Investment
We invest alongside our partners, in the county we live in.
Commercial property across Washington County, bought to hold. JMI capital goes into the same deals we bring partners, and the people underwriting a project are the people running it afterward.
The market
One county, known street by street.
Washington County is one of the fastest growing areas in the country. The population went from 180,279 at the 2020 census to an estimated 213,670 by July 2025, a rise of more than eighteen percent in five years. That growth has not landed evenly across the county. Which corners fill in first, which interchanges pull traffic, and which areas the city intends to serve next are all taken into consideration to determine how a site may perform.
We keep a constant read on how the forecasts move. Long-range projections for this county get revised every few years, and each revision tells us something about the shape of the next thirty or forty. Buying property to hold means planning against that horizon, well past the next five or six years.
Growth that fast moves the map. A corridor that was quiet five years ago carries real traffic now, and a parcel that made little sense in 2015 sits in the middle of something today. Reading that correctly takes attention paid over years, and no report pulled at closing will show it.
We have been investing in Washington County since 1935. We are rarely guessing about a location. We own investments through full cycles and have seen what the area has done around them.
What we buy
Six kinds of acquisition, on different clocks.
The first three produce income the day we take them over. The last three take longer, because something has to get built or fixed before they do. A partner should know which one a project is before anything else gets discussed.
Retail centers
Neighborhood and community centers built to serve the homes around them. Income starts at closing, and the work is holding the tenant mix together as leases roll.
Office and medical
Professional space built for tenants who plan to stay. Longer leases and slower turnover than retail, and higher cost to re-fit a suite when someone does leave.
Industrial and flex
Buildings for manufacturers and distributors, including the power and yard space they need on day one. Simpler to maintain and harder to replace, since the utility capacity is not easy to add later.
Value add
Property underperforming for reasons we can fix, usually vacancy, deferred maintenance, or a tenant mix that stopped working. Income improves as the fix lands, generally over one to three years.
Build to suit
A building designed around one tenant's operation, on ground we already control, with the lease signed before construction starts. Income begins when the tenant opens, so the timeline is the construction schedule.
Land for development
Ground carried through entitlement and built out when the demand around it arrives. The longest horizon of anything we buy, and the one where patience does most of the work.
We buy inside this county and we plan to keep what we buy. Partners looking for a three to five year exit are better served elsewhere, and we would rather help you work that out now than halfway through.
Alignment
Our money is in the same deal.
JMI capital goes into the projects we bring partners, so a decision that costs the partnership costs us at the same time. We invest in you as much as you invest in us.
We operate what we underwrite
The people who price a deal are the people who will lease it, maintain it, and answer for it in year fifteen.
We make money the way you do
Our return comes from owning property that performs over a long time.
We sell when it makes sense
No clock forces a sale. That helps when markets are soft and it is a constraint when you want liquidity, so weigh it both ways.
You can walk the property
Everything is close enough to visit. Partners are welcome at any property and welcome to ask the person managing it whatever they want.
Investing with us
How it usually goes.
Opportunities come up as they come up. There is no continuous fund, so most of this starts with a conversation well before there is anything to look at.
An introduction
We talk about what you are looking for, your timeline, and how much of the decision making you want to be part of. Nothing is offered at this stage.
Eligibility
Most opportunities are limited to accredited investors. We will help you work out where you stand and what verification involves before anything is shared.
A specific opportunity
When something fits, you see the property, the underwriting, and the structure. Bring your own advisors. We expect it and we build the time into the schedule.
Documents and funding
Subscription documents, entity formation where needed, and funding. Participation levels vary by project, and we will go over what a given opportunity requires when we get there.
Ownership
Reporting, distributions once a property is stabilized, and access to the people running it. Covered below.
1031 exchange
You have a clock running. We know.
Identifying replacement property inside forty-five days is hard work, and harder in a market you do not live in. We hold commercial property across Washington County and can let you know quickly if something fits.
Call before you are inside the window if you can. If you are already inside it, call anyway and tell us the date. We will look at it with you honestly and tell you if it cannot finish in time.
After you invest
What ownership looks like here.
Understand this part before you commit, not once you are in.
Reporting
Regular statements covering how a property is performing, what changed, and where the numbers came from. You will know the schedule before you commit.
Distributions
Paid once a property is leased and stabilized. Timing depends on the property, and we will walk you through the expectation before you commit.
Tax documents
You receive what you need to file, on a schedule we set out ahead of time. If your accountant needs something else, ask and we will get it.
Access
You can call the person managing the property directly. The people doing the work are the people you talk to.
Liquidity
These are illiquid positions with no secondary market. Plan on a long hold, since that is the whole model.
Risk
Tenants leave, costs rise, and construction runs into conditions nobody planned for. Concentrating in one county cuts both ways.
