Spencer Gray

President, Gray Capital, LLC

In his role as President, Spencer develops, leads and executes investment strategy, performs underwriting and due diligence of all assets in the Gray Capital portfolio, and interfaces with investors. Since founding Gray Capital, LLC Spencer has been involved in over $700 Million in transactions. Spencer is also President and CEO of Gray Properties, LLC, a commercial real estate focused family office.

As an entrepreneur, Spencer, has founded several successful businesses in the fields of media distribution, real estate and agriculture before turning his passion for investing in commercial real estate into what is now Gray Capital, LLC . Spencer has extensive experience in a variety of real estate investing strategies since buying his first rental property in 2006. Spencer is an avid outdoorsman who enjoys rock climbing, fly fishing, archery and free diving. He is also a father to two girls. 

Alex Gray

Vice President, Gray Capital, LLC

Alex Gray is a seasoned real estate executive and entrepreneur with nearly a decade of experience building businesses, managing projects, and delivering results. Coming from a creative background, with a focus in management, she brings a unique perspective to real estate investing and managing projects.

After co-founding and selling one of the nation’s largest hop brokerage firms (Sugar Creek Hops, LLC), she went on to co-found Gray Capital along with her husband, and partner, Spencer Gray. Alex plays a key role in setting the course and tenure in the Gray Capital strategy, as well as assist in tailoring an overall holistic approach to the investor experience. Alex graduated Parson’s The New School for Design with a BBA in Design Management. She is also a professional artist and mother to two girls.

Jay Reeder

Vice President of Acquisitions and Asset Management, Gray Capital, LLC

Jay Reeder got his start in multifamily housing doing market research for a student housing developer, and from there, Jay then made the transition into the world of asset management. Here, he has been responsible for acquisitions, dispositions, refinances, and portfolio management across an array of asset classes including Market Rate, Section 8, and Tax Credit. Outside of the professional setting, Jay enjoys serving the Indiana high school lacrosse community, experiencing various sporting events, and woodworking. Jay and his wife, Kelsey, live in Indianapolis with their son.

Matt Bastnagel

Director of Communications and Marketing, Gray Capital, LLC

Matt Bastnagel serves as the Director of Communications and Marketing at Gray Capital, LLC. He has a background in academic writing and research in addition to his business-to-business and business-to-consumer marketing experience. His work with Gray Capital has allowed him to apply his background in writing and research in sharing the latest reports and the important concepts to investors and others who are interested in multifamily and commercial real estate investment.

Matt was born and raised in Indianapolis, attended college and graduate school at Purdue University and the University of Chicago, and has done marketing work in the food industry, manufacturing, retail, and nonprofit sectors. He lives in Indianapolis with his wife, his twin six-year-old sons, and his eleven-year-old dog.


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Gray Capital LLC
6255 Carrollton Avenue #301075
Indianapolis, IN 46230



Phone: +1 317.203.9457‬


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