Firm

Freehouse Capital Partners is a real estate developer and investor based in Whitefish and Denver. Our Mountain West work focuses on smaller Upper Rockies markets, with industrial investments also spanning the Industrial Heartland.

Our founders have worked together for more than a decade on more than $250M of acquisitions, ground-up development, and urban infill. We invest our own capital alongside our partners and plan for long-term ownership.

We work as both sponsor and fee developer for institutional investors. We partner with landowners to secure sites, work with tenants to establish demand, and structure projects around land costs, construction schedules, and the cash flow needed to carry them.

Select Service Hospitality

We develop and operate national-flag, select service hotels in growing, undersupplied markets where lodging stock is outdated or insufficient. We concentrate on markets that are difficult-to-navigate and complex to operate in.

Our local relationships and deeply rooted on-the-ground teams and partners allow us to capitalize on markets with strong tailwinds and continuing supply blockers over long periods of time.

Industrial Real Estate Development

We develop single- and multi-tenant industrial real estate for large national and regional tenants in emerging, business-friendly markets with strong workforce bases but a lack of vacant large-bay industrial space. We partner with generational landowners to control development parcels at an advantaged basis, completing horizontal improvements before a user is identified.

Our approach matches the 6–12 month window when the target user typically makes decisions versus build-to-suit competitors with raw land requiring 12+ months to deliver. Partnerships with economic development agencies and state governments give us early access to tenant demand across our markets.

  • Single-tenant to multi-tenant industrial conversions
  • Class A and B value-add industrial assets
  • Build-to-suit and partial-spec development

Multifamily Workforce Housing

We develop high-density workforce multifamily in tertiary markets where demand is durable, supply is constrained, and the math only works on land with an advantaged entry basis.

Our local relationships let us assemble sites at a basis outsiders can't reach, the precondition for building efficiently designed product that meets local income profiles while still delivering institutional-quality execution and operations.

Land Development

We acquire and entitle large tracts of raw and improved land for industrial, commercial, and multifamily use in markets with strong growth tailwinds but massive land value inflation.

Structured partnerships with local landowners and market stakeholders let us control land at a basis and timeline that matches market absorption rates and reasonable development timelines.

Don't Blow Up

We plan for carrying costs and debt service throughout a project. We pre-lease developments before breaking ground and underwrite acquisitions to existing cash flow.

Use Leverage Intelligently

We use low-to-moderate leverage and test whether cash flow covers debt service through a range of economic conditions.

Deal by Deal

We invest our own capital alongside our partners in each deal. We do not raise a blind pool or face a deadline to deploy it.

Long-Term Ownership

We hold assets for five years or more. When we sell, we structure vehicles that allow investors to reinvest.

Tax-Advantaged

We operate assets to provide tax efficiencies to our LPs, delivering accelerated losses, tax-efficient return-of-capital events, and 1031 exchanges whenever possible.

Cash Flow First

We avoid assets that have to be sold or repositioned to meet return targets.

Industrial Heartland

Industrial Heartland target markets
Profile
Single & multi-tenant, vacant or occupied
Building type
Class B & C
Building sizes
70,000+ SF
Occupancy
Vacant, partially vacant, or income-producing
Use
Heavy and light industrial (warehouse, distribution, manufacturing, flex)
Construction
Concrete, masonry, steel frame metal, tilt-up
Deal size
$5M+

Upper Rockies

Upper Rockies target markets
Profile
Single & multi-tenant value-add
Building type
Class B & C
Building sizes
25,000+ SF
Occupancy
Vacant, partially vacant, or income-producing
Use
Heavy and light industrial (warehouse, distribution, manufacturing, flex)
Construction
Concrete, masonry, steel frame metal, tilt-up
Deal size
$3M+

We pay a 1% bonus on top of seller-paid commissions for partners who close deals with us. Co-investment alongside FCP may be available in deals you bring us, considered deal by deal and not guaranteed.

Patrick Olson, Co-Founder
patrick@freehousecapital.com
(406) 545-4158