Acquire at the dislocation
We buy distressed, mismanaged, or functionally obsolete multifamily assets inside the District — the buildings that institutional capital tends to pass over and merchant operators tend to under-invest.
Boundary Stone Capital
Family-sized housing, held for the long term.
We acquire distressed and under-managed multifamily assets in Washington, D.C., reconfigure them into larger-bedroom homes, and place them into permanent agency-financed ownership — a segment of the District's housing stock that institutional capital has largely passed over.
Our thesis
Washington, D.C. has no shortage of new apartments. It has a shortage of the right apartments — three- and four-bedroom homes sized for the households the city's new supply has largely skipped over.
Boundary Stone Capital was built to address that gap directly: to produce and preserve family-sized rental housing in the District, stewarded under the long-horizon discipline of agency debt. Not a tax play. Not a merchant-build flip. A program.
Three pillars
How the program works.
Every asset we acquire moves through the same three-part discipline: acquire what the market is mispricing, reconfigure for larger households, and exit into permanent agency ownership.
Reconfigure for families
We redesign unit mix and unit plans to produce three- and four-bedroom homes — the apartment sizes that the District's stabilized rental stock structurally under-produces and that family households cannot easily find elsewhere.
Hold under agency debt
We refinance into long-duration Fannie Mae, Freddie Mac, or FHA/HUD debt and operate the asset as a permanent income vehicle — a structural commitment to stewardship rather than resale.
14 Projects delivered Lifetime aggregate
118 Units produced Across condo + multifamily
18+ Years D.C. experience Principal tenure
25–50 Units per asset Forward acquisition target
Ikigai · a reason for being
Where what we love, what we do well, what the world needs, and what pays converge.
Boundary Stone Capital was formed at the center of four overlapping commitments — the Japanese concept of ikigai, a reason for being. We are a firm whose institutional discipline is anchored by a particular idea about what Washington, D.C. family-sized rental housing should look like, and who should be in a position to deliver it.
- Passion
- Washington, D.C. — the neighborhoods, the architecture, the civic fabric we have spent two decades building in.
- Vocation
- Multifamily development, acquisition, and capital structuring — the craft we have practiced across eighteen years and four institutional platforms.
- Mission
- Three- and four-bedroom rental homes in the District — a structurally under-produced segment that the city's family-sized demand has long outpaced.
- Profession
- Agency-financed long-term ownership — underwriting that rewards stewardship rather than exit.
Representative work
Recent assets.
A selection from our active multifamily portfolio in the District. Full portfolio, including the early-chapter condominium work, lives on the Portfolio page.
Chapter II In delivery The Stanton
Stanton Park, D.C.
- Units
- 26
- Year
- 2026
- Type
- Family-sized multifamily
Chapter II In delivery The Highlands
Columbia Heights, D.C.
- Units
- 26
- Year
- 2026
- Type
- Family-sized multifamily
Chapter II The Barry
Washington, D.C.
- Units
- 17
- Year
- 2024
- Type
- Multifamily
Speak with the firm
If our thesis matches your mandate, we would like to speak.
Boundary Stone Capital speaks with institutional capital partners, D.C. housing stakeholders, and owners of distressed multifamily assets inside the District. We respond to every serious inquiry.