Gray Capital is a syndicator and vertically-integrated owner and operator of multifamily apartments. We are dedicated to executing exceptional real estate investment opportunities for family offices, RIAs, and individual investors.

Villas on Fir

Villas on Fir is a 290-unit, class-A apartment property built in 2018 and located in the growing and affluent suburb of Granger, IN (South Bend/Mishawaka MSA).

Echo Park

Echo Park is a 154-unit, class-A apartment property built in 2016 and located in Bloomington, Indiana, home to Indiana University.

Club Meridian

Club Meridian is a 406-unit apartment community built in 1989 and located in Okemos, Michigan, an affluent and growing suburb of Lansing.

Forest Ridge

Forest Ridge Apartments is a Class B+ apartment community located in Bloomington, Indiana and built in three phases between 2005 and 2008.

River Club

River Club is a 444-unit, class-B apartment community built in 1981 and located in Evansville, Indiana.

Sycamore Terrace

Sycamore Terrace is a 250-unit, class-A apartment community built in 2011 and located in Terre Haute, Indiana.

Abbey Court

Full-Cycle Project
Net IRR: 38%
Equity Multiple: 3.44x


Suncrest Apartments is a 140-unit, B-class multifamily property built in 1986 and located on the west side of Indianapolis in close proximity to the Indianapolis Airport sub-market.

Stonybrook Commons

Stonybrook Commons is a 122-unit B apartment community located in Indianapolis, IN and built in 1990. 


Aberdeen apartments is a modern 354-unit property built in 2002 and located in Camby, Indiana.

Autumn Trails

Autumn Trails is a 165-unit apartment property built in 1987 and located in Indianapolis, IN.

Carmel Woods

Full-Cycle Project
Net IRR: 33%
Equity Multiple: 2.54x

Fountain Parc

Full-Cycle Project
Net IRR: 31%
Equity Multiple: 2.39x

Fox Brook

Full-Cycle Project
Net IRR: 23%
Equity Multiple: 1.70x

Gateway Crossing

Gateway Crossing is a 156-unit apartment property built in 2005 and located in a suburb east of Indianapolis, IN.

Greenfield Crossing

Greenfield Crossing is a 272-unit apartment community located in Greenfield, IN and built in 1997.

Lexington Green and Villa Capri

Full-Cycle Project
Net IRR: 26%
Equity Multiple: 2.33x

Mad River

Mad River is a 302-unit apartment community built in 1983 and located in Dayton, OH.

Oakdale Square

Oakdale Square is a 200-unit, Class B apartment community located in Bloomington, IN and built in 1972.

Park 88

Built in 2017, Park 88 is a
160-unit core-plus acquisition
in growing suburban Des Moines.


Gray Capital invests alongside our partners to preserve wealth and
secure financial freedom through cash-flowing multifamily apartments.

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