Source materials into structured data
Rent rolls, T12s, operating statements, and deal materials are normalized into a consistent record of units, rents, occupancy, income, expenses, and property-level assumptions.
REAL ESTATE INVESTMENT FIRM
Structured Capital for Class A Multifamily
White Fox Capital provides structured preferred equity to owners of Class A multifamily assets, partnering with sponsors through recapitalizations, loan maturities, and refinancings.
We invest at high leverage points in the capital stack, where traditional preferred equity stops and few providers compete.
ABOUT US
Structured preferred equity for Class A multifamily
White Fox Capital provides structured preferred equity to owners of Class A multifamily. We invest at high leverage points in the capital stack, where traditional preferred equity stops and few providers compete, partnering with sponsors to recapitalize strong assets through changing markets.
Our focus is disciplined: Class A assets in institutional markets with sound landlord law, structured to protect our position.
WHY WHITE FOX
Built for winter
The white fox is built for winter. When the landscape turns hostile, it grows a thicker coat, hunts where others cannot, and finds opportunity in ground that looks bare.
Our name also carries an older story. After the destruction of Jerusalem, Rabbi Akiva and his companions came upon a fox emerging from the ruins of the Temple. His companions wept while Rabbi Akiva laughed. They saw only what had been lost. He saw what could be restored.
That is how we see the market, and it is a story our founder, whose middle name is Akiva, has carried since childhood. Dislocation is not the end of a story but the start of the next one. We invest where others see only what was lost, with the patience to work through the winter and the conviction that what is well built will be restored.
LEADERSHIP
Investment and technology leadership
Founder and Managing Partner
founded White Fox Capital in 2026. He was previously a Partner and Head of Investments at Spruce Properties, where he oversaw the business across acquisitions and dispositions, financing and capital markets, asset management, property management, and project management. Spruce Properties owns approximately 5,000 multifamily units across the United States, of which 4,020 were acquired under his leadership.
Before that, he worked as an analyst and associate at S3 Capital, a real estate credit platform. During his time there, the portfolio scaled from $275 million to $1.5 billion, and he helped launch and build its large balance loan platform.
He holds a B.A. in Financial Economics and Germanic Languages from Columbia College and an M.A. in Statistics from Columbia University.
CEO, White Fox Labs
leads White Fox Labs, the technology affiliate of White Fox Capital, which builds the underwriting, sourcing, and asset management systems behind the firm's investment process and licenses them exclusively to White Fox Capital.
He is the founder and former Chief Executive Officer of nth degree, a custom software development firm serving institutional clients. Earlier in his career he worked at McKinsey & Company and as a product manager at Zynga, and he has conducted machine learning research in the Department of Statistics at Columbia University.
He holds a B.A. from Columbia College and an M.A. in Statistics from Columbia University.
TECHNOLOGY
White Fox Labs
UNDERWRITING INFRASTRUCTURE
Purpose-built systems for real estate credit
White Fox Labs builds the internal technology platform behind White Fox Capital's investment process: tools that convert messy source materials into reviewed deal data, reusable underwriting models, live forecasts, and decision-ready outputs.
Models built for repeatability
Reusable templates, versioned assumptions, and model variants allow the team to compare base, upside, downside, and transaction-specific cases without rebuilding the same logic from scratch.
Forecasts connected to outputs
Monthly calculations flow into annual views, Excel exports, and reporting packages so investment decisions can be traced back to source data and reviewed assumptions.
APPROACH
Capital where it is scarce
Where capital is scarce
We invest between where traditional preferred equity stops and the sponsor's equity begins, a part of the capital stack few providers serve.
Sponsors keep their assets
Owners retain ownership and upside instead of selling at the bottom of the market. We provide the capital that resets the balance sheet.
INVESTMENT CRITERIA
High quality multifamily assets facing a capital need
We partner with owners of high quality multifamily assets facing a capital need. If your situation fits, we would like to hear from you.
- Asset Class
- Class A multifamily, institutional quality
- Vintage
- 2015 or newer construction, 2020 or newer preferred
- Unit Count
- 100+ units per property
- Property Value
- $30M to $200M
- Investment Size
- $5M to $50M
- Position
- Structured preferred equity up to 90% of value
- Pricing
- Structured to the transaction
- Transaction Type
- Recapitalizations, loan maturities, refinancings requiring new equity
- Sponsor Position
- Sponsor retains ownership and upside
- Senior Debt
- Existing loan or new financing
- Target Markets
- Sunbelt and Mountain West
- Investment Term
- 3 to 7 years
NEWS
Press releases and firm updates
No press releases have been published yet.
CONTACT