Asset Manager

Updated:

CAPREIT

CAPREIT is a vertically integrated owner-operator of multifamily communities across the US, founded in 1993. The firm acquires, manages, repositions, and...

CAPREIT logo

CAPREIT

CAPREIT is a vertically integrated owner-operator of multifamily communities across the US, founded in 1993. The firm acquires, manages, repositions, and renovates apartment assets, combining institutional discipline with hands-on operational expertise. It is led by CEO Andrew Kadish and President Jennifer Kadish Cassell.

General information

Firm type

Asset Manager

Year founded

1993

Location

Region

North America

Country

United States

City

North Bethesda

Corporate office

King of Prussia, PA, United States

Additional offices

Dallas, TX

Principals

Richard L. Kadish

Founder and Chairman

Andrew Kadish

CEO

Sector focus

Real EstateMultifamily

Frequently asked questions

Who runs investment decisions at CAPREIT?

Andrew Kadish, the founder's son, serves as CEO and leads the firm's day-to-day investment and asset management decisions. Richard Kadish, the founder, remains involved as Chairman. The firm operates with a lean, family-led governance structure and does not maintain a separate investment committee with external members.

How does CAPREIT source its acquisitions?

CAPREIT relies on a combination of broker relationships, repeat sellers, and direct outreach in its target markets. The firm's permanent capital structure and demonstrated ability to close quickly, often using agency debt, gives it credibility with off-market sellers who value certainty over the highest nominal bid. CAPREIT has completed numerous transactions without a formal marketing process.

Does CAPREIT operate as a fund manager or a long-term owner?

CAPREIT is a permanent capital aggregator, not a fund manager. It does not raise closed-end funds with fixed liquidation dates and does not charge fund-level management fees. Each property is held in a separate entity and is underwritten for indefinite cash-flow generation, with sales occurring only opportunistically when market conditions or asset performance warrants a disposal.

What is CAPREIT's typical financing structure?

CAPREIT predominantly uses fixed-rate agency debt from Fannie Mae and Freddie Mac, locking in long-term amortizing mortgages at the time of each acquisition. The firm does not use short-term bridge debt as a primary acquisition tool and generally avoids floating-rate exposure, reflecting its indefinite holding structure and cash-flow-oriented underwriting.

How has leadership transition been handled at CAPREIT?

Andrew Kadish succeeded his father Richard as CEO in a gradual, multi-year transition that prioritized operational continuity. The firm has not disclosed a formal succession plan beyond the current leadership structure, but the transition has been completed without external hires into senior decision-making roles, preserving the firm's family-governance model.

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