ReSeed Partners

Seeding local real estate operators - Partnering with long-term investors

[ReSeed Partners @ReSeedPartners]

We're excited to announce the launch of ReSeed. We’re a team of operators and investors working together to help real estate entrepreneurs build the next generation of leading real estate businesses.

[Moses Kagan @moseskagan]

Want to thank my friend @bhargreaves for featuring @ReSeedPartners in his Thesis Driven Innovation 100 today.

Proud of what Rhett and the team have accomplished (w me mostly along for the ride).

[Moses Kagan @moseskagan]

Thanks to @jayparsons for hosting @reseedrhett and me on his pod to talk about ReSeed and what we're seeing in sub-institutional multifamily across the country.

(Pls ignore my ridiculous hair in the thumbnail below. Someday I'm going to have a good headshot taken.)

https://t.co/ZdEh5oumXi

[Chris Powers @fortworthchris]

Moses Kagan (@moseskagan) & Rhett Bennett (@reseedrhett) discuss why owners should not just think about the agreement between them and their property manager, but more importantly, the incentives that exist for the employees inside the property management company.

[Chris Powers @fortworthchris]

Today I sit down with two of my best friends, Moses Kagan and Rhett Bennett to reflect on how ReSeed has evolved since their first appearance (ep. 278) on the show three years ago.

ReSeed is on a mission to back the next generation of elite real estate operators.

We unpacked what has actually happened since launch, how their original vision has held up in practice, and what they have learned by deploying real capital across multiple markets and operators.
We also dug into how they think about underwriting, operator selection, asset management intensity, and navigating a shifting multifamily landscape. It was a candid look at what it really takes to build a disciplined, long term real estate platform in today’s market.

We discuss:
• How ReSeed’s original thesis has played out after deploying over $100M across multiple operators
• What they look for in emerging operators and how the cohort selection process has evolved
• Why discipline and patience mattered during a slow deal environment and when opportunities finally opened up
• How they approach underwriting, leverage, and long-duration capital in different markets
• The realities of asset management, property management, and execution risk at smaller deal sizes
This episode is for investors, operators, and anyone interested in building durable real estate businesses with long term alignment and disciplined capital deployment

4:01 - ReSeed's journey and evolution
17:14 - Profile and selection of operators
25:10 - Partnership and capital structure
37:39 - Due diligence and deal approval process
40:51 - Cohort integration and support
42:55 - Real estate market overview
43:22 - Market opportunities and challenges
50:41 - Market fatigue and seller dynamics
51:20 - Operational challenges and opportunities
1:01:50 - Property management and asset management
1:11:36 - Construction management and budgeting
1:15:06 - Capital allocation
1:23:34 - Closing remarks

[Moses Kagan @moseskagan]

Wondering what we've been up to at ReSeed?

My man Chris had Rhett and me on for an in-depth update.

(So great to have an interviewer who has built one of these businesses before... he knows exactly what to ask to get the story out.)

[Chris Powers @fortworthchris]

Hanging with my OG’s - @moseskagan & @reseedrhett.

Episode drops Tuesday!

[Moses Kagan @moseskagan]

Early- and mid-career multifamily or industrial operators:

Friday is the deadline to apply to ReSeed for Cohort 3.

If selected, you get: Capital for your op co, mentoring, patient GP & LP capital for your deals.

We've put out >$100MM over the past ~2 yrs, we have ~$100MM in dry powder, and more is on the way.

If you're already out on your own or looking to go out on your own, strongly recommend taking a close look.

Learn more here: https://t.co/Fwiah6fQlG

[Moses Kagan @moseskagan]

*Important update re ReSeed*; hoping you will help spread the word:

ReSeed, which partners & I started several years ago to seed emerging real estate operators & provide them w long-term capital for deals, is soliciting applications for our 3rd cohort of operators.

Over the past ~2 yrs, we have invested in 13 operating partners & deployed >$100MM of equity. We have another ~$100MM of dry powder, plus ambitions to raise a *lot* more.

If you (or, you & a partner) have:
- The desire to start or grow your multifamily or industrial GP business
- 5-15 yrs in RE investing, debt brokerage, asset or property management
- A track record of executing multiple transactions independently or in a primary role
- Extensive underwriting experience and strong proficiency at Excel
- A fiduciary mindset, &
- Ability to source $5-20MM multifamily or industrial deals in 1-3 markets (ideally, where you live &/or to which you can easily drive)

…you should register your interest via the link below & we'll send you the application.

Applications are due mid-January, but we will be reviewing on a rolling basis between now and then. So, sooner is better than later.

Happy to answer questions.

Would appreciate likes / comments / re-posts to help spread the word.

Here’s the link: https://t.co/Fwiah6fQlG

[ReSeed Partners @ReSeedPartners]

https://t.co/6PueNVvwpR

[ReSeed Partners @ReSeedPartners]

We're proud to announce several key promotions and a new addition to the ReSeed team as we continue building the premier sub-institutional real estate investment platform.

- Doug McCrary has been named President
- Laura Krannich has been promoted to Chief Platform Officer
- Lee Thompson joins as Chief Financial Officer
- David Bergeron transitions to Senior Advisor

Link to press release below.

[ReSeed Partners @ReSeedPartners]

https://t.co/co0HlRLRof

[ReSeed Partners @ReSeedPartners]

Last week, the ReSeed team gathered in Boulder, CO, for our second Launch Week to welcome our new cohort of real estate operators.

Cohort Two includes 8 operators across 5 ReSeed partnerships. This new wave of talent brings expanded market exposure and differentiated strategies to our platform.

Importantly, we are growing our network at a time when we are seeing an emergence of more interesting opportunities across our markets, and our next acquisition is scheduled to close in November.

Stay tuned for more news! If you’re looking to invest with us, make sure to join our investor list (link in the comments) for first access to upcoming deals.

[ReSeed Partners @ReSeedPartners]

Thanks @pslohmann for the thoughtful article.

[Peter Lohmann @pslohmann]

Article is now live! https://t.co/ATCrCE1F8m

[Bill Smith @billsmitha]

The @ReSeedPartners Fall 2024 Cohort is open for applications from budding real estate entrepreneurs.

Reseed is like YCombinator for real estate.

They provide operating partners the resources, capital, and community to become entrepreneurs.

@reseedrhett and @moseskagan are fantastic partners to have in your corner. Consider applying if you are an ambitious, mid-career multifamily operating partner looking to launch your own businesses: https://t.co/vK1r5qxlQ3

[Eric Nohelty @epnohelty]

I met Moses and @reseedrhett during the process of them starting ReSeed and am a happy investor in both Fund 1 and several deals.

Now a year in, I’m happy to report they’ve done everything they’ve said they would do. It’s early but we’re very excited about what they are building. Moses and Rhett are two of the most thoughtful real estate investors I’ve ever met.

During diligence we got the chance to meet several of the local partners from Cohort 1 and were blown away at the quality of operators they partnered with.

If you’re considering applying I’d highly recommend the ReSeed team. You’ll supercharge your business and upgrade your underwriting skills on day 1.

[Moses Kagan @moseskagan]

Last year, some co-founders & I launched ReSeed, a sort of "Y combinator for real estate operators" (not affiliated w YC!).

Writing to update you on progress & also to try to convince (some of) you to apply for Cohort Two.

First, the update. In the past ~year, we:

- Launched Cohort One w eight operating partner businesses (selected from among >600 applications)

- Raised ~$55MM in discretionary capital & shook hands on >$100MM in deal-by-deal capital from a few large investors (Side note: Has been incredible to work w co-founders who have such broad & deep networks of their own)

- Slow '23 on the acquisitions front, due to pricing not having adjusted yet

- Productive '24: Closed on three transactions (Jan., May, June) all cash, with another expected to close in July

Our goal for the rest of '24 & into '25:

- Continue to support Cohort One as they execute the deals they've bought & hunt more, in what is becoming an interesting buying environment in some markets (not LA!), &

- Recruit ~four mid-career people interested in building large, independent, long-term-focused multi-family investing businesses to join Cohort Two.

If that sounds like you & you're interested in applying, pls click the link below.

(Note: As part of the process for selecting Cohort Two, we are reviewing last year's applications again. If you previously applied, no need to apply again, unless something dramatic has changed on your end.)

https://t.co/h8YpFOZ8A1

[ReSeed Partners @ReSeedPartners]

https://t.co/k8MlPE9jP0

[ReSeed Partners @ReSeedPartners]

🚀 Today, ReSeed is opening applications for our second cohort of operating partners.

Our Fall 2024 cohort is open to ambitious, mid-career multifamily operating partners looking to launch/accelerate their businesses.

ReSeed provides long duration capital, operating support, and a structured network of peers and industry mentors.

📣 Last year, we launched our first cohort of 8 operating partner businesses. Since then, we have:
→ Raised significant capital to seed cohort operating businesses and fund acquisitions
→ Grown our list of interested investors to 1,400+, in addition to the capital above
→ Productive 2024 - Closed 3 transactions (Jan., May, June) all cash with another expected to close in July
→ Developed and refined our infrastructure to support institutional-quality diligence, fundraising, reporting, and asset management at scale

🔗 If you’re interested in applying or know someone who would be a great fit, please use the link to learn more and apply. Applications are due Tuesday, July 9.

[ReSeed Partners @ReSeedPartners]

Today we honor and remember those heroes who made the ultimate sacrifice for our country. #MemorialDay

[Moses Kagan @moseskagan]

Just got back from touring an asset that fits the @ReSeedPartners model perfectly:

- Too small for institutional $, but chunky enough
- Irreplaceable location in very well-established, affluent, walkable, supply-constrained sub-market w diverse, lindy generators of demand
- Pretty good bones, including under-utilized land
- Needs a lot of love to make it shine

Fingers crossed that DD works out well.

If you’re interested in learning more about ReSeed, check out https://t.co/d0CnpqIaNU