DECADES OF PROVEN MULTIFAMILY REAL ESTATE EXPERIENCE
Transforming underperforming properties through disciplined capital reinvestment, strategic repositioning, and active operational oversight.
OVERVIEW
Rudy Munzel, David Squire, and Alexander Munzel collectively bring more than six decades of multifamily real estate experience, with a core focus on value-add acquisitions and operations. Together, they own and manage approximately 1,000 apartment units across Washington, Oregon, and Missouri.
What differentiates Munzel & Squire from many other real estate syndicators is a deeply hands-on ownership and asset management approach. Rudy and David alone have partnered on more than 30 multifamily projects over the past three decades, consistently transforming underperforming properties through disciplined capital reinvestment, strategic repositioning, and active operational oversight.
A defining characteristic of the firm’s investment strategy is a focus on multifamily properties built prior to the 2000s. These assets often suffer from deferred maintenance, outdated systems, and operational inefficiencies that create meaningful barriers for less experienced operators. While many syndicators concentrate on newer Class A developments, Munzel & Squire intentionally targets older buildings where hands-on ownership, construction expertise, and active management can materially improve performance.
Our Northstar Principles for Buying Real Estate: A.I.D.E.E.
Our fundamental approach to acquiring real estate revolves around a simple but powerful principles we call A.I.D.E.E. This framework guides every acquisition decision we make and ensures each investment aligns with both short-term discipline and long-term value creation. A.I.D.E.E. stands for: Appreciation, Income, Depreciation, Exit, and Excitement.
Bringing It All Together
From our standpoint, using A.I.D.E.E. as our foundational philosophy provides a clear, disciplined, and value-driven approach to evaluating real estate opportunities. Building on this foundation, we have developed Nine Windows of Opportunity for Purchase we use to evaluate potential acquisitions. These criteria allow us to assess properties in a consistent, thoughtful manner and support a differentiated, value-added acquisition strategy.
OUR PROCESS
OUR INVESTMENT PHILOSOPHY
Since acquiring our first property more than 30 years ago, our success has been driven by a disciplined and repeatable investment framework. Rather than chasing market cycles, we adhere to a defined set of principles that guide every acquisition and operational decision. These principles are designed to create a wide margin of safety, preserve capital, and generate durable, risk-adjusted returns.
PROPERTY PORTFOLIO
CURRENT PROJECTS
UNDER MANAGEMENT
ABOUT US
COLLECTIVELY SIX DECADES OF EXPERIENCE
Rudy Munzel
Rudy Munzel is a seasoned investor, developer, and licensed contractor with nearly 40 years of experience. He holds a degree in Architecture from the University of Oregon and has sponsored and managed more than 40 real estate projects totaling over $200 million in value. Rudy brings deep expertise in the redevelopment and repositioning of multifamily and mixed-use assets, combining design, construction, and operational execution under a single ownership vision.
David Squire, SIOR
David Squire has worked in commercial real estate since 1985, beginning his career with Equitec Financial Group. He joined Newmark Knight Frank (formerly Grubb & Ellis) in 1990 and currently serves as Executive Vice President and Managing Director in the firm’s Portland office. David brings more than 30 years of commercial real estate experience, with specialized expertise in tenant representation, large multi-building developments, corporate advisory services, and office investment sales. A leading office producer in Portland, he has been awarded Portland Office Broker of the Year eight times. David holds a Bachelor of Science in Economics from the University of Georgia and a Real Property Administrator (RPA) designation from BOMI International. He is an active member of the Society of Industrial and Office Realtors (SIOR).
Alexander Munzel
Alexander Munzel joined the partnership after earning his degree in Real Estate Development from the University of Denver. He brings strong analytical rigor, underwriting discipline, and acquisition execution capabilities, strengthening the team’s ability to identify opportunities and implement value-add strategies with precision.
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Learn how our team approaches capital deployment, risk evaluation, and execution through a clearly defined investment process.
