Profiles: FPA Multifamily

Earlier this year, FPA Multifamily completed its final close of Apartment Opportunity Fund IX, raising $1.765 billion. Investors include the Sacramento County Employees’ Retirement System (SCERS), who committed $30 million and the Educational Employees Retirement System of Fairfax Couty (Va.) (ERFC) who committed $9 million. SCERS previously committed $50 million to FPA Core Plus Fund VI, a core-plus fund launched in 2022.

Founded and led by Gregory A. Fowler, FPA Multifamily and its’ affiliated property management subsidiary, Trinity Property Consultants, oversee over 770 apartment communities. With over 152,500 units, FPA is ranked #14 on NMHC’s list of top owners. Redwood Construction, serves as the in-house construction management division for all Fowler Property Acquisition assets.

The firm’s mandate targets premium multifamily properties in leading U.S. metros. Currently investing out of Fund VI, FPA has been very active on the acquisitions front so far this year, adding multifamily properties in Fitchburg, Wisconsin; Moreno Valley, California; Naperville, Illinois; Thousand Oaks, California; Tualatin, Oregon; Federal Way, Washington; and Eden Prairie, Minnesota. The properties combined total nearly 2,000 units.