A Scottsdale-based investment and development firm is partnering with HGTV star Tarek El Moussa on a fund to buy apartments and is also growing its investment presence in industrial real estate.
Chris Hanson, founder of Hanson Capital Group LLC, started his company in 2008, buying houses from foreclosure. Since then, the company has grown into an investment, development and banking platform, and had mostly focused on multifamily real estate. Now, Hanson is raising money for two investment funds, including one with El Moussa. Both funds aim to raise $100 million each to buy value-add real estate assets and development opportunities.
El Moussa, star of HGTV’s "Flip or Flop" and "Flipping 101," and Hanson had some mutual friends, and they had begun working together at the beginning of the Covid-19 pandemic. El Moussa did not have previous experience investing in apartments until partnering with Hanson on an investment in 2020, Hanson said.
El Moussa brings brand awareness to the fund, which has focused on value-add multifamily investments that are about 100 units in size.