Multifamily Asset Management Case Study: The Unicorn Deal (Pino, Leavenworth KS)

What does a 200% total return in two years actually look like from the inside?

In this asset management case study, Think Multifamily's Brent Kawakami breaks down Pino — a 152-unit Class C property in Leavenworth, Kansas that closed on February 28, 2020, just weeks before the world shut down. It was a unicorn deal. But unicorns have identifiable ingredients, and this episode names every one of them — including the parts that created real risk and the things the team would do differently.

You'll hear:

- Why a $43K/door buy price and limited housing supply created the foundation for an outsized exit

- What a church-owned "mom-and-pop" property looks like from an asset management perspective — and why the professional management upgrade alone moves the needle

- How the team managed three simultaneous unknowns: new market, new lead operator, new PM company

- What happened when the PM found out about the sale after the listing agreement was already signed

- Why the on-site community manager left during the sale process — and the retention bonus structure that helps prevent it

This is the real, unfiltered side of apartment investing. Ready to learn in person? Join us at our next live event at thinkmultifamily.com/event.

Subscribe to the Think Multifamily Podcast on Apple Podcasts and Spotify.