We are pleased to share that Fund IV has officially closed!
We want to sincerely thank both our returning investors and those joining us for the first time. The strong support we received throughout the fundraising process is deeply appreciated and, in our view, reflects meaningful conviction in our strategy, our disciplined approach, and the opportunity set ahead.
Today’s backdrop continues to offer attractive entry points, strong structural tailwinds in our target sectors, and visibility for meaningful long-term upside.
We are grateful for the trust you have placed in us and are energized to begin executing on Fund IV. We look forward to building on our partnership and delivering strong results in the years ahead.
Closed: The Elme at Conyers
We’re excited to announce the successful closing of: The Elme at Conyers. A high-conviction, value-add opportunity in the Atlanta MSA that perfectly aligns with our strategy of acquiring mispriced assets with clear paths to upside.
We acquired the property at a 28% discount to its 2021 sale price, creating meaningful basis protection from day one. While current occupancy sits at 88%, performance has been impacted by elevated bad debt tied to prior ownership distress not market fundamentals giving us a unique opportunity to quickly stabilize operations and unlock immediate NOI growth.
This acquisition marks the first investment of Fund IV! Setting the tone for a disciplined, opportunistic strategy focused on strong basis, operational upside, and capitalizing on favorable market dislocations.
The Elme (240-Units)
Closed: Saddlebrook Apartments
On February 24, 2026 C-Port closed on the acquisition of Saddlebrook Apartments, a 267-unit multifamily community in Murfreesboro, one of the fastest-growing cities in the Nashville MSA.
This off-market investment presents a compelling value-add opportunity with multiple levers for rent and NOI growth. Renovated units have already achieved rent premiums exceeding $150 per month, validating the renovation strategy, with further upside available through washer/dryer installations and premium interior upgrades. In-place rents currently trail comparable properties by approximately $127 per unit, creating a clear path to continued mark-to-market growth.
Multifamily lending has clearly entered a new phase of stress, creating what we believe is an increasingly compelling landscape for well-capitalized investors. After several years of near-zero distress when delinquency rates hovered between roughly 0.23% and 0.39% from 2017 through mid-2022 amid low rates and strong rent growth. Conditions shifted meaningfully following the Federal Reserve’s rapid tightening cycle.
Overall multifamily delinquencies have climbed from 0.40% in Q3 2023 to 1.37% in Q3 2025, a 3.4x increase in just two years, with total delinquent balances rising from approximately $2.4 billion to nearly $8.9 billion. Importantly, the majority of this stress is concentrated in serious delinquencies (90+ days past due), indicating that many borrowers have exhausted short-term remedies and lenders are increasingly moving toward resolution. At the same time, realized losses (while below GFC peak) are accelerating more quickly than in prior cycles, reflecting the impact of floating-rate exposure, cap rate expansion, and valuation resets in select markets and vintages.
In our view, this combination of rising but contained distress, concentrated severity, and an accelerated repricing cycle is creating attractive entry points for disciplined, well-capitalized investors who can provide certainty of execution and transact where traditional liquidity is constrained.
"The market is realigning, creating both consequences and opportunities.Over-levered, operationally weak assets face the most near-term pressure as maturities accelerate. Disciplined operators and buyers with strong execution capabilities and patient underwriting stand to benefit from repricing and a more active transaction environment in 2026."
"U.S apartment construction is firmly in retreat, with new supply pulling back in 2026 after several years of elevated building. While the national slowdown is clear, the return to more typical supply is unfolding at different speeds across different markets."
"The proposed legislation would empower the U.S. Justice Department with enforcement authority for civil violations and prioritized antitrust review for major investors’ purchases of residential real estate."
"Retail gas prices move about 2.5 cents for every $1 move in the price of crude oil, so even higher prices could be on the horizon for consumers who have been grappling with the high cost of living for the last few years."
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