Southern California · Value-Add Multifamily

Institutional Real Estate
Built for Long-Term Partners

TREP is a vertically integrated platform that acquires workforce housing in Southern California at below-replacement cost targeting mid-teens returns to investors.

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$5M+
Assets Under Management
20+
Units Closed / Under Contract
$2B+
Transaction Experience
14–18%
Target LP IRR
Our Approach

Institutional Discipline.
Entrepreneurial Execution.

TREP combines over a decade of institutional real estate experience with the speed and conviction of an owner-operator. We acquire, improve, and manage workforce housing in supply-constrained Southern California submarkets — where the fundamentals are strongest and the opportunity is most compelling.

We co-invest alongside our partners in every deal. Our incentives are fully aligned — we only win when you win.

I
Risk-Adjusted Returns
Our fiduciary responsibility to investors and partners drives every underwriting decision we make. We protect the downside before we model the upside.
II
Institutional Underwriting
Every acquisition is evaluated through the same rigorous framework applied at the institutional level — market fundamentals, basis discipline, and stress-tested assumptions.
III
True Alignment
We are a vertically integrated platform with affiliated third-party property management, construction, and financing partners — delivering full cost control and complete alignment across every asset we own.
Edgar De La Torre
Edgar De La Torre
Founder & Managing Principal
Investment Strategy

How We Deploy Capital

We focus on a specific opportunity — workforce multifamily in coastal Southern California — where institutional experience, vertical integration, and basis discipline create durable, asymmetric returns.

🏢
Acquisitions
Institutional underwriting and asset management with deep relationships across the Southern California brokerage and ownership community. We evaluate hundreds of opportunities to find the few that meet our criteria.
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Property Management
Affiliated firm owned by the sponsor. Institutional systems integrated from day one of every acquisition — aligning operational incentives with investor outcomes.
🔨
Construction Management
Affiliated licensed general contractor — CSLB #1136186 — providing cost-plus renovation services across our portfolio. GL insured at $2M aggregate. Renovation cost discipline is core to our value-add thesis.
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Debt Advisory
Affiliated capital advisory practice providing vertically integrated alignment on purchase and refinance debt execution. We source and structure debt as part of the overall investment strategy — not as a separate function.
Why Southern California — Why Now
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7.0–7.4% in-place cap rates on renovated assets in select Long Beach corridors — a spread not seen in years
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All-in basis ~$200K/unit vs. ~$350K+ replacement cost — immediate and durable downside protection
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AB 1482 markets only — no municipal RSO, preserving CPI+5% (max 10%) annual rent growth runway
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Renter-heavy submarket — Southern California ranks among the least affordable housing markets in the nation, driving structural and durable demand for workforce rental housing. 60.8% renter population with a $2,169/month rent-vs-own affordability gap reinforces the long-term rental thesis
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Distressed debt cycle building — SoCal banks actively expanding special assets teams, creating off-market opportunity
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5–6% day-one cash yield net of fees to LPs — immediate income with multiple value-creation levers available
Acquisition Criteria

What We Look For

Asset Type
20+ Unit Multifamily
Value-add or special situations
Geography
Long Beach · Greater LA · Inland Empire
AB 1482 markets — no RSO
Price Range
$5M – $20M
Below replacement cost basis
Track Record

Active Portfolio

Total AUM
$5M+
435 W 11th Street Long Beach
Deal I · Closed May 2026
435 W. 11th Street
Long Beach, CA
Units
9
Basis / Unit
~$230K
Going-In Cap
7.4%
Target LP IRR
14–16%
939 Pacific Avenue Long Beach
Deal II · Closing September 2026
939 Pacific Avenue
Long Beach, CA
Units
13
Basis / Unit
~$212K
Going-In Cap
7.1%
Target LP IRR
14–16%
Leadership

The Team

Edgar De La Torre
Founder & Managing Principal

Edgar De La Torre is Founder and Managing Principal of Tower Real Estate Partners ("TREP"), where he is responsible for firm strategy, acquisitions, asset management, and investment execution. Edgar brings over a decade of institutional real estate experience and has been involved in approximately $2 billion of multifamily, mixed-use, and commercial real estate transactions across major U.S. markets.

Prior to founding TREP, Edgar was a member of the investment team at McCourt Partners, where he was hired to help scale the platform and, over his tenure, contributed to the firm's growth from approximately $1 billion to $15 billion in development value. His responsibilities included sourcing and underwriting acquisitions, structuring joint-venture partnerships, executing business plans, and overseeing portfolios across multifamily, office, retail, industrial, and large-scale mixed-use developments. During this time, Edgar was involved in the Halo Vista mixed-use project in Phoenix, which received the 2025 CoStar Impact Award for Acquisition of the Year.

Previously, Edgar worked at Silverstein Properties, where he led the $173 million acquisition of 55 Broad Street, the firm's first office-to-residential conversion, which has since gone full-cycle. Prior to Silverstein, Edgar was at JADE Enterprises, where he executed 45 transactions for a combined $500 million volume. Edgar began his career in Wells Fargo's Institutional Real Estate Banking Group.

Edgar earned a Master of Science in Real Estate Development from Columbia University and a Bachelor of Science in Business Real Estate Finance from the University of Southern California. Edgar co-invests alongside limited partners in every TREP acquisition, ensuring alignment of interests and disciplined execution.

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$2B+ transaction experience across 12+ years in institutional real estate
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McCourt Partners — 4th professional hired; firm grew from $1B to $15B AUM with 35 professionals
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Silverstein Properties — led the $173M acquisition of 55 Broad Street, firm's first office-to-residential conversion
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JADE Enterprises — 45 transactions / $500M combined volume
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Deep family office and private equity experience across institutional and private capital platforms
Process

How It Works

01
Initial Introduction
We begin with a conversation to understand your investment goals, capital profile, and target exposure. Schedule a 15-minute intro call directly through our booking link.
02
Opportunity Alignment
Qualified investors receive access to select opportunities aligned with their return criteria and risk profile. We share deal-specific materials including the full offering memorandum and underwriting model.
03
Investment Review
We walk through the investment structure, underwriting assumptions, and business plan. Every question answered before you commit a dollar.
04
Ongoing Reporting
Investors receive quarterly reporting, regular updates, and direct access to Edgar throughout the lifecycle of each investment.
Common Questions

Frequently Asked Questions

Who does TREP work with? ▾
TREP partners with accredited investors — high-net-worth individuals, family offices, and institutional capital — seeking passive exposure to Southern California multifamily real estate with institutional underwriting and aligned sponsorship.
What is the minimum investment? ▾
The minimum investment is $100,000 per deal. Offerings are structured under Rule 506(c) of Regulation D, available to verified accredited investors only.
What returns can investors expect? ▾
Our deals target a 14–18% levered IRR to LP investors with an 8% cumulative preferred return and a 70/30 LP/GP split above the preferred return. Day-one cash yields of 5–6% net of fees are typical at our current entry pricing. Past performance is not indicative of future results.
Does TREP co-invest in deals? ▾
Yes — we co-invest alongside our LP investors in every deal. We believe the most durable investor relationships are built on shared risk and shared upside. Our alignment is structural, not just stated.
What markets does TREP focus on? ▾
We focus exclusively on Southern California — Long Beach, Greater Los Angeles, and the Inland Empire. We target markets governed by AB 1482 only, avoiding properties subject to more restrictive local rent control ordinances. This preserves meaningful annual rent growth potential while maintaining the basis discipline our return targets require.
What reporting do investors receive? ▾
Investors receive quarterly financial reporting, asset management updates, and direct access to Edgar for any questions throughout the hold period. We believe communication is as important as performance.
Investor Access

Request Investment Overview

Access current and upcoming investment opportunities. This process is designed for accredited investors seeking long-term Southern California real estate exposure with institutional-quality sponsorship.

or reach out directly
📞(714) 414-2588 ✉[email protected] 📅Schedule 15-Min Intro
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For informational purposes only. Not an offer to sell or solicitation to buy securities. Past performance is not indicative of future results. Investments involve risk including loss of principal. © 2026 Tower Real Estate Partners. All Rights Reserved.