The PPA Group that launched in 2003 in Seattle and Casoro Capital, based in Texas and open since 2015, recently announced they have teamed up to form Casoro Group. The reconstituted company, which also includes construction arm Ingenium Construction, will be headquartered in Austin, Texas. By combining forces, they are now responsible for conducting more than $1 billion in real estate transactions by way of discretionary investment funds, joint-venture partnerships, 1031 exchanges, self-directed retirement accounts, and its REIT, Upside Avenue.
The newly minted firm’s goal is to bring a stronger investment presence to the multifamily real estate market as they remain bullish on the continued growth of the rental market. “Pent-up demand for apartments is high, and when you look at the changing population in America, you can see why investing in multifamily is an attractive choice for those who want solid returns no matter what the stock market or housing market might be doing,” said Monte Lee-Wen, founder and president of The PPA Group.
Casoro is especially interested in value-add opportunities and wants to expand beyond its home base of Dallas-Fort Worth, San Antonio, Austin, and Houston. “Our passion is to provide better homes for better lives. By updating and improving the communities in which we invest, we improve the quality of life for our residents and the quality of returns for our investors,” said Yuen Yung, CEO of Casoro Group.
The group will continue to rely on cultivating a positive work environment for its 100-plus employees. “Our company values of being caring, exceptional, teachable, and bold, of speaking to inspire and being growth-oriented translate to our culture, where team members are recognized for their successes, encouraged through failures, and coached throughout their careers,” said Yung. “We provide cutting-edge industry training and leadership development at all levels, and the results of this investment in our people is our continued success as an investment firm.”
