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The Deal Makers - An Agora production podcast
The Deal Makers, an Agora production podcast, is a platform for leaders in the commercial real estate industry to share their personal stories of success and failure, business insights, and industry secrets because we believe in spotlighting the real people behind the deals. In The DealMakers, we will shine a light on the people behind high-performing real estate deals, unveil behind-the-scenes stories you’ve never heard before, and discuss growth opportunities for real estate investment experts.
If you’re looking to learn more about top-performing GPs in America and how they MAKE deals, this podcast is for you!
The Deal Makers - An Agora production podcast
S3E21- Sam Morris - Is 2025 the new 2010 for multifamily investors?
In this episode of the Dealmakers Podcast, host Asaf Raz chats with Sam Morris, Partner at Lone Star Capital, about navigating today’s multifamily market with discipline and long-term focus. Sam shares his journey from banking and underwriting to raising capital and leading large-scale workforce housing investments in Texas. He offers candid insights into investor sentiment, shifting competition dynamics, and why focusing on resident experience remains the key to success—regardless of market noise. Sam also discusses why Lone Star hasn’t closed a deal since December, how competition is heating back up, and why this moment in real estate reminds him of 2010.
Chapters:
00:01 – Introduction to Sam Morris and Lone Star Capital
01:03 – Lone Star’s portfolio and focus on workforce housing
02:05 – The firm’s niche, growth strategy, and entry into new markets
04:27 – Sam’s background: Banking, underwriting, and capital raising
06:22 – Transitioning from underwriting to fundraising
09:10 – How Lone Star filters out macro noise to stay resident-focused
13:00 – LP sentiment in volatile markets
15:00 – Fundraising strategy and current deal pipeline
17:02 – Competition, market activity, and what’s changing in Texas
20:17 – The return of bidding wars and positive leverage
23:20 – Why today reminds Sam of 2010
24:58 – Shameless Plug: Co-GPs, LPs, and equity partners welcome
Get in touch with Sam:
LinkedIn: Sam Morris
Website: Lone Star Capital
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