Investment Fund II

Residential Property Management


A residential management platform spanning multifamily communities, build-to-rent neighborhoods, and single-family rental portfolios across high-growth Sun Belt and gateway markets.

$0.820B
Committed Capital
17–22%
Net IRR Target
8 yr
Fund Term
Residential
Strategy
Strategy

Investment thesis

UpManagement Fund II consolidates residential property management operators and runs them as one institutional platform. The fund manages Class A and Class B apartment communities, purpose-built single-family rental neighborhoods, and scattered-site portfolios on behalf of owners — handling leasing, resident experience, renewals, maintenance dispatch, and owner financial reporting. Compensation is tied to rents actually collected, aligning platform income directly with owner cash flow. Value compounds through resident-retention discipline, turnover-days reduction, and technology-driven leasing automation.

Terms

Fund architecture

VehicleDelaware Limited Partnership
Term8 years (+ two 1-year extensions)
Preferred return8% preferred return
Carried interest20% carried interest above preferred
WaterfallAmerican waterfall with GP clawback
Minimum LP$1,000,000
AuditorPricewaterhouseCoopers LLP
Legal counselLePore Law Group
Target net IRR17%–22% net
Target assets

Where this fund concentrates

  • Class A and Class B multifamily community management
  • Purpose-built single-family rental and build-to-rent management
  • Scattered-site and small-portfolio residential management
  • Owner clients ranging from private investors to institutional funds
Operating discipline

The numbers we run to

Every managed property is held to weekly operating metrics. These are the disciplines that distinguish an institutional operator from a passive fee collector.

Resident retention

Renewal rate and lease-trade-out capture

Turnover days

Vacant-to-leased cycle time per community

Collections rate

On-time rent realization, weekly

Leasing velocity

Application-to-move-in conversion

Property management is the most undervalued operating layer in real estate. Run it like the business it is.
Alexandra Pohl, Founder and CEO

Speak with our investor relations team

For fund materials, capital account information, and partnership inquiries, reach UpManagement directly.

Contact Investor Relations