Brown Paper Bag, LLC — Commercial Real Estate Syndication

About Us

Built on Partnership. Driven by Results.

Brown Paper Bag, LLC was founded by Valerie Carrington and Ty Brooks on a simple but powerful premise: the best real estate investments are made together. We build syndicates — carefully assembled teams of investors who pool their capital to acquire commercial real estate assets that would be out of reach for most individual investors. By combining resources, our syndicate members gain access to institutional-quality properties with the potential for outsized returns.

Our company is headquartered in Austin, Texas and Phoenix, Arizona — two of the fastest-growing metropolitan corridors in the American Southwest. We chose these markets deliberately. Both cities are experiencing explosive population growth, rapid job creation, and sustained economic diversification. Both states offer business-friendly regulatory environments with low taxes and streamlined permitting.

We target five proven asset classes: storage facilities, RV parks, mobile home parks, multifamily apartment complexes, and assisted living facilities. Each asset type is selected for its combination of strong cash flow, operational upside through hands-on management improvements, and the ability to benefit from the demographic tailwinds pushing population and economic growth across Texas and Arizona.

Our strategic partnership with Massive Capital — a firm with over $500 million in assets under management — is central to how we operate. This relationship gives our syndicates access to institutional-grade deal flow, rigorous financial modeling and due diligence, and experienced asset management oversight.

Every investment we make is guided by a single, measurable objective: doubling our investors' returns within three years. We accomplish this through disciplined acquisitions below market value, aggressive operational improvements that increase net operating income (NOI), favorable debt structures that amplify equity returns, and the powerful appreciation driven by population growth and economic expansion in our target markets.

At Brown Paper Bag, LLC, we believe wealth-building shouldn't be a "black box." We provide full transparency at every stage — from deal sourcing and due diligence through property management and your final payday. Our investors receive quarterly performance reports, annual K-1 tax documents, and direct phone access to Valerie and Ty at any time.

Valerie Carrington & Ty BrooksManaging Partners

Managing Partner

Valerie Carrington

Valerie leads syndicate strategy, investor relations, and capital formation. She brings deep expertise in Texas and Arizona commercial real estate markets and is committed to transparent, investor-first communication throughout every deal.

Managing Partner

Ty Brooks

Ty drives acquisitions, operations, and asset management across all five core asset classes. His hands-on approach to value creation — from property renovations to lease-up strategies — is the engine behind our 2× return target.

Strategic Partner

Massive Capital

$500M+

Assets under management. Massive Capital provides institutional-quality deal flow, financial modeling, due diligence, and asset management to every Brown Paper Bag syndicate.

Our Investment Focus

Five Asset Classes. One Clear Strategy.

We concentrate on five commercial real estate asset classes that share three characteristics: strong cash flow, significant operational upside, and powerful demographic tailwinds in Texas and Arizona.

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Storage Facilities

Self-storage is one of the most recession-resistant asset classes in commercial real estate. Low overhead, minimal staffing, month-to-month leases allowing rapid rate adjustments — storage facilities generate strong margins in both up and down markets.

In high-growth Sun Belt metros like Austin and Phoenix, demand is driven by constant population influx, small business activity, and life transitions.

Why Storage Works

60-70% operating margins — industry-leading profitability
Recession-resistant demand across all economic cycles
Month-to-month leases allow rapid rate capture
Scalable through technology, automation, and remote monitoring
Strong demand in Austin and Phoenix metros

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RV Parks

The outdoor hospitality sector has exploded as Americans embrace mobile lifestyles, remote work, and travel. Texas and Arizona are top destinations — year-round warm weather, extensive highways, and proximity to outdoor recreation create persistent demand.

We target RV parks where amenity upgrades, utility metering, and rate optimization create significant value-add returns.

Why RV Parks Work

Growing demand from retirees, remote workers, and digital nomads
Year-round Sun Belt occupancy — no seasonal shutdowns
Low capital expenditure per pad site
Multiple revenue streams: nightly, weekly, monthly, plus utilities
High barriers to entry — zoning limits new development

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Mobile Home Parks

Manufactured housing is the largest source of unsubsidized affordable housing in America. Tenants own their homes and pay lot rent — minimal maintenance or turnover costs for owners. Retention is exceptionally high because moving a manufactured home costs $5,000-$15,000+.

We target parks where professional management unlocks value: raising below-market rents, improving infrastructure, and filling vacant lots.

Why Mobile Home Parks Work

Tenants own homes — dramatically reduced landlord capex
70-80% tenant retention — relocation is expensive
Affordable housing demand at all-time highs
Below-market rents create immediate upside
Recession-resistant — affordable housing needed in all cycles

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Multifamily Units

Apartment complexes are the cornerstone of CRE syndication. In rapidly growing Austin and Phoenix, sustained population influx creates persistent rental demand. Combined with constrained new supply, the result is favorable occupancy and rent growth.

We focus on value-add multifamily deals where targeted renovations, amenity additions, and tighter expense management directly increase NOI.

Why Multifamily Works

Predictable cash flow from diversified tenant base
Strong rent growth in Austin and Phoenix
Substantial tax benefits via depreciation and cost segregation
Established financing markets with competitive terms
Deep comparable sales data for accurate underwriting

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Assisted Living Facilities

Assisted living is one of the fastest-growing CRE segments, driven by an unstoppable demographic wave: approximately 10,000 Americans turn 65 every single day, and the 75+ population is projected to nearly double over the next two decades. This is a structural, multi-generational shift that will drive demand for 20-30 years.

Assisted living facilities generate premium rents of $3,500 to $7,000+ per unit per month. Supply is constrained by complex licensing requirements, creating high barriers to entry for new competitors.

We target existing facilities in Texas and Arizona where we can improve occupancy through better marketing, enhance care quality, upgrade physical plant, implement efficient staffing, and build hospital and physician referral networks.

Why Assisted Living Works

10,000 Americans turn 65 daily — demographically guaranteed demand
Premium rents of $3,500-$7,000+/month per unit
High barriers to entry — licensing and regulation limit supply
Recession-resistant — families prioritize senior care
Top Sun Belt retirement destinations: TX and AZ
Long average stay (2-3 years) — stable, predictable revenue
Value-add through occupancy, rates, care quality, and operations

Strategic Markets

Why Austin, Texas & Phoenix, Arizona

These two metros share the three drivers of outsized CRE returns: rapid population growth, diversified economic expansion, and business-friendly state governments.

Austin

Texas

2.4M+

Metro Population

33%

Pop. Growth (10yr)

0%

State Income Tax

#1

Tech Hub Growth

Population Growth: Austin has grown ~33% over the past decade, adding 100-150 new residents per day driven by domestic migration from CA, NY, and IL — creating persistent demand across all five asset classes.

Economic Engine: Tesla (Gigafactory + HQ), Oracle (global HQ), Samsung (semiconductor fab), Apple, Google, Meta, Amazon, and Dell have created a diversified, high-wage economy spanning technology, clean energy, healthcare, defense, and manufacturing.

Business Climate: Texas has zero state income tax, streamlined permitting, pro-development policies, and right-to-work laws — continuously attracting businesses and workers.

Outlook: Population projected to grow 2-3% annually through 2030+. Limited land and rising construction costs constrain supply — creating sustained rent growth and appreciation.

No Income TaxPro-DevelopmentTop Tech Hub100+ Residents/DayTesla · Oracle · Samsung

Phoenix

Arizona

5M+

Metro Population

15%

Pop. Growth (10yr)

2.5%

Flat Income Tax

Top 5

Semiconductor Hub

Population Growth: The 5th-largest U.S. metro with 5M+ residents, adding 60,000-80,000 annually fueled by California migration.

Economic Engine: TSMC ($40B+ multi-fab complex), Intel ($20B+ expansion), plus financial services (AmEx, JPMorgan), healthcare (Banner, Mayo Clinic), aerospace (Raytheon, Honeywell), and growing tech sector.

Business Climate: Arizona's 2.5% flat income tax (reduced from 4.5%) is among the nation's lowest. Right-to-work, low regulatory burden, active corporate recruitment.

Outlook: Phoenix's scale + affordability provides an enormous base of renters, storage users, RV enthusiasts, manufactured housing residents, and aging seniors. Semiconductor investment drives a new wave of high-income workers over the next decade.

2.5% Flat TaxRight-to-WorkTSMC — $40B+Intel — $20B+5M+ MetroTop Migration Destination

Our Commitment

2×^returns

Double Your Investment in Three Years

Our syndication model is engineered around one target: doubling investor capital in three years. We accomplish this by (1) acquiring below replacement cost, (2) increasing NOI by 30-50%+ through operational improvements, (3) utilizing favorable fixed-rate debt to amplify equity returns, and (4) benefiting from population growth and economic expansion across Texas and Arizona. Every deal must model a clear path to 2.0× equity multiple under conservative assumptions before we commit capital.

How It Works

Your Path to 2× Equity: Next Steps

Investing in commercial real estate shouldn't be a "black box." We follow a disciplined, four-step process from initial interest to fully funded, high-yield asset.

1

The Strategy Session

Once you submit your inquiry, Valerie or Ty will schedule a 15-minute call. This isn't a sales pitch — it's a discovery session to understand your capital goals, timeline, risk tolerance, and whether our syndicates fit your portfolio.

2

Review the Offering Memorandum

If there's a match, we provide a detailed Investment Package with complete visibility:

✦Property analytics and "Path of Progress" data — demographics, supply/demand, comparables, and third-party appraisals

✦Financial projections backed by Massive Capital — year-by-year cash flow models, NOI scenarios, and sensitivity analyses

✦Clear 3-year exit strategy — how we increase value, when we sell or refinance, and projected returns

3

Secure Your Spot in the Syndicate

Once you've reviewed the OM and legal documents (PPM), you commit capital and join as a Limited Partner. Own a fractional share of a $10M+ asset alongside sophisticated investors — institutional exposure without solo ownership burden.

4

Passive Growth & Distribution

We handle property management, renovations, lease-up, and scaling. You receive:

✦Quarterly reports — financials, occupancy, NOI progress, capex updates, and market comparables

✦Tax-efficient distributions — structured via depreciation, cost segregation, and pass-through benefits

✦Annual K-1 tax documents — reflecting your share of income, deductions, and depreciation

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The Final Payday: Return your initial capital plus a 100% gain within 3 years through sale or refinance.

Ready to take the first step?

Schedule Your Strategy Session →

Investor Education

Financial Terms You Should Know

Understanding syndication language helps you evaluate deals and make smarter investment decisions.

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Cap Rate

Capitalization Rate

NOI divided by purchase price. A $100K NOI property at $1M = 10% cap rate. We target assets where improvements compress the cap rate on exit — making the property worth more when sold.

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Cash-on-Cash

CoC Return

Annual cash flow divided by cash invested. $8K on $100K = 8% CoC. Measures income yield while holding — the "dividend" of your real estate investment.

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IRR

Internal Rate of Return

Annualized return accounting for timing of all cash flows. The most comprehensive performance measure — factors in when you get money, not just how much.

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Equity Multiple

EM

Total returned / total invested. 2.0× = doubled your money. Our target includes all distributions plus profit from exit.

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NOI

Net Operating Income

Revenue minus operating expenses (excluding debt). The most important CRE number — determines property value, loan eligibility, and investor cash flow.

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PPM

Private Placement Memorandum

The legal document covering deal structure, returns, fees, risks, and rights. Every investor reviews and signs before committing capital.

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Limited Partner

LP — You

Passive investor. Contribute capital, receive returns — no day-to-day involvement. Liability limited to amount invested.

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General Partner

GP — Us

Brown Paper Bag, LLC. We find, acquire, finance, manage, and sell. We handle everything from sourcing to exit.

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Preferred Return

Pref

Minimum return to LPs before GP profits. Aligns incentives — we don't earn until you hit your pref first. Typical: 6-10% annually.

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DSCR

Debt Service Coverage

NOI / debt payments. 1.25× = 25% more income than the mortgage needs. Critical safety margin on every acquisition.

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Value-Add

Strategy

Buy underperforming assets, increase value through improvements. Drives NOI growth independent of market — the engine behind our 2× target.

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Cost Segregation

Tax Optimization

IRS-approved accelerated depreciation (5/7/15yr vs 27.5-39yr). Front-loads deductions to offset income — one of CRE's most powerful tax benefits.

Disclaimer: Educational purposes only. All investments carry risk including loss of principal. Consult your own financial advisor, CPA, and legal counsel before investing.

Frequently Asked Questions

Common Questions from Investors

Transparency builds trust. Here are honest answers to what we hear most.

A real estate syndication is a legal partnership between multiple investors who pool capital to acquire a commercial property. Brown Paper Bag, LLC serves as the General Partner (GP), handling deal sourcing, due diligence, management, and eventual sale. Investors participate as Limited Partners (LPs), contributing capital and receiving returns without day-to-day involvement. Each syndication is a separate LLC, isolating each deal legally.

Minimums vary by deal. Contact Valerie at 512.913.7231 or Ty at 737.267.9179 for specifics on current and upcoming opportunities.

Four drivers: (1) acquiring below replacement cost, (2) operational improvements increasing NOI 30-50%+, (3) favorable fixed-rate debt amplifying equity returns, (4) population growth in Austin and Phoenix. Every deal is conservatively underwritten with downside scenarios. Massive Capital provides modeling rigor.

Generally structured for accredited investors (SEC definition): net worth over $1M excluding primary residence, or annual income over $200K ($300K jointly) for the past two years.

Our strategic partner with $500M+ AUM. They provide institutional deal flow, professional financial modeling, comprehensive due diligence, and asset management oversight.

Three fundamentals: (1) rapid population growth from domestic migration, (2) diversified economic expansion — Austin's tech boom and Phoenix's semiconductor revolution, (3) business-friendly governance — TX 0% income tax, AZ 2.5% flat tax, both right-to-work.

Two sources: (1) quarterly cash flow distributions from operations, and (2) capital gains at exit through sale or refinance. Target: 2.0× equity multiple. Specifics in each deal's PPM.

All real estate carries risk including loss of principal. Key risks: market downturns, interest rate increases, unexpected capex, lower occupancy, illiquidity. We mitigate through conservative underwriting, reserves, strong DSCR, geographic diversification, and Massive Capital's management.

Quarterly reports (financials, occupancy, NOI, capex, comps), annual K-1s, and ad-hoc updates. Valerie and Ty are directly accessible by phone and email anytime.

Contact Us

Start Building Wealth Today

Ready to invest in Texas and Arizona commercial real estate? Schedule your free 15-minute strategy session — no obligation.

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Email

info@brownpaperbag.us

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Valerie Carrington — Managing Partner

512.913.7231

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Ty Brooks — Managing Partner

737.267.9179

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Office Locations

Austin, Texas · Phoenix, Arizona

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