Our Funds
Since 2015, SJS Real Estate Partners has launched six funds (SJS I–SJS VI) that collectively invested in 96 multi-family properties totaling 12,900 units across 14 states, acquired for approximately $960 million. Two of these funds, SJS I and SJS III, completed their investment cycles in 2022 and 2024 respectively, delivering strong results to investors over their hold periods. The remaining four funds are actively managed and are at varying stages of their hold periods.
Realized Funds
SJS Real Estate Partners, LLC
Launched in June 2015, SJS I was our first fund, investing in 6 multi-family properties totaling 365 apartment units, acquired for $19.2 million. Including all distributions, SJS I returned 250% of invested capital back to its investors between Q4 2015 and Q1 2022, including quarterly distributions of income, cash-out refinancings, and sales of all properties. SJS I’s investors’ return on investment (ROI) averaged 23% per year over the 6½-year life of their investment.
SJS Real Estate Partners III, LLC
Following SJS I (and SJS II), SJS III was launched in December 2016, investing in 21 apartment properties totaling 2,651 units, purchased for over $120 million. After totaling all distributions, SJS III returned 195% of invested capital back to its investors between Q1 2017 and Q2 2024, including quarterly distributions of income, cash-out refinancings, and sales of all properties. SJS III’s investors’ ROI averaged 14% per year over the 7-year life of their investment.
Active Funds
SJS Real Estate Partners II, LLC
SJS II was our second fund. Launched in March 2016, SJS II invested in 11 multi-family rental properties with 1,557 apartment units, acquired for approximately $70 million. After totaling all distributions, including quarterly distributions of income, cash-out refinancings, and sales of 10 of the properties, SJS II has returned 132% of invested capital to date. SJS II will make its final distribution to investors in 2026 from the planned sale of the remaining 216-unit property which has substantial equity.
SJS Real Estate Partners IV, LLC
SJS IV was launched in January 2018, investing in 31 multi-family properties with 4,427 apartment units acquired for approximately $264 million. The portfolio included a new 128-unit ground-up development project that was completed in November 2020, and proved to be very successful. SJS IV has already returned approximately 100% of invested capital back to investors, and still has 12 properties (1,889 units) in its portfolio with substantial equity. That’s a great position to be in, and plans are to sell all 12 properties for investors in 2026.
SJS Real Estate Partners V, LLC
To continue the momentum, SJS V was launched in September 2019 and, by September 2022, invested in 14 multi-family properties totaling 2,231 apartment units, purchased for approximately $211 million, plus a 40-acre land parcel intended for the development of up to 250 additional units. Since inception, SJS V has made distributions of income to investors for every quarter. As those distributions of income continue, the plan is to sell all 14 properties beginning in 2026 through 2028, so investors can look forward to additional distributions from the equity realized as each property is sold.
SJS Real Estate Partners VI, LLC
SJS VI was launched in June 2022 and, by the end of 2025, invested in 12 multi-family apartment properties, including 3 new development projects, which together are expected to total 1,668 units, acquired for approximately $288 million. Having deployed its capital with the final acquisition in December 2025, SJS VI is in the early years of its hold period. Since inception, SJS VI has made distributions of income to investors for every quarter, and as additional properties are completed and stabilized, investors can look forward to increasing distribution capacity alongside ongoing value creation in the years ahead.