Leading Voices in Real Estate Joe Muratore & Ryan Swehla | Graceada Partners
Oct 7, 2025
Join Joe Muratore and Ryan Swehla, co-founders of Graceada Partners, as they reveal the untapped potential in secondary and tertiary real estate markets. With a focus on value-add multifamily and industrial investments, they challenge the notion that only primary markets yield results. Hear about their strategic partnerships and how operational inefficiencies create opportunities for strong returns. They share insights on performance data and the increasing attractiveness of these markets due to evolving work and lifestyle dynamics.
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Secondaries As The New Primaries
- Graceada Partners targets secondary and tertiary Western US markets as durable, underserved opportunities.
- They view these markets as 'secondaries as the new primaries' with large addressable populations and institutional potential.
Private Capital Fuels Market Inefficiency
- Secondary/tertiary markets are dominated by private capital and smaller transactions.
- That structure creates inefficiencies and opportunities similar to lower-middle-market private equity.
Buy Supply-Constrained, Multi-Tenant Assets
- Focus on supply-constrained, multi-tenant assets like workforce multifamily and small-bay industrial.
- Buy where rents justify upgrades but not new construction to protect upside and limit competition.
