In my recent podcast guesting on the Best Ever CRE Show, I sat down with Matt to talk through how Apogee Capital actually finds deals in today's market. We got into why knowing what makes a good deal is the real starting point, long before you ever pick up the phone with a broker, and why chasing deals in DFW pushed Apogee to become experts in tertiary markets like Tulsa, Oklahoma City, and College Station instead.
I broke down why broker relationships are the backbone of Apogee's deal flow, how to earn a broker's trust when you're brand new, and why simply doing what you say you're going to do is still one of the most underrated advantages in this business. I also walked through the story behind Parkside Apartments in Lubbock, a deal that got away from us at first before falling back into our lap, and how that deal fit into a broader shift toward true value-add opportunities.
We closed out talking about where Apogee is headed next, why I feel like now is actually a great time to be buying, and the origin behind the Apogee name itself.
Timestamps
00:00 Intro and Jonathan's background in real estate
02:11 How engineering shaped Jonathan's approach to investing
06:45 How the market shifted from 2021 to today
07:25 Why Apogee expanded into tertiary markets like Tulsa and Oklahoma City
09:00 Why deals have to work with agency debt above 85% occupancy
10:33 Why Apogee sources deals strictly through broker relationships
12:04 How to get brokers to take you seriously when you are a beginner
14:19 Why integrity and consistency matter more than any pitch
17:04 The story behind the Parkside Apartments deal in Lubbock
40:58 Why Apogee is focusing on Dallas Fort Worth and Oklahoma City going forward
43:38 The origin story behind the Apogee name
What We Cover
- Why knowing what a good deal looks like matters more than finding deal flow
- How Apogee shifted into tertiary markets when DFW became too competitive
- Why broker relationships remain the most reliable way to source multifamily deals
- How to build trust with brokers as a newer investor
- The story behind the Parkside Apartments deal in Lubbock and how it came together
- Why now may be a strong time to buy despite a tougher lending environment
- Where Apogee Capital is focusing next and the story behind the company name
Key Takeaways
- You have to be able to identify a good deal before finding deal flow actually matters
- If a deal does not work with agency debt above 85 percent occupancy today, growing into it is not a realistic plan anymore
- Broker relationships are built on simple integrity, doing what you say you are going to do consistently over time
- Partnering as a co-GP with an experienced sponsor is one of the most realistic ways to jump from small deals to much larger ones
- Even technically on-market deals can behave like off-market opportunities when you get an early look before they officially list
- A buyer falling through on earnest money can open the door for a backup buyer who is ready to move quickly
- Apogee is now focused specifically on Dallas Fort Worth and Oklahoma City to build depth in fewer markets
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🌍 Website: https://www.apogeemfc.com/
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