Institutional-Grade Multifamily Investments

Curated San Diego Development Opportunities for Sophisticated Investors

EXPLORE INVESTMENTS
30+
Years of Experience
$1B+
Transaction Experience
100+
Projects Completed
80
Years Combined Experience

About Boulevard Station

San Diego-based real estate development and investment firm specializing in ground-up multifamily and urban infill development.

Boulevard Station is a San Diego based real estate development and investment firm specializing in ground-up multifamily and urban infill development.

With over $1 billion in collective transaction experience, our principals bring decades of expertise in design, construction, and capital markets.

Our vertically integrated structure and entrepreneurial approach allow us to oversee every phase of the development process, from site acquisition and entitlement to construction and asset management.

This combination allows us to act decisively, adapt to opportunities, and maintain control throughout execution, managing costs, reducing risk, and maximizing returns for our investors.

We are committed to delivering sustainable, high-quality infill projects that create long-term value while strengthening the communities we serve throughout San Diego.

Our Approach

We take a disciplined, research-driven approach to identifying and executing multifamily opportunities in San Diego's most supply-constrained markets.

1

Site Selection & Underwriting

We focus on urban infill locations with strong demand fundamentals, limited new supply, and clear value-creation potential. Every opportunity is stress-tested against multiple market scenarios before we commit capital.

2

Entitlements & Design

Our team manages the entitlement process directly, reducing timeline risk and controlling costs from the earliest stages of development.

3

Construction & Execution

Our vertically integrated structure gives us direct oversight of construction — eliminating the gap between ownership and execution that creates cost overruns and delays on most projects.

4

Asset Management

We remain actively involved through lease-up and stabilization, managing the asset to maximize returns and protect investor capital throughout the hold period.

How to Invest with Us

We work with a select group of accredited investors who share our long-term perspective on value creation in San Diego's multifamily market.

1

Inquiry

Submit your investment criteria and contact information through our secure form. A member of our team will follow up directly.

2

Introduction

We schedule a call to understand your goals, answer questions, and determine mutual fit.

3

Due Diligence

Qualified investors receive access to our secure portal with full offering materials, financials, and project documentation.

4

Investment

Complete subscription documents and fund your investment through our streamlined process.

All investments are open to accredited investors only.

Investment Opportunities

Each investment is carefully selected to target exceptional returns while managing risk through thorough due diligence and strategic execution. All projected returns are targets only and not guaranteed.

RAISING CAPITAL

2827 Broadway Development

Golden Hill, San Diego

2827 Broadway Development Rendering
Property Type Multifamily Ground-Up
Units 57
Investment Type Development Equity
Hold Period 3 Years
20% Target IRR
FULLY SUBSCRIBED

2827 Broadway Entitlement

Golden Hill, San Diego

2827 Broadway Site
Property Type Entitlement Capital
Purpose Site Control & Approvals
Status Entitlements Secured
Next Phase Development Raise
FULLY SUBSCRIBED

Onyx on Park

University Heights, San Diego

Onyx on Park Property
Property Type Multifamily Value-Add
Units 71
Investment Type Preferred Equity
Status Performing
12% Targeted Annual Preferred Return

Investor Knowledge Center

Educational resources to help you make informed investment decisions

📊

Multifamily Syndication 101

Understanding how real estate partnerships work, capital stack structure, and your role as a limited partner investor.

What You'll Learn:

  • Partnership Structure: General Partner (GP) manages operations while Limited Partners (LP) provide capital
  • Capital Stack: Typical 70/30 LP/GP equity split with senior debt from lenders
  • Return Mechanics: Preferred returns (usually 6-8%), then profit splits per waterfall
  • Investment Timeline: Typical hold period of 3-7 years from acquisition to exit
Request Full Guide
🏙️

San Diego Market Report

Market fundamentals, supply constraints, demographic trends, and regulatory advantages driving multifamily returns.

Market Highlights:

  • Supply Constraints: Severe housing shortage with strict zoning limiting new development
  • Demand Drivers: Strong job growth, tech sector expansion, limited housing inventory
  • Rent Growth: Consistent 4-6% annual growth driven by supply/demand imbalance
  • Regulatory Tailwinds: Complete Communities Program incentivizes infill development
Request Full Report
💰

Understanding Real Estate Returns

IRR, cash-on-cash returns, equity multiples, and preferred returns explained with real-world examples.

Return Metrics Explained:

  • IRR (Internal Rate of Return): Time-weighted return accounting for timing of cash flows
  • Cash-on-Cash: Annual cash flow divided by initial equity investment
  • Equity Multiple: Total cash returned divided by initial investment (e.g., 2.0x = double your money)
  • Preferred Return: Minimum return paid to LPs before GP participates in profits
Request Full Guide
🏗️

Development Risk & Mitigation

How we manage construction, entitlement, market timing, and financing risks in ground-up development.

Risk Management Strategies:

  • Entitlement Risk: We only acquire sites with approved or near-approved entitlements
  • Construction Risk: Fixed-price contracts with completion guarantees from bonded GCs
  • Market Timing: Focus on supply-constrained markets with durable demand fundamentals
  • Financing Risk: Conservative leverage (60-65% LTC) with locked interest rates
Request Full Guide
📈

Tax Benefits of Real Estate

Depreciation, cost segregation, 1031 exchanges, and other tax advantages of multifamily investment.

Key Tax Advantages:

  • Depreciation: Non-cash deduction that can offset taxable income (27.5-year schedule)
  • Cost Segregation: Accelerates depreciation on certain building components
  • 1031 Exchanges: Defer capital gains by rolling proceeds into another property
  • Passive Losses: May offset other passive income (consult your CPA)
Request Full Guide
❓

Frequently Asked Questions

Common questions about minimum investment, timeline, distributions, investor communication, and exit strategy.

Common Questions:

  • Minimum Investment: Typically $50,000-$100,000 per opportunity
  • Hold Period: Target 3-7 years depending on business plan and market conditions
  • Distributions: Quarterly preferred returns during hold, profit split at exit
  • Communication: Monthly updates, quarterly financials, annual investor meetings
Contact Us

Request Information

Connect with our investment team to learn more about current opportunities.