Boundary Stone Capital

Family-scale rental housing in Washington, D.C., held under long-duration agency debt.

We acquire under-managed D.C. multifamily, reconfigure it into three- to five-bedroom homes, and refinance into Fannie, Freddie, or HUD debt. A boutique District developer running one disciplined program against one observed gap.

Our strategy View portfolio

Program

How the program works.

Each asset moves through the same three steps. Acquire what is mispriced. Reconfigure for larger households. Refinance into long-duration agency debt.

Acquire at the dislocation.

Distressed, mismanaged, or functionally obsolete D.C. multifamily — too small for a megafund, too large for a retail landlord.

Reconfigure for families.

Redesign unit mix into three- to five-bedroom homes. Unit sizes the District’s stabilized rental stock under-produces.

III

Hold under agency debt.

Refinance into ten-to-fifteen-year Fannie, Freddie, or HUD debt. Operate as permanent income, not a flip.

Read the full strategy

139 Units delivered Across condo + multifamily

15 Projects delivered Lifetime aggregate

17+ Years D.C. experience Principal tenure

25–50 Units per asset Forward acquisition target

Why this firm exists

Where what we love, what we do well, what the District needs, and what pays converge.

Boundary Stone Capital sits at the center of four overlapping commitments — the Japanese concept of ikigai, a reason for being. Boutique D.C. roots, multifamily craft, family-sized supply, and long-hold agency capital.

Passion: The neighborhoods, architecture, and civic fabric we have spent seventeen years building in.
Vocation: Acquisitions, development, and capital structuring practiced across fifteen years and four institutional platforms.
Mission: Three- to five-bedroom homes the District’s stabilized rental stock under-produces.
Profession: Underwriting that rewards stewardship rather than exit — Fannie, Freddie, HUD.