeking deals in Texas and will have investments available for participation as a capital partner in the fourth quarter of 2025.

What We’re Looking For
Amethyst Projects targets value-add multifamily acquisitions in Texas markets that meet our disciplined investment criteria:

Property Profile: Class B/C, 20–100 units, purchase price between $2M and $15M (sweet spot $8–$10M).

Financial Metrics: Going-in cap rates of 5.5%–7% (or higher in tertiary markets), with below-market rents or operational inefficiencies we can improve

Value-Add Potential: Renovation budgets of $5K–$15K per unit for targeted interior and amenity upgrades, paired with operational enhancements to raise NOI by 25–30% within 2–3 years.

Market Fundamentals: Steady population growth of 0.5%–1.5%+, diverse employment bases, constrained new multifamily supply, and occupancy rates in the mid-90% range.

Why Certain Texas Cities Work
Markets such as San Antonio, the Central Texas Corridor (Waco, Temple–Killeen, Bryan–College Station), and select edge markets around Austin and Dallas fit our strategy:

Economic Diversity: Anchors in military, healthcare, tech, education, energy, and logistics ensure stable demand and reduce reliance on a single sector.

Cap Rate Advantage: Many secondary and tertiary Texas markets still trade 100–200 basis points higher than Austin or Dallas, delivering better cash yields with room for upside if institutional capital flows in.

Population & Job Growth: Cities like San Antonio grow ~1.9% annually and have absorbed recent new supply without major vacancy spikes.

Limited New Supply in Key Areas: Outside the largest metros, new apartment construction is modest, maintaining high occupancy and strong landlord leverage.

Strategic Edge Markets: Locations just beyond Austin and Dallas benefit from metro spillover growth while offering lower entry pricing and less competition.

We believe Texas’s secondary and select tertiary markets are positioned for outsized returns—strong fundamentals, attractive pricing after the post-2024 correction, and long-term demographic tailwinds.

If you are interested in co-investing with us in these upcoming opportunities, reach out to discuss how you can participate in our Q4 2025 acquisitions.

We are actively seeking deals in Nevada and will have investments available for participation as a capital partner in the fourth quarter of 2025.

What We’re Looking For
Amethyst Projects targets value-add multifamily acquisitions in Nevada markets that meet our disciplined investment criteria:

Property Profile: Class B/C, 20–100 units, purchase price between $2M and $15M (sweet spot $8–$10M).

Financial Metrics: Going-in cap rates of 5.5%–7% (or higher in smaller markets), with below-market rents or operational inefficiencies we can correct

Value-Add Potential: Renovation budgets of $5K–$15K per unit to enhance interiors and amenities, combined with improved management practices to boost NOI by 25–30% in 2–3 years.

Market Fundamentals: Sustained 0.5%–1.5%+ annual population growth, diverse employment bases, constrained new multifamily supply, and occupancy rates often in the low-to-mid 90% range.

Why Certain Nevada Cities Work
Markets such as Reno–Sparks and select submarkets of Las Vegas align with our strategy:

Reno–Sparks: Strong population growth (+4.6% since 2020) with a diversified economy in tech, manufacturing, logistics, and gaming. Vacancy is extremely low (~3%) due to modest new construction, creating excellent rent growth potential. Cap rates around 5.0% remain attractive given the market’s strength, and per-unit pricing is still competitive compared to coastal markets.

Las Vegas (Select Submarkets): Rapidly expanding metro (+5.9% population growth 2020–2024) that is diversifying beyond hospitality into logistics, manufacturing, and tech. While recent supply has pushed vacancies higher in some areas, targeted submarkets with limited new construction present strong value-add opportunities. Cap rates of ~5.5–6% for 1980s–1990s product offer healthy yields with room for rent growth as absorption continues.

Institutional Window: Both Reno and certain Las Vegas submarkets still have manageable institutional competition, allowing acquisitions at more favorable cap rates before broader capital inflows further compress yields.

We believe Nevada’s key secondary markets offer a compelling blend of growth, stability, and yield—driven by in-migration, economic diversification, and constrained new supply. The post-2024 correction has created a pricing window that, paired with our value-add approach, positions us to deliver strong returns.

If you are interested in co-investing with us in these upcoming opportunities, reach out to discuss how you can participate in our Q4 2025 acquisitions.