Why the Seller Took $11.1M for a $16M 144-Unit Building — and Who's Selling Next

Why the Seller Took $11.1M for a $16M 144-Unit Building — and Who's Selling Next

Previously under contract$16,000,000

We closed at$11,100,000

Off the ask−$4.9M

A live breakdown of a distressed 144-unit acquisition and the $1.26 trillion debt wave behind it. Investors: learn the 5-point test before you wire a dollar. Operators: see how deals like this get found — and funded.

The full anatomy of the deal — 144 units, Houston, previously under contract for $16M, closed at $11.1M

Why buildings sell at deep discounts — and why it has nothing to do with the real estate

$1.26 trillion in loans coming due by 2027, and what it means for prices through the window

The 5-point test for judging any apartment deal in this market

Who's selling next — where the distress is concentrating, and why the window is temporary

Thursday, Aug 20 · 4:00 PM ET · Live + Q&A

Hosted by Marcin Drozdz & Raymond W. Lord · M1 Real Capital

Read This First

The building was in a good area. Nice houses right across the street. The seller still took $4.9 million off the ask.

It wasn't the real estate. It was the debt. Cheap short-term loans came due, a new loan cost more than the owner could afford, and time ran out. In this live session, we break down exactly why — and why thousands of owners are heading toward the same decision.

Apartment Values Since the Peak

The average hides the damage: the market is down ~28% — but on distressed loans, appraisals are running about 45% below original values.

Sources: rate increase — Federal Reserve (2022–2023). Value decline — Green Street Commercial Property Price Index (apartment sector, vs. 2022 peak). Distressed-loan appraisal declines — KBRA analysis of appraisals vs. origination values (2024). Figures approximate and subject to revision.

If you invest

You're an accredited investor with capital sitting in cash or the market. Deals cross your desk and every sponsor sounds confident. You'll leave knowing how to evaluate every apartment deal that crosses your desk — before you wire a dollar.

If you operate

You find and run deals. You've watched offers die on financing while someone else closed. You'll see how a close like this actually happens — and what it takes to be the buyer who can prove it.

Why Listen To Us

The people who did the deal are the ones breaking it down.

Not a hired presenter reading someone else's slides. The principals who found, funded, and closed the 144-unit walk you through it themselves — live, with Q&A.

Managing Partner · Capital Strategy

Marcin Drozdz

20 years · Nine-figure raises

Marcin has spent nearly 20 years in private capital, raising multiple nine figures and co-managing several equity funds. He leads capital strategy and investor relations, and has helped 1,000+ operators build their capital-raising systems.

9 figures personally raised in private capital
20 years as an owner-operator, not a presenter
1,000+ operators, syndicators & GPs worked with

Principal · Acquisitions & Operations

Raymond W. Lord

$3.5B+ · 39 years

Raymond has spent 39 years in apartments, with $3.5B+ in deals. He was President of The Lyon Group, and advised the U.S. government during past housing crises (FNMA, FDIC, and the RTC). He has bought, operated, and sold through every market cycle since the 1980s.

$3.5B+ in apartment transactions
FNMA · FDIC · RTC crisis-era advisory
Bought, operated & sold through every cycle since the '80s

On This Free Webinar

One deal, dissected — then the wave behind it.

We open with the close itself and work outward. By the end you'll have the same test we run before we buy anything.

SEGMENT 01

The Deal, Start to Finish

144 units in Houston. Previously under contract for $16M, and the deal kept falling apart. How it ended up closing at $11.1M — the timeline, the seller's position, and the moment certainty beat price.

SEGMENT 02

Why He Took It: What Actually Changed

Rates jumped 5 points. Apartment values dropped ~28% — and appraisals on distressed loans are running about 45% below original values. The buildings didn't break. The debt did.

SEGMENT 03

What Most Investors Get Wrong

"The good deals are gone." "High rates ruined it." "You have to time the market." Three misconceptions — and why the fear that keeps everyone else out is what creates the low price.

SEGMENT 04

The 5-Point Test

The test we run on every deal — priced below build cost, pays for itself at today's rates, safe long loans, operator control, and a clear way out. Whether you invest with us or with anyone else, this is the test. We run the 144-unit through all five, live.

SEGMENT 05

Who's Selling Next

$1.26 trillion in loans comes due by 2027. Where the distress is concentrating, why demand isn't the problem, and why the window closes when rates ease. Plus live Q&A.

Yes, You've Seen Real Estate Webinars Before

Here's how this one is different

A real deal, real numbers

Not hypotheticals or someone else's case study. The actual acquisition — what it was under contract for, what we paid, what we put in, and where it stands today.

A test, not a pitch

You leave with the 5-point test to judge any apartment deal in this market — including ours. If a deal misses even one criterion, it's relying on the market to bail it out.

Both sides of the table

The capital strategist and the 39-year operator, in the same session. How the deal was found, how it was funded, and why the seller said yes.

The Real Reason We're Doing This

Why we’re doing this

Simple: this market rewards people who understand it. If you're an investor, we'd rather you know exactly how to judge a deal — anyone's deal — than wire money on a story. If you're an operator, we'd rather you see what a funded buyer looks like than lose another close on financing.

Value first. What happens after that is up to you.

— Marcin Drozdz & Raymond W. Lord · M1 Real Capital

Who This Is Built For

This is the perfect webinar for you if…

Two audiences. One deal. Each side leaves with something different.

Passive Investor

You have capital. You want it working — safely.

This session is built for you if:

You're accredited, with capital sitting in cash or the market, and private real estate keeps crossing your desk
Every sponsor sounds confident — and you want a way to tell who's real before you wire a dollar
You want to understand why full, performing buildings sell at discounts — and how buyers like us end up on the right side of that
You'd rather learn the 5-point test now than learn it the expensive way later

Active Operator · Syndicator · Fund Manager

You find deals. You want to be the buyer who closes.

This session is built for you if:

You've watched offers die on financing while a funded buyer walked away with the deal
You want to see the anatomy of a $4.9M-off-the-ask close — from the buyer's side of the table
You want to know what made the seller say yes: certainty, and how it's built before the deal exists
You're positioning for the 2027 debt wave and want to be ready before the window closes

Questions

What you’re probably wondering

I’m a passive investor. What do I walk away with?

The 5-point test we run before we buy anything — priced below build cost, pays for itself at today’s rates, safe long loans, operator control, and a clear way out. From Thursday on, every deal that crosses your desk gets run through that list before you wire a dollar. You’ll also understand exactly why performing buildings are selling at discounts right now, so you can tell a real opportunity from a good story.

I’m an operator, syndicator, or fund manager. What’s in it for me?

The anatomy of a $4.9M-off-the-ask close from the buyer’s side — how the deal was found, why the seller said yes, and what made the offer credible when every other buyer needed 90 days and a financing prayer. You’ll see what certainty is actually built from, so you can position for the same wave in your own market.

Will you show real numbers, or is this theory?

Real numbers from a real acquisition: what the property was previously under contract for, what we paid, and the timeline in between. Plus the market data behind the wave — the rate jump, the ~28% value decline, and the $1.26 trillion in loans coming due by 2027, with sources.

Is this an investment offering?

No. This session is educational — a breakdown of a completed acquisition and the market behind it. Any offering of interests in M1 Real Wealth Fund LP is made only to verified accredited investors through a confidential Private Placement Memorandum, separately from this event.

I’m not accredited yet. Should I attend?

You’re welcome to attend and learn — the market breakdown and the 5-point test apply to anyone evaluating real estate. Investment conversations with us, however, are limited to verified accredited investors.

What if there’s another 2008?

We take that head-on in the session — including why buyers who plan for downturns structure deals so they’re never forced to sell into one. That’s criterion two and three of the test: the property pays for itself at today’s rates, on safe long loans.

Will there be a replay?

No replay is guaranteed. This is a live working session with Q&A — the questions from the room are half the value. Plan for about 75 minutes, live, Thursday at 4 PM ET.