Today, we take a look at what happens when you narrow your focus to a single area, choosing to go a mile deep. We’re joined by Daniel Casey, President and CEO of North40 Capital, a local property developer, and BlackRock Construction Group, a commercial general contractor specializing in multifamily, senior living, and income-producing products. To start, Daniel introduces himself and the companies he runs before explaining how his background as a general contractor serves him in the work he does today. Then, we learn about North40’s commitment to servicing only one area (Tacoma, Washington), why the company stands tall above its competitors, how Daniel built an impressive portfolio without having to raise his own retail capital, and how he and his team identify the areas they’d like to get involved in. We also examine North40’s rent bumps evolution from its inception until now, as well as where the business currently stands and what it has planned moving forward. To end, Daniel details everything we need to know about the 2025 Gobundance Multifamily Summit, and we discover the best ways to connect with him and his work.
Key Points From This Episode:
- How Daniel’s GC background helps him in the work he does today.
- Why his company chose to narrow its focus to one area, but with multiple asset classes.
- How North40 and BlackRock stand out among their competitors.
- The portfolio of assets and investors Daniel built without raising his own retail capital.
- Insight into the buy box: how he and his team identify their target areas.
- Unpacking the evolution of his rent bumps and the differences in Class-A rents.
- Exploring the current state of North40 and BlackRock and their plans for the near future.
- The ins and outs of the upcoming Gobundance Multifamily Summit.
- How to connect with Daniel Casey, North40, and BlackRock.
Links Mentioned in Today’s Episode:
Asset Management Mastery Facebook Group
2025 Gobundance Multifamily Summit
2024 Gobundance Multifamily Summit – Led by Daniel Casey
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