https://www.investdelphi.com/home daily 1.0 2025-12-11 https://www.investdelphi.com/investment-strategy daily 0.75 2024-03-18 https://images.squarespace-cdn.com/content/v1/5f17d8e868c3500ef88b1361/1622009192496-BGJ4HRY6TK9FP5LNE9BI/Investment+Strategy+2.jpg Investment Strategy https://images.squarespace-cdn.com/content/v1/5f17d8e868c3500ef88b1361/1622009302025-7Y8EDO8M03WQ86UKR73M/Investment+Strategy+3.jpg Investment Strategy - Quality real estate meets value-add Above all else, our acquisition strategy centers on buying quality real estate in neighborhoods with positive attributes and long-term trends. Secondly, we focus on identifying opportunities where we can add value, such as through capital improvements, unit upgrades, better management, and strategic capitalization. https://www.investdelphi.com/about daily 0.75 2024-03-18 https://images.squarespace-cdn.com/content/v1/5f17d8e868c3500ef88b1361/1606631808740-ZLXU6MF0F6TS259LF72N/Screen+Shot+2020-11-28+at+10.28.37+PM.png Who We Are - Scaling up Delphi’s current focus is to expand its operations, focusing on single-family rentals and small to midsize multifamily properties in high growth markets, including Arizona, Nevada, and Colorado among others. Targeted acquisitions generally range from 40 to 120 units and $5 to 20 million. Rather than luxury residential, the platform is centered on Workforce Housing, a highly inefficient market with less sophistication and institutional involvement compared to Class A product. https://images.squarespace-cdn.com/content/v1/5f17d8e868c3500ef88b1361/1622008811361-0O0KMRDWO8XRPPD8Q3JQ/Who+We+are+-+apt+shot.jpg Who We Are - Assets under management Since its inception in 2012, Delphi has owned and managed approximately 300 units totaling over $40 million in value on behalf of over 60 unique investors. In the midst of the coronavirus pandemic, Delphi was able to provide average distributions of over 6.0% on equity, and to date, realized returns have averaged a 34.7% IRR and a 2.7x equity multiple. Currently, Delphi owns and manages 225 units across six properties in Arizona, Nevada, and Colorado. https://images.squarespace-cdn.com/content/v1/5f17d8e868c3500ef88b1361/e02bb2ce-7e9e-4050-be94-5447d8742783/BG%252Bwebsite%252Bphoto.jpg Who We Are - Bryan Graves, Managing Partner Tobias Keene, D.D.S. Hailing from Richmond, Virginia, Dr. Tobias Keene brings a bit of unabashed Southern hospitality to all his patients. He moved to Washington, D.C. over thirty years ago as a freshman at Ivy College. Right after graduation, he attended World University’s School of Dentistry. Before opening Keene Dental in 1994, he worked for free clinics and some of the finest practices in the District. He is part of the 123 Dental Association and stays up-to-date on the latest dental discoveries. When not striving to keep his patients happy and healthy, he’s enjoys hiking with his family in Rock Creek Park. https://images.squarespace-cdn.com/content/v1/5f17d8e868c3500ef88b1361/374c9e3e-6933-46ce-89c0-bc2fac73a508/Eric+updated+professional+photo_B%26W.jpg Who We Are - Eric Leimbach, Managing Partner Eric has over 20 years of experience in real estate investment, finance, asset management, and property management. Over his tenure with Citibank and Wells Fargo Commercial Real Estate platforms, Eric structured and originated financing for over $4.0 billion in residential housing projects, including construction, acquisition/rehabilitation, and permanent period loans. At both Wells and Citi, Eric specialized in the finance of affordable and workforce housing using a variety of capital structures, including credit enhanced and non-credit enhanced private placements. In addition to loan structuring and originations, Eric was responsible for portfolio purchases and sales, loan underwriting, asset management, property management, and process & compliance management. Eric graduated from the University of Pennsylvania with a B.S. in Economics and minor in Chemistry. In his spare time, he enjoys cycling, hiking, and river rafting as well as cheering on the San Francisco Giants and 49ers. Eric lives with his wife, daughter, and son in Berkeley. https://www.investdelphi.com/contact daily 0.75 2020-11-30 https://www.investdelphi.com/investment-strategy-1 daily 0.75 2024-03-26 https://images.squarespace-cdn.com/content/v1/5f17d8e868c3500ef88b1361/51a9c4c1-1349-4a41-9716-06fe550452f7/Screen+Shot+2024-03-19+at+11.15.41+AM.png Targeted Geographies - Population growth Decade after decade Arizona and Nevada have led the nation in population growth, benefitting from a high quality of life, low cost of living, warm climates, low taxes, and significant domestic in-migration, especially from high-cost and tax-prohibitive areas in California and the Midwest. Colorado, too, has far outperformed the broader nation. Among cities with over 1 million residents, Phoenix led the nation in 10-year population growth from 2010-2020, at 11.2%, and during the decade, surpassed Philadelphia to become the nation’s fifth largest city. https://images.squarespace-cdn.com/content/v1/5f17d8e868c3500ef88b1361/30c5d55c-1996-4093-b81e-0d4399456369/Screen+Shot+2024-03-19+at+2.18.23+PM.png Targeted Geographies - Employment and personal income growth Not only have new households grown rapidly in Arizona, Nevada, and Colorado over the years, but new businesses have as well, given the pro-business climate. Employment and personal income growth in each state has consistently outperformed the nation. Phoenix and Denver are well-diversified at this point with no sectors comprising more than one-fifth of either metro’s employment activity. And while Nevada (Las Vegas at least) is well-known as an international tourism draw, the state added meaningful economic drivers recent years, including Apple, Amazon, Tesla and Google, as well as the state’s first two major professional sports teams, the Las Vegas Knights (NHL) in 2017 and the Las Vegas Raiders (NFL) in 2020. https://images.squarespace-cdn.com/content/v1/5f17d8e868c3500ef88b1361/1606628467742-ABO3ZS61C87TBGZAEBRC/tucker-monticelli-N1kECeuvhGA-unsplash.jpg Targeted Geographies - Well positioned for the next cycle Unlike the Great Recession, during which the Arizona, Nevada, and Colorado economies experienced long drawn out downturns due to fundamental economic problems, the fundamentals of each state’s economy were quite strong leading into the COVID-19 pandemic, and continue to be strong coming out of it. There was no real estate asset bubble leading into the world health crisis, no massive oversupply, and no financial market turmoil. Looking forward, the Federal Reserve is now preparing to embark on a path of monetary easing. In such an environment, Delphi believes the regional economies and housing markets in Arizona, Nevada, and Colorado will quickly regain their positions among the top performing markets in the country. As such, Delphi is focused on seizing opportunities to acquire well-located assets in these markets at favorable pricing, and to benefit from resumed growth, which we expect will be quite rapid in the months and years ahead. https://images.squarespace-cdn.com/content/v1/5f17d8e868c3500ef88b1361/52144b7f-e425-482b-8235-c3604249f3e8/Screen+Shot+2024-03-26+at+2.32.21+PM.png Targeted Geographies https://images.squarespace-cdn.com/content/v1/5f17d8e868c3500ef88b1361/1606627867617-MSRBIWSO6O4NNW7LJ9U1/sung-shin-sNLdpqkr2YE-unsplash.jpg Targeted Geographies - Where we go from here Despite initial predictions of massive distress due to the Federal Reserve’s rate hiking campaign to combat inflation, very few forced sales have actually materialized over the past two years. Unlike the distress that was seen during the Great Recession, which was caused by loose lending practices and massive oversupply, today’s residential market is characterized by substantial and systematic undersupply. With continuing obstacles to building, including land use restrictions, constant labor shortages, and supply chain issues leading to rising material costs, the housing undersupply is expected to persist, and such undersupply should be a major boon for the rental housing market for years to come. With interest rates now projected to gradually decline over the next 18-24 months, we expect attractive opportunities will arise, particularly in high growth markets such as Arizona, Nevada, and Colorado. This environment will benefit investors and owner-operators who can navigate limited inventory, source appealing value-add opportunities, execute on plans for property improvements, and deliver superior returns. With the track record to back it up, Delphi is well-positioned and poised to deliver. https://www.investdelphi.com/track-record daily 0.75 2024-08-08 https://images.squarespace-cdn.com/content/v1/5f17d8e868c3500ef88b1361/82c4d064-c46e-4bef-9bd0-117267883ae2/Money+shot.jpeg Track Record https://images.squarespace-cdn.com/content/v1/5f17d8e868c3500ef88b1361/83e112ca-cd28-4e5e-b2e5-dacb43405e39/Kirman.jpg Track Record https://images.squarespace-cdn.com/content/v1/5f17d8e868c3500ef88b1361/fe9464ea-2548-4726-a0ee-fc281a3d9cb7/Orange+Blossom+Sunkissed.png Track Record https://images.squarespace-cdn.com/content/v1/5f17d8e868c3500ef88b1361/d12bac43-805d-42bc-8cc5-a07fc06bc203/Money+Shot+1.jpg Track Record https://images.squarespace-cdn.com/content/v1/5f17d8e868c3500ef88b1361/7a05aa09-c27a-4183-8db8-892f59956557/Street+Shot.png Track Record https://images.squarespace-cdn.com/content/v1/5f17d8e868c3500ef88b1361/831ab0f0-aab2-4a60-8d32-ee8f530dcf2f/DSC06493.jpeg Track Record https://images.squarespace-cdn.com/content/v1/5f17d8e868c3500ef88b1361/dd0001a4-43e3-4de1-ba64-85a7cfbc6e55/Osborn+17.jpg Track Record https://images.squarespace-cdn.com/content/v1/5f17d8e868c3500ef88b1361/3237d2c7-3145-4e51-9f40-4806234f6c11/Orange+Blossom+3.jpg Track Record https://images.squarespace-cdn.com/content/v1/5f17d8e868c3500ef88b1361/c2c3ba6f-ad35-4e2a-859f-067d3e6f6f3c/646-N-10th-Ave-Phoenix-AZ-Courtyard-1-LargeHighDefinition.jpg Track Record https://images.squarespace-cdn.com/content/v1/5f17d8e868c3500ef88b1361/2f7bc384-952b-41f6-9094-11a6344de15c/5121+Woodmont.png Track Record https://images.squarespace-cdn.com/content/v1/5f17d8e868c3500ef88b1361/653b5d43-0f89-4c98-aca7-e8f52fe35154/Limestone+pic.png Track Record https://images.squarespace-cdn.com/content/v1/5f17d8e868c3500ef88b1361/9419da3d-18e6-459e-b19d-7822d3b91fa8/DVGF+pic.png Track Record https://www.investdelphi.com/reviews daily 0.75 2020-11-29 https://www.investdelphi.com/who-we-are daily 0.75 2020-11-28 https://images.squarespace-cdn.com/content/v1/5f17d8e868c3500ef88b1361/1606548879829-B9XBKMO4BGJ5FYA4EC7Q/matthew-hamilton-qAEp-7qpGs8-unsplash.jpg Who We Are (Copy) - Who we are Delphi’s principals have a combined 30 years of experience across real estate investment, finance, development, brokerage, & asset management. Over the course of our careers, we have managed or financed approximately $5 billion of residential real estate across 300 properties in 15 states. https://images.squarespace-cdn.com/content/v1/5f17d8e868c3500ef88b1361/1600627162397-OV71UX9L1HSRSOKHDVI2/BG%252Bwebsite%252Bphoto.jpg Who We Are (Copy) - Bryan Graves, Managing Partner Tobias Keene, D.D.S. Hailing from Richmond, Virginia, Dr. Tobias Keene brings a bit of unabashed Southern hospitality to all his patients. He moved to Washington, D.C. over thirty years ago as a freshman at Ivy College. Right after graduation, he attended World University’s School of Dentistry. Before opening Keene Dental in 1994, he worked for free clinics and some of the finest practices in the District. He is part of the 123 Dental Association and stays up-to-date on the latest dental discoveries. When not striving to keep his patients happy and healthy, he’s enjoys hiking with his family in Rock Creek Park. https://images.squarespace-cdn.com/content/v1/5f17d8e868c3500ef88b1361/1600627419863-90LNWNLOMQ7R97YCW0SH/Eric%2Bprofessional%2Bphoto.jpg Who We Are (Copy) - Eric Leimbach, Managing Partner Prior to founding Delphi, Eric worked as a Senior Vice President on Wells Fargo's Commercial Real Estate platform. At Wells, Eric was responsible for originating construction and permanent period mortgage loans and related structured financings with a specialty in multifamily affordable housing. He has financed new construction and acquisition/rehabilitation projects using a variety of capital structures, including credit enhanced and non-credit enhanced private placements. Over the past 16 years, Eric has structured and originated financing for over $3.5 billion in multifamily housing. In addition to originating all loans, Eric's other responsibilities have included portfolio purchases and sales, loan underwriting, asset management, property management and process management. Eric graduated from the University of Pennsylvania with a B.S. in Economics and minor in Chemistry. In his spare time, he enjoys cycling, hiking, and river rafting as well as cheering on the San Francisco Giants and 49ers. Eric lives wth his wife and young daughter in Berkeley.