Accredited investors only.
Reviving Neighborhoods. Delivering Returns.
Midsouth Workforce Housing Fund specializes in acquiring existing older apartment buildings in the Memphis metropolitan area. Our proven strategy focuses on upgrading units to provide rental accommodation to the workforce. We plan to own these properties for 2-3 years, creating value through better operations and key upgrades. This transforms properties while meeting the housing needs of working families.
Our careful approach uses deep boots-on-the-ground local market knowledge and strict financial reviews. Workforce housing is a strong and growing sector with steady demand, no matter the market.
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This site is for information purposes only and does not constitute an offer to sell or a solicitation to buy securities. Securities may only be sold to eligible investors.
Our Approach
A Proven, Repeatable Business Model
Midsouth Workforce Housing Fund employs a disciplined investment strategy focused on essential housing and renovation-led value creation. We target properties where we can unlock significant value through strategic capital improvements, professional management, and operational optimization. Our approach is designed to generate attractive returns while addressing the critical need for quality, affordable housing in growing markets.
01
Acquire
We identify and acquire existing older apartment buildings in strategically selected Memphis submarkets. Our rigorous underwriting process focuses on properties with solid fundamentals, strong rental demand, and clear value-add opportunities. We leverage our 'boots on the ground' team and extensive local network and market expertise to source off-market and lightly marketed deals, often securing favorable pricing through our established relationships and reputation in the market.
02
Enhance
Once acquired, we implement a comprehensive renovation program designed to transform property quality and performance. Our improvement strategy includes unit upgrades (kitchens, bathrooms, flooring, appliances), common area enhancements, and operational improvements. We work with trusted local contractors and maintain strict quality control to ensure renovations are completed on time and on budget, minimizing vacancy and maximizing rent growth potential.
03
Sell
After stabilizing operations and achieving our target NOI improvement, we position properties for strategic disposition. Our typical hold period of 2 to 3 years allows sufficient time to capture the full value of our improvements while maintaining capital efficiency. We leverage our network of institutional buyers and regional operators to execute favorable exits that maximize returns for our investor partners
Investing in Essential Housing
Why Workforce Housing Delivers Consistent Performance
Workforce housing represents a critical segment of the rental market that remains consistently underserved. These properties serve middle-income families, essential workers, and young professionals who need quality, affordable housing options. This asset class demonstrates remarkable resilience across economic cycles because it addresses a fundamental need rather than luxury preferences.
Strong Demand Fundamentals
The Memphis market exhibits ongoing high rental demand for safe, well-maintained, and affordable housing options. With limited new construction at accessible price points, existing properties that undergo thoughtful renovation can capture significant rent premiums while remaining affordable to the workforce population. This demand is supported by steady job growth in logistics, healthcare, and other key sectors.
Attractive Cost Basis
Acquisition costs per unit for existing properties remain materially attractive compared to new construction, which often exceeds $150,000+ per unit in today's environment. This creates a compelling value opportunity for investors willing to undertake strategic renovations.
Resilient Cash Flows
Essential housing maintains occupancy and rent collection even during economic uncertainty, providing defensive characteristics and downside protection for investor capital.
Value Creation Opportunity
Many older workforce housing properties are owned by mom-and-pop operators who have deferred maintenance and capital improvements, creating significant upside potential through professional management and targeted renovations.
Why Memphis, Tennessee
Strategic Location Meets Logistics Infrastructure
Memphis stands as one of North America's premier distribution and logistics hubs, strategically positioned at the crossroads of major transportation networks. This central location provides unparalleled multi-modal connectivity, making the city indispensable to national and international supply chains. The concentration of logistics operations drives consistent employment and population growth, creating sustained demand for workforce housing.
The city's logistics infrastructure isn't just extensive—it's world-class. Memphis serves as a critical node in the global movement of goods, attracting Fortune 500 companies and generating thousands of jobs that support our target renter demographic. This economic foundation provides stability and growth potential that directly benefits multifamily investments in strategically selected submarkets.
Busiest Air-Cargo Airport
Memphis International Airport ranks as the busiest air-cargo airport in North America and second globally, anchored by FedEx's superhub operations, which employ over 30,000 people locally and generate ripple effects throughout the regional economy.
Five Class 1 Railways
Memphis is served by five Class 1 railway systems, providing extensive freight rail connectivity that supports manufacturing, distribution, and warehousing operations across the metropolitan area.
Major Trucking Corridor
Ranked as the #3 busiest trucking corridor in the United States, Memphis offers superior highway access via multiple interstate systems, enabling efficient ground transportation for regional and national distribution.
Inland Port Capacity
As the #5 largest inland port in the country, Memphis leverages Mississippi River access for barge transportation, complementing air, rail, and highway networks to create unmatched multi-modal logistics capabilities.
This site is for information purposes only and does not constitute an offer to sell or a solicitation to buy securities. Securities may only be sold to eligible investors.
Strong Growth
Major Capital Flowing Into Memphis
Memphis keeps drawing large investments from institutions and companies. This shows strong belief in the market's future. In recent years, billions of dollars have been committed to big projects in key areas that create a need for worker housing.
FedEx continues to expand its operations and invest in its Memphis hub. This keeps the city a top global leader in moving goods. St. Jude Children's Research Hospital, one of the region's largest employers, has announced big expansion plans. These plans involve hundreds of millions in spending and thousands of good jobs.
Ford recently committed billions to make electric vehicles near Memphis. This massive investment will create many jobs and a demand for housing for years to come. These key investments attract other businesses and thousands of workers who need quality places to live.
Memphis is the Digital Delta—a next-generation Supply Chain 4.0 hub. The region is home to 3,800+ supply chain and logistics companies and employs 121,000+ people in the industry. From Memphis, companies can reach 95% of the world’s GDP within 72 hours.
xAI has also expanded their footprint in Memphis with the purchase of a 1-million-square foot property described as a future site for what xAI has called the world's largest supercomputer.
$5.6B
Ford Investment
Ford's Blue Oval City is the largest factory investment ever in Tennessee. It is expected to create thousands of jobs in the Memphis area.
$2.0B+
St. Jude Expansion
St. Jude is expanding its campus and building new research centers. This ensures steady growth for one of Memphis's most secure and respected employers.
30K+
FedEx Employment
FedEx directly employs over 30,000 people in the Memphis area. Thousands more work in related logistics and distribution jobs.
1M sq ft
xAI Supercomputer
xAI purchased a 1-million-square-foot property in Memphis for what they've called the world's largest supercomputer facility.
This site is for information purposes only and does not constitute an offer to sell or a solicitation to buy securities. Securities may only be sold to eligible investors.
Strategy Deep Dive
Acquire. Enhance. Sell.
We invest with a clear strategy: buy, improve, and sell. We look for properties where we can add real value by fixing them up, managing them better, and making operations more efficient. This is active investing, not passive. Our team brings decades of real estate experience and deep knowledge of the Memphis market.
Disciplined Sourcing
We leverage proprietary deal flow and established relationships to identify off-market and lightly marketed opportunities.
Value-Add Execution
We improve properties by updating unit interiors (like kitchens and bathrooms), common areas, and making them look better from the outside. We stick to our budget and schedule.
Strategic Exit
Once properties are running smoothly and meet our financial goals, we sell them. Our buyers are typically large investors or local operators looking for stable workforce housing.
Our Criteria
Midsouth Workforce Housing Fund focuses on properties that meet strict criteria designed to optimize risk-adjusted returns. We target workforce housing assets where significant value can be created through renovation and professional management.
Property Size
Multi-family units. This allows for efficient operations and cost savings.
Location
In strong Memphis neighborhoods with employment growth, good schools, and improving demographics.
Condition
Needs repairs or updates inside, but has a solid structure.
Occupancy
Mostly occupied, showing good demand from renters.
Renovation-Led Transformation
Creating Value Through Strategic Capital Improvements
Our renovation plan is precise and well-organized. We invest in improvements that directly boost rents and make tenants happy. These changes also make properties last longer and cut down on future repair costs.
The changes we make go beyond just looks. We update properties to modern standards that renters expect today, while keeping them affordable. This includes energy-saving appliances, strong finishes, and better amenities to keep residents longer and support rental rates.
Before
  • Dated finishes (1980s-1990s)
  • Worn carpet, outdated fixtures
  • Poor cub appeal and neglected landscaping
  • Deferred maintenance issues throughout
After
  • Modern kitchens, stainless appliances
  • Updated bathrooms, modern fixtures
  • Quality vinyl plank flooring throughout
  • New paint, lighting, and hardware upgrades
Months 1-3: Planning & Mobilization
We plan renovation details, hire contractors, order supplies, and start on model unit conversions. Implement resident communication plans and begin pre-leasing renovated units.
Months 4-12:
Active Renovation
Execute rolling renovation program. We keep occupancy high by carefully choosing units and managing move-outs. Common areas and exteriors are also improved.
Months 13-18: Stabilize
We finish all renovations, reach full occupancy at target rents, and improve operations. We fine-tune marketing, leasing, and management to earn the most income.
Months 19-36:
Hold & Exit
We operate the stable property, maintain its quality, and get it ready for sale. We market it to good buyers and complete the sale to give investors the best returns.
This site is for information only. It is not an offer to sell or a request to buy securities. Securities can only be sold to eligible investors.
Leadership
Operator-Led Execution
Midsouth Workforce Housing Fund is led by experienced real estate professionals with complementary skills and a proven track record of successful multifamily acquisitions, renovations, and exits. Our team combines decades of operational expertise with institutional-quality capital formation capabilities, ensuring professional execution from deal sourcing through final disposition.
Phil Wazonek
Partner
Phil brings over 25 years of commercial real estate experience spanning acquisitions, dispositions, renovations, and property management. Throughout his career, he has been involved in multifamily transactions exceeding $200 million in total value, with extensive experience managing complex renovation projects and repositioning underperforming assets.
A resident of Memphis, Phil has successfully executed multiple apartment renovation projects in the local market, establishing deep relationships with property managers, contractors, lenders, brokers, and other key service providers. His hands-on approach and local market expertise drive our ability to identify opportunities, execute complex renovations, and deliver superior results for investors.
Sunita Prasad
Partner
Sunita is a corporate development and investor relations professional with 20 years of experience supporting capital formation, strategic growth initiatives, and investor communications for both public and private companies. Her extensive background spans multiple industries and includes extensive experience, managing investor relationships, and coordinating complex strategic transactions.
Sunita's expertise in capital markets, investor relations, and strategic partnerships ensures Midsouth Workforce Housing Fund maintains institutional-quality investor communications, reporting, and fund administration. Her track record in capital formation and growth strategy provides the infrastructure necessary to scale the fund and deliver professional-grade investor experience.
This site is for information purposes only and does not constitute an offer to sell or a solicitation to buy securities. Securities may only be sold to eligible investors.
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Accredited Investors Only
This opportunity is only for accredited investors, as defined by law. You will need to confirm your accredited status.
Contact Information
Legal Disclaimer
This website and its content are for information purposes only. They are not an offer to sell or buy any investments. Any official offer will be made through a confidential document. This document will detail risks, fees, expenses, and other important investment terms.
Only qualified investors, like accredited investors who can prove their accredited status can invest in this Fund.
We also recommend talking to your own legal, tax, accounting, and financial advisors before investing.
No government agency has reviewed or approved these investments or this website. Any claim otherwise is against the law.

Future Outlook: This website might include statements about expected returns, market trends, or property performance. These are predictions and actual results could be very different. What happened in the past doesn't guarantee future results. We cannot promise specific investment goals will be met or that you will get your money back.
Investing in real estate has major risks. These include losing your money, difficulty selling your investment, market changes, unexpected renovation costs, tenants not paying rent, interest rate changes, and economic shifts. We cannot guarantee that the Fund will reach its goals or that you will get any money back from your investment.
This website is not meant for use in any place where local laws or rules would forbid it. The information here is not investment, legal, tax, or other professional advice. Do not rely on it as such.
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