Ori invests in high-performing multifamily opportunities where our expandable-unit technology materially improves density, livability, absorption, and yield on cost.
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We focus on two primary strategies:
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Hotel-to-housing conversions — delivering B+ / A- quality apartments at attainable, below-market rents.
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Ground-up development — delivering A-quality multifamily product that rents below market because units live significantly larger than their footprint.
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Across both strategies, our goal is to produce elevated, attainable, institutionally viable housing with superior risk-adjusted returns.

Ori’s expandable apartments create more livable space in the same or smaller footprint, strengthening both renter demand and financial outcomes.
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Because units feel larger and more functional, this advantage drives:
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- Strong absorption
- Higher rent per SF
- Elevated NOI
- Improved yield on cost

Ori invests in or co-develops:

Hotel-to-apartment conversions (B+ / A- quality at attainable rents)

Ground-up multifamily (A-quality product renting ~5% below market)

Typical target ranges:

6.5% to +7% untrended yield on cost

18% to +20% levered IRR

2.0x+ equity multiple

Ori improves resiliency across cycles by delivering:

B+ / A- conversions with below-market rents
A-quality ground-up at a rent discount to the competition
Higher density and livability
Broader renter appeal
Construction-method flexibility
Increased absorption and lower turnover
City partnerships for approvals and incentives
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This creates a balanced, defensible investment profile with meaningful downside protection.

Ori focuses on high-demand supply constrained U.S. markets with strong renter bases, high land values, and significant barriers to new supply—markets where expandable living generates the greatest uplift in performance.
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These include major metros across the Southeast, Northeast, Mid-Atlantic, Mountain West, and West Coast.

Yes, Ori invests GP and LP capital