Aerial view of Phoenix looking toward Camelback Mountain

Disciplined capital for the Southwest.

Capital Allocation Partners acquires, repositions, and develops multifamily and medical office real estate across Arizona and Utah, with a structure built around investor alignment.

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Phoenix, looking toward Camelback Mountain

In total purchases: $290M
Investments across Arizona, Utah, and beyond: 61
Round trips: properties bought, improved, and sold: 52
Apartment units acquired: 1,514
Funds: 8
Funds with losses¹: 0
Year founded: 2010

Flagship Investment

Sanctuary on Broadway.

The largest investment in the firm’s history: a 240-unit apartment community at 1301 W Broadway Road in Tempe, acquired by Fund IV in January 2021 and sold sixteen months later.

Purchased: $42.75M
Sold: $75M
Units: 240
Hold: 16 months
Fund: Fund IV
Strategy: Value-add

A partner-led platform built on alignment.

Pool and palm trees at Revival on 5th, Phoenix

Since 2010, Capital Allocation Partners has made 61 real estate investments across eight funds, focused on multifamily housing in Arizona and Utah.

We pair an industry-disruptive deal structure with deep relationships across brokerage and construction, and the kind of market-specific expertise that only comes from operating in the same submarkets for more than a decade.

Our partners have acquired, renovated, and repositioned properties at every stage of the cycle, from converting Class B and C apartments to ground-up townhome and rental communities. That operating depth lets us find opportunities others overlook and execute on them with discipline.

Fifty-two of those investments have completed the full round trip, bought, improved, and sold, and none of our funds has lost money.

Nathan Reid Founder & Managing Director

No management fees. No disposition fees. No construction management fees.

Capital Allocation Partners is focused on alignment with investors. Our structure removes the layers of fees common across private real estate, so our success depends on the same thing yours does: the performance of the assets.

Proprietary Sourcing

Long-standing relationships across the brokerage community give us early looks at opportunities, often before they reach the broader market.

Operator Execution

Our partners bring licensed general contracting, renovation, and development experience in-house, from thousands of unit conversions to ground-up builds.

Market Focus

We concentrate on the submarkets we know intimately, from Phoenix, Scottsdale, and Tempe to Salt Lake City, rather than chasing deals nationwide.

Where we invest.

Four complementary strategies, each grounded in the markets we know best and the operating capabilities we’ve built in-house.

Value-Add Multifamily

Acquiring well-located Class B and C apartment communities and repositioning them through targeted renovation and improved operations.

Ground-Up Development

Building new townhome and multifamily rental communities from the ground up on well-located infill sites.

Medical Office

Investing in medical office buildings that serve the healthcare needs of the Southwest’s fast-growing communities.

Net Lease & Land

Net-lease retail and well-located land positions, held for steady income and future development.

Featured portfolio.

View all 61 investments

Concentrated in the Sun Corridor.

All 61 investments, anchored in metro Phoenix, one of the nation’s fastest-growing regions, with selective exposure to Utah and net-lease properties beyond the region.

Operators first.

Our team has spent their careers buying, building, managing, and accounting for real estate in the markets where we invest.

Nathan Reid

Founder, Partner & Managing Director

Nathan has acquired and repositioned dozens of properties representing over $250 million in value. After earning an MBA from the W.P. Carey School of Business at Arizona State University, he began his career at Ernst & Young and went on to serve as CFO/Controller for several Arizona-based companies.

He founded Southwest Realty and Property Management, which managed approximately 1,200 apartment units and single-family homes before being acquired by Realogy (NYSE: RLGY). Nathan is a six-time Ironman finisher.

Geoff Boeyenga

Partner & Director of Construction

Geoff moved to Arizona in 2006 to oversee renovation work for a private real estate developer. After converting more than 2,000 apartments to condominiums, his focus shifted to acquiring, renovating, and repositioning over 20 distressed Class B and C multifamily properties.

He holds a General Contractor’s license and founded Orange Construction, ultimately growing the company to 24 employees.

John Trusiak

Principal

John has spent his career in credit, underwriting, and portfolio management, and is an experienced investor in both the institutional and non-institutional space. As a principal, he is a personal investor in the funds and is involved in the operations of the assets. He believes compounding capital is one of the greatest financial gifts an individual can achieve.

A lifelong Phoenician, John is involved in many for-profit and nonprofit organizations across the Valley, including PCH50, a group of 50 business leaders who support the Phoenix Children’s Hospital Foundation.

Sheri Spacy

Controller

Sheri is an accounting and business management professional with more than 25 years of experience in financial operations, organizational management, and business administration. With a degree in accounting, she brings deep expertise in financial reporting, budgeting, operational efficiency, and strategic planning.

Known for her attention to detail and practical problem-solving, Sheri enjoys finding creative solutions to complex challenges. Outside the office she spends time with her husband, Bob, and their family, travels, and is known for elaborate seasonal displays that bring the community together.

In the conversation.

Podcast · Video

Nathan Reid on the Circle of Competence Podcast

Founder Nathan Reid joins the Circle of Competence Podcast for a conversation about his career and his approach to real estate investing.

Watch the episode

Let’s talk about your next allocation.

We work with accredited investors who share our long-term, disciplined approach to real estate. Reach out to learn about current and upcoming opportunities.

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Investor Relations: Nathan Reid, Partner
Email: nathan@capitalallocationpartners.com
Phone: 602.402.1410
Principal: John Trusiak
Email: john@capitalallocationpartners.com
Existing Investors: Access the Investor Portal ↗