Axia Capital | Collective Capital. Real Assets. Shared Prosperity.

Axia CapitalCollective capital.Real assets.Shared prosperity.

Axia Capital acquires 10 to 30 unit apartment buildings in select US markets, and pays our limited partners (LPs) quarterly. We invest where America works.

Read the thesis
Target Cash-on-Cash
6–10%
Stabilized, years 3 to 7
Target IRR
15–20%
Annual
Distribution
Quarterly
Beginning Q+2
Minimum LP
$50k
Accredited investors only
01 · The Thesis

Working America never stopped. Our buildings work with it.

We invest in Class B/C multifamily in select US markets, anchored by jobs that don't telecommute and don't get automated this cycle: logistics, healthcare, public infrastructure, and the trades and services that keep the country running.

Consistent Income

Rental income from stabilized, professionally managed buildings, distributed quarterly to LPs, beginning the second quarter after acquisition.

Real-Asset Appreciation

Value-add improvements and disciplined operations grow NOI over the 5 to 7 year hold, the engine behind durable price appreciation.

Tax-Advantaged

Depreciation pass-through, mortgage-interest deductions, and the option to defer gains through a 1031 exchange at exit. Real-estate-specific advantages stocks don't offer.

Inflation Hedge

Rents reset on annual cycles; the asset reprices with replacement cost. Real estate has historically been one of the strongest inflation-protected income streams available.

Professional Management

Property management, capital improvements, lender relations, and LP reporting are handled by Axia and our management bench. You wire capital; we run the building.

Transparent Reporting

Quarterly letters with property-level operating data. K-1s issued on schedule. A 24/7 investor portal for documents, statements, and distributions. No black boxes.

02 · How It Works

Four steps. One discipline.

Every Axia deal moves through the same four-stage system. The discipline is the product. We do not skip steps. We do not chase markets. We do not change underwriting standards to make a deal pencil.

Step 01 · Source

Find the inefficient middle.

We hunt 10 to 30 unit Class B/C properties in select US markets, too large for retail buyers, too small for the institutional funds. The competitive vacuum is the alpha.

Step 02 · Underwrite

Engineer the deal.

Conservative rent growth, market-tested cap rates, line-item operating budgets, and full third-party reports. The model has to hold up under the same scrutiny an institutional credit desk would apply.

Step 03 · Acquire

Close on our terms.

Capital structure is set before we offer. Debt placed through established lender relationships. LP commitments syndicated transparently, document by document, through our investor-relations platform.

Step 04 · Operate

Run the building.

Asset management is hands-on, with a professional property-management bench on every asset. Monthly internal review; quarterly LP letter; exit when the model says exit, not when the market is loud.

03 · Who We Are

Our goal is to deliver strong returns, and give back to our investors.

Apartment building
Representative image, not an Axia-owned asset

Axia Capital was founded on the conviction that the most reliable real estate returns come from buildings most people overlook.

We do the unglamorous work: sourcing overlooked buildings in working towns, improving the quality of the housing, operating them responsibly, and sharing the upside with the people who trusted us with their capital.

  • Thorough due diligence
  • Full-service asset management
  • Transparent investor communication
  • Customized portfolio fit per LP
  • Conservative leverage discipline
  • Design-led value creation
04 · Why Axia

Four reasons LPs choose Axia over the platform.

There is no shortage of multifamily sponsors. There is a real shortage of multifamily sponsors whose underwriting, operating discipline, and investor reporting hold up under scrutiny. Here is how we hold up.

Discipline

Underwriting that holds up.

Every deal model is built with redundant assumptions, stress-tested margins, and single-point-of-failure analysis. We don't pitch projections we can't defend, and we kill deals our own model can't survive.

Geography

Working towns, durable jobs.

We invest where the economic base is logistics, healthcare, public infrastructure, and the trades: jobs that don't telecommute, don't get automated this cycle, and don't disappear when a single employer leaves.

Craft

A designer's eye on every building.

Axia is led by a founder trained in industrial and architectural design, with real construction and restoration experience. We know what a renovation should cost, what it should look like when it's done, and which improvements residents actually pay for.

Skin

We invest alongside you.

Axia principals co-invest their own general partner (GP) capital on every deal. Our incentive structure rewards stabilized cash flow, not transaction volume. We make money when you make money, and we wait the same five to seven years.

05 · The Founder

An owner's discipline, a designer's eye.

Nick Gast, Founder of Axia Capital
Founder · General Partner
Nick Gast
Sonoma, California
Industrial & Architectural Design
Construction & Real Estate Restoration
Multifamily Acquisitions & Operations

With a background in industrial design, architectural design, construction, and real estate restoration, Nick Gast brings a hands-on, design-oriented approach to multifamily investing. His experience working across the built environment has given him a practical understanding of how thoughtful design, disciplined renovation, and careful execution can create lasting value in real estate.

Nick founded Axia Capital around a simple belief: that improving the places people call home can create meaningful value for both residents and investors. The company focuses on acquiring smaller multifamily properties, primarily 10 to 30 unit buildings in select US markets, where thoughtful improvements, responsible ownership, and hands-on asset management can unlock the potential of overlooked properties.

His investment philosophy is straightforward: acquire fundamentally sound properties, improve the quality of the housing, operate them responsibly, and create attractive long-term returns for investors. For Nick, successful real estate investing isn't simply about improving a property, it's about creating better places to live while building durable value for the people who invest alongside him.

06 · Strategic Advisor

An institutional bench, one disciplined standard.

Axia is advised by Justin Brennan on underwriting, lending relationships, legal counsel, and property-management infrastructure. The same desk that supports far larger transactions runs every Axia deal.

Justin Brennan, Multifamily Strategic Advisor to Axia Capital
Multifamily Strategic Advisor
Justin Brennan
Multifamily & Syndication
Acquisitions · Operations · Finance
Institutional Underwriting Bench

Justin is a seasoned multifamily investor, blending years of experience across real estate, construction, land planning, and syndication. He helps lead day-to-day operations and strategic direction across the platform that underwrites and operates Axia's deals.

Justin brings operational, legal, and capital-markets fluency to every transaction. He leads opportunity sourcing, operations setup, market and data evaluation, and finance, the same disciplines now applied to Axia's US working-market strategy. Debt placement, offering-document preparation, and property-management infrastructure all run through the institutional bench he helps direct.

Over the course of his career he has built a record of making investors money through disciplined growth, conservative leverage, and an operator's eye for the unglamorous details that compound over decades.

The value of hard work, cash flow, and a slow, disciplined approach to wealth-building is what ensures steady success in good times and bad. Justin Brennan
07 · Advisory Board

The bench behind every transaction.

Axia investors are protected by a professional advisory infrastructure: securities counsel, audit-grade CPAs, entity-structuring attorneys, and a dedicated investor-relations platform.

Khalsa McBrearty Accountancy, LLP
CPA · Tax Counsel
Khalsa McBrearty Accountancy, LLP

Audit-grade CPA support for syndicated real estate: tax preparation and review, cost-segregation coordination, on-schedule K-1 issuance, and complex financial modeling for every Axia entity.

Eric Weingold, securities counsel
Securities Attorney
Eric Weingold

Experienced corporate securities counsel responsible for drafting the Private Placement Memoranda, subscription agreements, and Regulation D filings behind every Axia offering.

Clint Coons, entity and asset-protection counsel
Entity & Asset-Protection Counsel
Clint Coons

Entity-structuring specialists who design and maintain the holding structures that protect investor capital, drawing on direct real-estate investing experience, not just theory.

Syndication Pro investor portal
Investor Relations Platform
Syndication Pro

White-labeled, 24/7 investor portal. K-1s, subscription docs, distribution statements, property updates, and capital-call sequencing in one place, the same infrastructure used by institutional GPs.

08 · FAQ

The questions most often asked, before the wire.

If you don't see your question here, ask it directly on the call. We answer in writing whenever we can.

Three structures. (1) Passive LP investment in an Axia-sponsored deal, the standard path. (2) Direct co-acquisition for accredited investors who want a larger position in a single asset. (3) Co-GP partnership, a general partner role for sophisticated investors who want to be active in sourcing and underwriting alongside Axia. Minimum LP investment starts at $50,000.
We screen US markets by job composition: logistics, healthcare, public infrastructure, and skilled trades must anchor the employment base. Then we underwrite individual 10 to 30 unit assets on cap rate, in-place cash-on-cash, value-add headroom, and debt-service coverage. We pass on the vast majority of properties we look at. Every deal that closes has been through the full underwriting stack before a dollar of LP capital is committed.
$50,000 for the standard Fund I LP position. Larger commitments are eligible for preferred LP class with additional reporting and a small fee discount. All Axia investments are offered under SEC Rule 506(c) of Regulation D and are limited to verified accredited investors.
Conservatively. A typical capital stack is 60 to 65% senior debt placed through agency lenders (Fannie and Freddie small-balance), with the remaining 35 to 40% funded by LP equity and GP co-invest. We do not use mezzanine or preferred-equity layers on Fund I assets. Every deal is underwritten to debt-service coverage well above lender minimums in our base case, with stress cases that hold up at a year-five refinance rate.
Multifamily real estate carries market risk (rent and cap-rate cycles), operating risk (tenant turnover, capex surprises), and financing risk (refinance market conditions). Axia mitigates these through geography selection, conservative underwriting, professional management, and disciplined leverage, but no investment is risk-free. The full risk discussion is in PPM §11 to §14 and we walk through it on the call.
Multifamily value is a direct function of net operating income. We grow NOI through three levers: (1) capex-driven rent premiums (unit refresh, amenity adds), (2) operating efficiency (utility separation, vendor consolidation, technology), and (3) ancillary revenue (trash valet, parking, storage). Properly executed, each lever compounds. Across our target markets, Axia targets year-over-year NOI growth of 4 to 6% during the value-add window.
LPs receive a K-1 each year capturing their pro-rata share of (1) depreciation pass-through, often substantial through cost-segregation studies in years 1 and 2; (2) mortgage-interest deductions on the senior debt; and (3) the option to defer gains via 1031 exchange at exit. Consult your tax advisor; we are happy to introduce you to our fund-accounting partners if you don't already have multifamily-experienced counsel.
Every LP gets login credentials to our secure investor portal. The portal shows committed capital, paid distributions, property-level performance, documents (subscription agreement, PPM, K-1s, distribution statements), and quarterly letters. Distributions hit your linked account on the standard quarterly cadence beginning Q+2 after acquisition.
Schedule a 30-minute call

Capital, where the jobs are

A short conversation with Nick Gast. We'll walk through the thesis, the current pipeline, and where Axia fits inside your portfolio. No deck, no pressure, just the numbers.

Direct contact
Nick Gast
Founder, General Partner
[email protected]
Sonoma, California 95476
axiacapital.properties
Axia Capital
Your reliable partner in working-town capital. Built on reliability, discipline, and long-term thinking.
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This website does not constitute an offer to sell or a solicitation of an offer to buy any security. Any such offer will be made only by the Confidential Private Placement Memorandum and subject to the qualifications and disclosures set forth in that document. Investments in real estate involve substantial risk, including loss of principal. Targets shown are based on Axia Capital's base-case underwriting assumptions and are not guaranteed. Past performance of any individual asset, sponsor, or partner is not indicative of future results. Axia investments are offered under Rule 506(c) of Regulation D and are limited to verified accredited investors. Consult your own tax, legal and financial advisors before investing.