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.

$5M
Assets Under Management
22
Units Closed
$2B+
Transaction Experience
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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, disciplined basis selection, and deep relationships across the Southern California brokerage and ownership community. We evaluate opportunities selectively and pursue assets that fit our investment criteria.
📊
Asset Management
Active business-plan oversight from acquisition through disposition, including budgeting, performance tracking, capital planning, investor reporting, and coordination across property management and construction.
🔑
Property Management
Affiliated property management capabilities align day-to-day operations with ownership objectives, with a focus on collections, leasing, expense control, resident experience, and timely execution of the asset strategy.
🔨
Construction Management
Affiliated licensed general contractor — CSLB #1136186 — provides renovation and construction management across the portfolio, supporting tighter cost control, accountability, and execution of value-add initiatives.
Why Southern California — Why Now
6–7% in-place cap rates on renovated SoCal workforce housing assets — in markets that historically trade at 5% or below, representing a compelling entry point not seen in years
All-in basis ~$200K/unit vs. ~$350K+ replacement cost — immediate and durable downside protection
AB 1482 markets only — no municipal RSO, preserving CPI+5% (max 10%) annual rent growth runway
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
Distressed debt cycle building — SoCal banks actively expanding special assets teams, creating off-market opportunity. TREP advises lenders on problem loan workouts and resolution strategies, positioning us at the front of proprietary deal flow
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
30+ Unit Multifamily
Value-add or special situations
Geography
Long Beach · Greater LA · Inland Empire
AB 1482 markets — no RSO
Price Range
$10M – $15M
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 · Closed 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.

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

Institutional Real Estate Advisory & Execution

TREP provides institutional-quality advisory and execution support across commercial real estate and development. We partner with owners, operators, developers, and investors as an extension of their team — bringing principal-level underwriting, transaction execution, asset management, and strategic decision support without the need to build a full in-house investment platform.

📐
Acquisition & Investment Support
Outsourced investment-team capabilities spanning underwriting, financial modeling, deal screening, valuation, capital structure analysis, scenario testing, investment committee materials, and acquisition strategy across commercial real estate and development opportunities.
🤝
Transaction Execution
Principal-level support throughout the transaction lifecycle, including diligence, deal structuring, financing coordination, investor and lender materials, closing analysis, and execution management from initial evaluation through capitalization and close.
📈
Fractional CIO & Asset Management
Ongoing strategic partnership for owners and investment platforms requiring senior-level real estate oversight, including portfolio strategy, business-plan execution, financial performance reviews, budgeting, property management oversight, capital planning, investor and lender reporting, and special situations.
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