Trion Properties
Trion Properties is a Los Angeles-based, vertically integrated multifamily real estate investment sponsor founded in 2005. It acquires and renovates value-add apartment properties across 8 U.S. states, syndicating equity to a 1,500+ accredited investor base through private funds and deal-by-deal offerings with a $50,000 minimum.
- Company typePrivate
- Founded2005
- HeadquartersWest Hollywood, United States
- Headcount51–100
- GTM typeB2B
- OfferingServices
What Trion Properties does
Trion Properties, Inc. is a Los Angeles-based, privately-held multifamily real estate investment sponsor founded in 2005 by Max Sharkansky and Mitch Paskover. The firm acquires and renovates value-add multifamily properties in Western and Sunbelt U.S. markets, then syndicates the equity to accredited investors through a series of private Multifamily Opportunity Funds (currently Fund IV) and deal-by-deal offerings. As of the most recent disclosures, Trion has completed $1.8B in total acquisitions across 85 properties and 9,466 units in 8 states and 13 markets, with $1B+ in assets under management and a 1,500+ investor base. 2022 was a record year with $489M of acquisitions across 11 properties, including the firm's largest single deal to date (Edge 26 in Edgewater, CO at $108.75M).
The firm's central differentiator is a vertically integrated operating model in which acquisition, project management, construction, and property management are performed in-house, intended to control costs, timelines, and quality. Distribution is conducted through a dedicated Capital Markets function led by a Managing Director, supplemented by broker-dealer and RIA channels. Revenue is generated from a layered fee structure: 1% management fee on average daily capital invested, 1% acquisition fee, 5% construction management fee, and the greater of $4,000/month or 4% of gross revenues for property management, with carry on fund returns and principals co-investing the lesser of 5% of aggregate capital commitments or $2.5M per fund.
The business is founder-led and growth-oriented. Trion is currently raising its largest fund to date (Multifamily Opportunity Fund IV, targeting $100M), expanded into the Southeast in 2021 and Texas in 2023, has formed institutional capital partnerships (e.g., PCCP joint venture), and is building out a dedicated asset management function. Reported performance includes a 25%+ average gross IRR since inception and a 30.90% project-level IRR on 2022 dispositions, against a target IRR of 12-15% for the current fund. The company is privately held, does not publish financial statements, and does not disclose revenue.
Trion Properties firmographics
Firmographics- Name
- Trion Properties
- Legal name
- Trion Properties, Inc.
- Website
- https://trionproperties.com
- Company type
- Private
- Founded year
- 2005
- Operating status
- Operating
- Headcount range
- 51–100 employees
- Short description
- Trion Properties is a Los Angeles-based, vertically integrated multifamily real estate investment sponsor founded in 2005. It acquires and renovates value-add apartment properties across 8 U.S. states, syndicating equity to a 1,500+ accredited investor base through private funds and deal-by-deal offerings with a $50,000 minimum.
- Ownership category
- akta.pro rank
Trion Properties industry classification
Industry- Product category
- Real Estate Investment Management
- NAICS
- Trusts, Estates, and Agency Accounts (52592)
- SIC
- Real Estate Dealers (For Their Own Account) (6532)
- akta.pro primary industry
- Estate Planning, Trust Structuring & Governance (FSAAADAF)
Keywords
Where Trion Properties is headquartered
LocationHeadquarters
- HQ city
- West Hollywood
- HQ country
- United States
- HQ region
- North America
Offices2 records
Markets served
Trion Properties business model
Business model- GTM type
- B2B
- Offering type
- Services
- Cost components
- Personnel, Operations, Marketing or Sales, Infrastructure, Technology or R&D
Revenue model
- Fund Management and Syndication: Trion Properties generates revenue through management fees (1% of average daily capital invested), acquisition fees (1% of purchase price), construction management fees (5%), and property management fees (greater of $4,000/month or 4% of gross revenues). The firm co-invests alongside limited partners, typically contributing 10%+ of equity, and earns carried interest on fund returns.
- Capital Syndications: Trion syndicates multifamily property acquisitions to accredited investors, pooling capital to purchase assets and sharing profits through the sponsor structure. Investors contribute equity capital while Trion manages all aspects of acquisition, renovation, and eventual sale.
Pricing tiers
| Model | Billing | Price |
|---|---|---|
| Subscription | Annual | Multifamily Opportunity Fund IV |
| Subscription | Multi-year contract | Deal-by-Deal Investments |
Go-to-market motion1 record
Distribution channels3 records
Marketing channels10 records
Trion Properties product offering
Product offeringCore offering
Trion Properties is a vertically integrated multifamily real estate investment sponsor that acquires, renovates, and manages value-add apartment properties and syndicates those acquisitions to accredited investors via private funds (Multifamily Opportunity Funds I–IV) and deal-by-deal investments. The firm keeps acquisition, project/construction management, and property management in-house to control costs and timelines, targets 12-15% IRR / 1.5x-2.0x equity multiples, and operates across Western U.S. and Sunbelt markets with $50,000 minimum commitments.
Product overview
Trion Properties operates as a vertically integrated multifamily real estate investment sponsor offering a suite of private equity investment vehicles and investor tools. The core offering centers on the Multifamily Opportunity Fund IV, a $100 million targeted fund (with prior Funds I, II, and III already executed), through which the firm acquires, renovates, and manages value-add multifamily properties across Western and Sunbelt states, syndicating these opportunities to accredited investors. The platform is supplemented by an Investment Calculator tool for prospective investors to model projected returns. The vertically integrated model keeps all functions—in-house including project management, construction, and property management—to control costs and optimize returns.
Differentiator
Problem solved
Functional benefit
Brands
- Multifamily Opportunity Fund IV: Current investment fund targeting $100 million capital raise to acquire 12-18 properties in Western states and Sunbelt regions over 6-8 years, targeting 12-15% IRR and 1.5-2.0x equity multiple.
Products and services
- Multifamily Opportunity Fund IV A private equity real estate fund that acquires, renovates, and manages value-add multifamily properties and offers accredited investors diversified passive exposure with a $50,000 minimum investment, 1% management fee, quarterly cash distributions, and sponsor carried interest.
- Multifamily Deal-by-Deal Syndication Investments Individual property-level real estate syndications of specific multifamily acquisitions for accredited investors who prefer concentrated single-deal exposure over diversified fund participation, with returns projected based on the specific deal underwriting.
- Vertically Integrated Multifamily Acquisition, Renovation, and Property Management Service End-to-end in-house service covering acquisition, renovation, construction, and ongoing property management of multifamily real estate, delivered through Trion's own personnel to control costs, timelines, and quality on behalf of fund and syndication investors.
Quantifiable outcome
- 25%+ average gross IRR generated since inception in 2005
- +3 more outcomes
Companies that use Trion Properties
Customer profileNamed customers1 record
Segments1 record
Ideal customer profiles1 record
Trion Properties technology and API
TechnologyTechnology focussed No
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Feature1 record
Trion Properties partnerships and signals
Strategic signalPartnerships
Two partnerships are on record, tiered minor and core.
- FPA MultifamilyminorFPA Multifamily acquired Fox Meadows, a 95-unit multifamily community in Tualatin, Oregon, from Trion Properties for $19.35 million. This was a disposition transaction where Trion sold the property after a two-year hold period.
- Kidder MathewscoreKidder Mathews represented both Trion Properties and the buyer FPA Multifamily in the sale of Fox Meadows in Tualatin, Oregon, for $19.35 million. Tyler Linn, Jordan Carter, and Clay Newton handled the transaction.
Scale indicators12 records
Recent moves6 records
Expansion highlights5 records
Trion Properties competitors and assessment
Company assessmentDirect peers
- CrowdStreet: Online commercial real estate investment platform connecting accredited investors with individual sponsors and funds, including multifamily offerings — directly comparable to Trion's syndicated investment model.
- Fundrise: Real estate investment platform operating eREITs and interval funds that pool individual investor capital into multifamily and other commercial real estate, with a comparable fund-based structure though a non-accredited-inclusive investor base.
- EquityMultiple: Accredited-investor real estate platform offering both individual deal syndications and diversified funds, closely matching Trion's accredited-investor distribution and fund-versus-deal-by-deal offering structure.
- Origin Investments: Chicago-based private equity real estate firm that syndicates multifamily and other commercial real estate deals to accredited investors, with a similar sponsor-led model and fund series structure.
- RealtyMogul: Real estate crowdfunding platform serving accredited investors with multifamily and commercial offerings through both individual deals and pooled funds — directly comparable to Trion's distribution approach.
Broad incumbents
- KKR Real Estate: Global private equity real estate platform with multifamily strategies; competes at the institutional scale that Trion ultimately aspires to reach and shares the same accredited-investor-adjacent capital base.
- Ares Real Estate Group: Large diversified real estate investment manager with U.S. multifamily strategies; comparable at the asset-class and value-add strategy level even though its scale and LP base are institutional.
- Starwood Capital Group: Major private real estate investment firm with significant multifamily exposure across U.S. Sunbelt markets; while substantially larger and institutionally focused, it competes for similar value-add multifamily opportunities in Trion's geographies.
- Blackstone Real Estate: World's largest real estate private equity platform with major multifamily holdings; competes for institutional capital and large multifamily portfolios, representing a broad-incumbent threat to fundraising and acquisitions.
Emerging players
- BlueRock Real Estate: Smaller multifamily sponsor syndicating individual deals and fund vehicles to accredited investors; operates in overlapping Sunbelt and Western markets with a similar value-add strategy and lower-scale profile.
Market position
Strengths5 records
Weaknesses5 records
Competitive moat4 records
Key risks6 records
Key highlights7 records
Customer concentration
Trion Properties social profiles
Digital presenceTrion Properties financial estimates
Financial estimateRevenue estimate
Valuation estimate
Trion Properties leadership team
Management profileNumber of profiles
Profiles10 records
Trion Properties funding detail
Funding detailFunding overview
Funding rounds
Investors
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
Trion Properties M&A and investment
M&A and investmentM&A
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about Trion Properties
What does Trion Properties do?
Trion Properties is a vertically integrated multifamily real estate investment sponsor that acquires, renovates, and manages value-add apartment properties and syndicates those acquisitions to accredited investors via private funds (Multifamily Opportunity Funds I–IV) and deal-by-deal investments. The firm keeps acquisition, project/construction management, and property management in-house to control costs and timelines, targets 12-15% IRR / 1.5x-2.0x equity multiples, and operates across Western U.S. and Sunbelt markets with $50,000 minimum commitments.
Is Trion Properties a public or private company?
Trion Properties is a private company. It is classified as founder individual operated bootstrapped and is currently operating.
When was Trion Properties founded?
Trion Properties was founded in 2005. It employs 51 to 100 people.
Where is Trion Properties based?
Trion Properties is headquartered in West Hollywood, United States, in the North America region.
How does Trion Properties make money?
Two revenue lines are on record. Fund Management and Syndication is the primary driver. The others are capital Syndications.
Who are Trion Properties's main competitors?
Direct peers on record are CrowdStreet, Fundrise, EquityMultiple, Origin Investments and RealtyMogul. Broad incumbents are KKR Real Estate, Ares Real Estate Group, Starwood Capital Group and Blackstone Real Estate. BlueRock Real Estate is listed as an emerging player.
Does Trion Properties have an API?
No public API is recorded for Trion Properties.
What industry is Trion Properties in?
Trion Properties's product category is Real Estate Investment Management. Its primary akta.pro industry code is FSAAADAF, Estate Planning, Trust Structuring & Governance. Its NAICS code is 52592 and its SIC code is 6532.