Dallas–Fort Worth  ·  Est. 2017

Disciplined capital,
built in North Texas.

We buy overlooked industrial buildings, build neighborhoods people are proud to live in, and entitle the land they both stand on. All of it in the fastest-growing metro in America, within an hour of our office.

40+
Transactions since 2018
9 years
Operating in DFW
Zero
Realized investor losses
~10 mo
Average hold, industrial
What we do

Two lanes. One discipline.

Industrial value-add for capital that needs to recycle. Ground-up development for capital with patience. Both underwritten the same way, sourced through the same relationships, run by the same team.

Photo: renovated flex-industrial, Dallas

Industrial Value-Add

Class B and C industrial and flex buildings in infill DFW sub-markets: bought below replacement cost, repositioned in weeks, and sold to the owner-users for whom buying beats leasing. Short holds, so capital recycles.

Read more →
Photo: build-to-rent construction, Tarrant County

Ground-Up Development

Build-to-rent communities, master-planned land, and strategic entitlement in North Texas growth corridors. Patient land basis, conservative leverage, and value built to compound for years.

Read more →
How we work

We source. We vet. We structure. We build.

1

Source

Two decades of DFW brokerage relationships surface deals before they're marketed. In a non-disclosure state, knowing real prices is a real edge.

2

Vet

Every deal is priced against our own comp database and exit-pricing model, built in-house by our data team, then argued over by an investment committee that says no far more than yes.

3

Structure

Long-term capital partnerships let us close like a cash buyer and fund full renovations from day one. Sellers value the speed; investors value the certainty.

4

Build

Our own construction management team executes renovations in as little as 30 days, because every month a building sits idle is a month of someone's capital asleep.

Inside 3033 Royal Lane after renovation · Irving, Texas
Our why

Investing in real estate and in people to uncover and unlock the incredible value within them, so that value is realized, wealth is multiplied, and communities flourish.

The work

The work in motion.

A few of the projects that show how we operate, from short-cycle industrial turns to a neighborhood of roughly 200 homes under development.

Photo: Royal Lane, after renovation
Realized · 2026

Royal Lane II

DALLAS, TEXAS · INDUSTRIAL VALUE-ADD

An overlooked industrial asset acquired through our Phoenix Fund, renovated within 30 days of closing, and sold in June 2026. The model, working exactly as drawn.

Photo: Digital Drive, Richardson
Realized · 2025

Digital Drive

RICHARDSON, TEXAS · INDUSTRIAL REPOSITIONING

The largest deal of the Phoenix Fund's second portfolio, converted to an industrial condominium regime and sold unit by unit to the owner-users who wanted it most.

Photo: Cibolo Hills site, North Fort Worth
In Development

The Cottages at Cibolo Hills

NORTH FORT WORTH, TEXAS · BUILD-TO-RENT

A build-to-rent community of approximately 200 homes rising in the Alliance growth corridor of North Fort Worth. The first project of the BBE Keystone Fund.

Alignment

Our capital works beside yours.

We invest in what we offer

BBE commits its own capital to the vehicles we sponsor. When we ask a partner to trust an underwriting, we've already trusted it first. And the number we watch is the simplest one: dollars returned against dollars deployed.

We report like we'd want to be reported to

Quarterly financials and a letter that says what actually happened, delivered through a modern investor portal instead of a shoebox of PDFs.

We do the work ourselves

Sourcing, underwriting, construction management, and asset management live under one roof. Fewer handoffs, fewer surprises, faster decisions.

We'd rather pass than stretch

Our track record is built as much on the deals we didn't do. Discipline is boring right up until it's the only thing that matters.

Why here

The best market in America happens to be home.

We didn't choose Dallas–Fort Worth from a spreadsheet. We live here. The spreadsheet agrees anyway.

DFW
100+

Corporate relocations

More corporate headquarters have relocated to DFW since 2018 than to any other U.S. metro: Caterpillar and Charles Schwab among them, with major new campuses for Goldman Sachs, JPMorgan, and Wells Fargo.

~340

New residents a day

Net new arrivals to the metroplex, every single day. The housing they need is still catching up.

8.4M+

And growing

On pace to pass Chicago as the third-largest metro in America this decade.

$620B+

Regional economy

Large enough to rank among the top 25 economies in the world on its own.

Now the capital itself is arriving.

The Texas Stock Exchange opened in 2026, and Dallas–Fort Worth now trails only New York in finance jobs. The institutions behind that shift bring people, and people bring demand for exactly what we build: space for businesses to grow and homes for families to live in. We are bullish on the next decade here, and built to act on it.

Start a conversation

If you steward capital for a family, a firm, or yourself, we should talk.

Tell us what you're solving for. You'll get straight answers, real numbers, and a quick sense of whether we belong on your short list.

Get in Touch
What we do

Two lanes. One metroplex.

Everything we do sits within Dallas–Fort Worth, where we've operated since 2017. Focus is our risk management: sub-markets we can drive to, priced with data we built ourselves, held to underwriting that has to clear on today's numbers, not tomorrow's.

Photo: small-bay industrial, Dallas
Typical hold6–24 months
Typical renovationOften within 45 days
GeographyDFW in-fill sub-markets
Exit counterpartyOwner-users & operators
Lane 01 · Active

Industrial Value-Add

We acquire Class B and C industrial and flex assets in infill DFW sub-markets, reposition them through targeted renovation, and sell to owner-users for whom the math of owning beats the math of leasing.

The thesis is structural. In-fill industrial demand has outrun supply here for nearly a decade, and the gap between what an operator pays in rent and what that same operator could service in debt has widened materially. We sit in the middle of that arbitrage. Basis is the entire game, and we walk away from anything that doesn't pencil at today's comps.

01 · Source

Off-market deal flow through broker, owner, and operator relationships built over two decades in the market.

02 · Vet

Stress-tested against our own comp database and exit-pricing model, at flat rents, on exit cases from 6 to 24 months.

03 · Reposition

Targeted renovation, often inside 45 days, converting bigger buildings into the smaller spaces demand actually wants.

04 · Exit

Sold to the owner-user who needs the building. Then the capital goes back to work.

Proof point

This playbook has driven the majority of our 40+ transactions since 2018, including recent realized projects in Dallas, Las Colinas, and Richardson.

Executed through the BBE Phoenix Fund →

Photo: Alliance corridor land under development
Typical holdYears to decades
Capital velocityBasis recovered at stabilization & refinance
GeographyDFW growth corridors
OutcomeHold for income or institutional sale
Lane 02 · Active

Ground-Up Development

Build-to-rent communities, master-planned land, and strategic entitlement in North Texas growth corridors. The thesis is patience and basis: position on land before the corridor matures, entitle ahead of vertical, and build only where years of population and corporate growth have already earned the demand.

Capital structure matters more here than anywhere. We underwrite to conservative rents, size debt for the day we refinance rather than for the model that lands the deal, and stay disciplined on land basis even when sellers want today's price for last cycle's product. Permanent financing isn't the end of the investment; it's the moment capital recycles while the ownership already created keeps compounding.

Velocity, for us, doesn't always mean selling. On the right asset it means recovering our initial capital at refinance, leaving little to no basis in a property we still own, and participating in the cash flow, appreciation, and tax-efficient refinance harvests for decades.

01 · Control

Long-look land positions in growth corridors, close to corporate relocations and infrastructure.

02 · Entitle

Density and use secured ahead of vertical, with deliberate buffer to the underwritten unit count.

03 · Develop

Built with experienced operator partners, on fixed-price terms wherever feasible.

04 · Stabilize

Lease-up, refinance into permanent debt, then hold for income or exit.

Proof point

The Cottages at Cibolo Hills: approximately 200 homes, ~17.5 net developable acres, developed through the BBE Keystone Fund with our homebuilding partner.

Executed through the BBE Keystone Fund →

Non-negotiables

The filter runs before the underwriting does.

These are not aspirations. They are the reason we close fewer deals than we see.

01

Concentration

One metroplex since inception. Texas is a non-disclosure state: what assets truly trade for isn't public record. Knowing it, and buying below it, is the compounding edge.

02

Conservatism

Underwritten at today's rents against our own comp database. Leverage sized for refinance, not for the model that wins the deal.

03

Alignment

GP capital alongside on every fund. The number that matters is dollars returned to dollars deployed.

04

Capacity

A multi-fund platform sized to the asset, not to any single vehicle. Capital recycles without losing discipline.

05

Relationships

Brokers, owners, lenders, and operators we've worked with before. The deal flow is the network.

06

Execution

The people who underwrite a deal close it, manage it, and exit it. No handoffs.

That's the discipline. Here's what it has produced.

See the Results
Results

Realized results.
Not projections.

Below are realized outcomes and work currently underway. The numbers are the record, not the forecast.

40+
Transactions since 2018
3
Funds sponsored
Zero
Realized investor losses
~10 mo
Average hold, industrial
Fully realized · BBE 2018 Fund, LP

Our first fund returned every dollar,
then multiplied it.

3.8x
MOIC
47%
Fund IRR
4.5 yrs
First dollar to final distribution

Realized results of BBE 2018 Fund, LP, our first sponsored vehicle, now fully liquidated. Figures are presented net to the fund and are unaudited. Past performance is not a guarantee of future results.

About our funds →

Case studies

Recent work, up close.

Photo: Royal Lane, after renovation
Realized · June 2026

Royal Lane II

DALLAS, TEXAS · PHOENIX FUND

An industrial property acquired below replacement cost in a sub-market we've traded for years. Our construction team completed the renovation within 30 days of closing; the building sold in June 2026 to a buyer who needed exactly what we'd made.

30 days
Renovation
< 9 mo
Hold period
Sold
June 2026
Photo: Royal Lane I aerial
Realized · 2026

Royal Lane I

IRVING, TEXAS · PHOENIX FUND

The building came half-leased when we bought it. We took the whole property up: roof, foundation, windows, exterior paint, and parking lot, then completely rebuilt the interior of the vacant half, while the in-place tenant's rent offset our carry across a roughly fifteen-month hold. The buyer was an owner-user who moved his own business into the renovated space and kept the existing tenant next door for the income. Speed is the usual playbook. Knowing when not to rush is part of the discipline too.

~15 mo
Hold period
Half-leased
Tenant income offset carry
Sold
2026
Photo: Digital Drive, Richardson
Realized · 2025

Digital Drive

RICHARDSON, TEXAS · PHOENIX FUND

The largest project of the Phoenix Fund's second portfolio. Rather than sell one building to one buyer, we created an industrial condominium regime and an owners' association, then sold units individually to the owner-users who valued them most. Structure, not just renovation, made the value.

Unit-by-unit
Exit strategy
2025
Fully exited
Photo: Cibolo Hills site, North Fort Worth
In Development

The Cottages at Cibolo Hills

NORTH FORT WORTH, TEXAS · KEYSTONE FUND

A build-to-rent community of approximately 200 homes in the Alliance growth corridor: roughly 17.5 net developable acres carried from land contract through entitlement toward construction, developed with our homebuilding partner. It is the first project of the BBE Keystone Fund and the fullest expression of our three disciplines working together: land, entitlement, and community building.

~200
Homes planned
17.5 ac
Net developable
Alliance
Growth corridor
Photo: Logan assemblage aerial
Realized · December 2025

Logan

FORT WORTH, TEXAS · LAND ASSEMBLAGE

More than ten adjacent parcels, assembled at a basis no single seller could have commanded. We explored developing the site ourselves, and then a developer who wanted exactly that footprint made an offer strong enough that selling was the better answer. We closed in December 2025. Every path gets underwritten; the best one wins.

10+
Parcels assembled
1
Buyer at exit
Sold
December 2025
Counterparty notes

What the other side of our deals says.

"Closed on time, paid on time, retired the loan early. Outstanding experience. We've since reviewed other opportunities with them."

Ken Salyer · Tri-Kes · Seller & Lender, 2021

"Closed on time, interest paid on time, note retired early. We'd welcome the chance to work with them again."

Steve Kang · Lender · Dallas

That's the record so far. The more interesting conversation is about what's next. If you'd like to hear about upcoming projects, we'd be glad to start there.

Ask About What's Next
Funds

Two clocks. One discipline.

Our industrial work runs on a fast clock: months, not years. Our development work runs on a slow one: years, on purpose. We sponsor distinct vehicles so each strategy gets capital that matches its rhythm, and so investors choose the clock they want to be on.

2018

BBE 2018 Fund, LP

Fully Realized

Our first vehicle and our proof of concept: a focused DFW strategy, executed start to finish, with distributions beginning in year three and final liquidation in under five years. It returned a 3.8x MOIC and a 47% fund IRR, and taught us the playbook everything since has followed.

Realized, net to the fund, and unaudited. Past performance is not a guarantee of future results.

2022

BBE Phoenix Fund, LP

Fully Subscribed · Closed to New Capital

The short-cycle engine. Phoenix acquires, repositions, and sells DFW industrial properties in rapid succession, recycling the same capital through turn after turn rather than letting it sit. Each turn compounds the advantage: the same dollar does more work every time it comes home. Recent exits include Dallas and Richardson.

ACQUIRE REPOSITION EXIT REDEPLOY THE SAME DOLLAR, WORKING AGAIN

The Phoenix Fund is fully subscribed and no longer accepting new capital. Investors interested in participating today can explore the Keystone Fund below.

Phoenix Fund investors receive quarterly financials and updates through our investor portal.

2026

BBE Keystone Fund, LP

Current Vehicle · Hybrid Approach

The long clock, with a hybrid approach. Keystone is our vehicle for projects measured in years rather than months: ground-up development, build-to-rent communities, and strategic land across Texas, along with larger or longer-duration industrial value-add plays when the opportunity earns it. It is built to create value that compounds rather than trades. Its first project is The Cottages at Cibolo Hills, a community of approximately 200 homes in North Fort Worth developed with our homebuilding partner.

CAPITAL RETURNED ACQUIRE / DEVELOP STABILIZE REFINANCE HOLD & COMPOUND

Accredited investors may request information about the Keystone Fund through our team.

The platform

We size to the asset, not to a fund minimum.

When a transaction fits the thesis and exceeds a single vehicle's capacity, the platform and our capital relationships absorb it without compromising underwriting discipline. Our LP base is anchored by family offices, RIAs, and private capital allocators; co-investment and separately managed structures are considered where the deal and the relationship warrant. Every relationship is direct with the GP.

Institutional execution does not require an institutional brand. It requires a team that has done the work before, in the same market, to the same standard.

Request Fund Information
People

Small team. Long table.

BBE is a small firm by design. The people who underwrite a deal are the people who close it, manage it, and exit it, and every transaction since 2017 has passed through the same investment committee. The names below are who you will work with.

Values

Stewardship over scale.

These predate the funds and will outlast any given transaction. They are the lens for every hire, every partnership, and every deal.

/ 01

Professional excellence

Stewarding entrusted capital and relationships with integrity and care.

/ 02

Equitable profitability

Creating a cycle of wealth and generosity that benefits all participants.

/ 03

Graceful engagement

Listening first, acting with dignity, and fostering collective counsel.

/ 04

Principled collaboration

Challenging ideas constructively to innovate and drive shared success.

/ 05

Life transformation

Empowering people to embrace their authentic selves and live purposefully.

Photo: Tim Boyce headshot

Timothy R. Boyce

Member & President
Read bio →
Photo: Aaron Elmor headshot

Aaron Elmor

VP of Finance & Investments
Read bio →
Photo: Colton Fairchild headshot

Colton Fairchild

VP of Business Development & Strategy
Read bio →
Photo: Grant Boyce headshot

T. Grant Boyce

Member & Broker, United Real Estate
Read bio →
Photo: Mitchell Anderson headshot

Mitchell Anderson

Director, Real Estate Operations
Read bio →
Photo: Abdalmajeed Saleh headshot

Abdalmajeed Saleh

Senior Data Scientist, AI & Automation
Read bio →
Small by design

The name on the email walked the building.

We run lean on purpose, hire slowly, and add capacity only where the deal flow has earned it. Every person on the platform was brought in by someone who has worked with them before.

01 · Ownership

One owner, end to end

Every transaction is sourced, underwritten, and closed by named members of the firm. The person who brings a deal in sees it through. This is our hard constraint on growth, on purpose.

02 · Alignment

Capital alongside

The GP commits across the platform's funds. Our economics are oriented to total return, not asset gathering.

03 · Presence

Local, not relocated

The team lives and operates in DFW. No satellite office, no remote underwriting, no flying in for closings. The metroplex is the office.

The Network · Capital & Affiliates

Independently operated. Structurally aligned.

BBE Group sits inside a network of independently operated firms with overlapping leadership and aligned values. Each firm runs its own strategy and capital structure. The most consequential of those relationships, for our LPs, is Agora Partners.

  Lead Capital Relationship

Agora Partners

Redemptive Private Credit

Agora Partners deploys redemptive private credit to proven operators across small and mid-sized businesses and real estate. Same philosophy as BBE: stewardship of entrusted capital, alignment over restriction, long-term relationships.

For BBE, Agora is the structural unlock. It allows the platform to size to the asset rather than to a single equity vehicle. When a transaction fits the thesis and exceeds an equity fund's appetite, the credit relationship absorbs the gap. No syndicating the deal away, no slowing the close, no waiting on the next raise.

The result is a platform that can act with the speed of a small firm and the capacity of a much larger one.

Affiliated Platform

Luminosity Capital

Florida Commercial Real Estate

Affiliated Platform

Sypnios

Acquires & Scales Businesses

Contact

Start with a conversation.

Tell us what you're solving for. Straight answers, real numbers, and a reply within a couple of days.

Reach us directly

Whether you're evaluating a partnership, considering an investment, or selling a property that fits what we buy, we'd like to hear from you.

Your information is kept confidential and never shared.