Multifamily Real Estate
Investments
Operator
Equity Partner
Lender
Who We Are
TRA Investments is a California-based real estate investment firm with over 17 years of experience as an owner, operator, and capital provider. Founded during the Great Recession, the firm built its foundation by repositioning distressed assets before expanding into commercial real estate investments, primarily multifamily. Leveraging deep market knowledge, long-standing relationships, and disciplined underwriting, TRA delivers flexible capital solutions and creates lasting value for investors and partners.
2008-2011
Distressed assets including foreclosed SFR and multifamily properties and non-performing debt
2012-2021:
Common equity investments in select multifamily, office, and self-storage opportunities
2022-2023:
Pause on acquisitions, development of preferred equity platform
2023 - NOW:
Deploying small balance preferred equity for multifamily real estate
Evolution of TRA Strategy
TRA has managed or invested in the development or re-positioning of:
30+
Apartment Communities
230+
Single Family Homes
250K+
SF of Office Space
4
Storage Facilities
Deal structures utilized include:
JV/Co-GP
Syndication Of LP Equity
Direct Sponsor
Mezzanine Debt/ Preferred Equity
Our Experience
$10.65 Million+
Capital Deployed
327 Units
Total Units
$1 – $8 Million
Typical Investment Range
17
Years in Operation
How We Invest
TRA is a U.S. multifamily real estate investment company with 17+ years of experience as an owner, operator, and equity provider. We analyze capital market liquidity and supply-demand trends to identify opportunities for strong returns with mitigated risk. Today, we focus on providing preferred equity and mezzanine capital for high-quality apartment communities nationwide.
Preferred Equity
Flexible Capital Solutions | $2 - $8 million
TRA provides flexible capital solutions that help multifamily owners and operators bridge financing gaps with speed and certainty. Our Small Balance Preferred Equity platform targets the underserved $2 - $8 million segment where institutional capital rarely participates. We offer sponsors creative structures, execution certainty, and long-term alignment to optimize outcomes for investors and partners.
HOW WE INVEST
TRA is a U.S. multifamily real estate investment company with 17+ years of experience as an owner, operator, and equity provider. We analyze capital market liquidity and supply-demand trends to identify opportunities for strong returns with mitigated risk. Today, we focus on providing preferred equity and mezzanine capital for high-quality apartment communities nationwide.
Joint Venture Equity
LP and Co-GP equity investments
TRA can invest up to $8 million into LP and co-GP equity structures. We seek long-term partners, provide flexible capital, and customize deal structures to ensure alignment of interests. Our approach emphasizes disciplined underwriting, creative structuring, and selective market participation to optimize outcomes for both sponsors and investors.
Preferred Equity Requirements
Rising rates and construction costs have made project financing more challenging.
TRA provides preferred equity and mezzanine solutions for qualified developers seeking capital to complete construction, refinance, or extend senior loans.
Why TRA Investments?
Experienced Across the Capital Stack
Expertise in preferred equity, mezzanine debt, and joint venture structures.
Strategic Relationships Nationwide
Strong network of sponsors, developers, and lenders across the U.S.
Proven Track Record Since 2008
17 years of consistent performance through market cycles.
Downside Protection & Aligned Upside
Structures designed to safeguard capital and share in success.
Trusted by Sponsors and Capital Partners
What Our Partners Say
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Michael Carter
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Emily Brooks
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