Modern multifamily development
Multifamily Real Estate Investment, Development & Management

Building conviction
where others see
complexity

The Tanbic Company acquires and develops multifamily real estate with a focus on a disciplined basis, market timing, and execution. Through our management platform, Stellar Residential, we operate more than 5,000 units across the Sunbelt. After successfully exiting our investment portfolio in 2022 ahead of the broader market correction, we are now selectively acquiring assets that meet our disciplined investment criteria.

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63.4% · 61.9% · 26.3% · 17.8%
Last Four Multifamily Exit IRRs
Investment Thesis

Discipline first, then conviction

We combine data-driven insights on high-growth markets with disciplined risk mitigation, prudent leverage, and active, vertically integrated management. This strategy has consistently outperformed the broader market, evidenced by over 40% average NOI growth across our portfolio. In 2022, we executed a strategic divestment of our entire portfolio rather than pursuing 1031 exchanges – a decision centered on capital preservation ahead of the broader market correction.

01
Supply-Demand Asymmetry

We target markets where population growth, wage expansion, and regulatory barriers create durable rental demand that consistently outpaces new supply. We look for submarkets with strong household formation, limited competitive pipeline, and favorable rent-to-income dynamics — and we actively seek mismanaged assets where hands-on operations can immediately impact the bottom line.

02
Cycle Discipline

In 2021 and 2022, we elected to sell our entire multifamily portfolio rather than execute 1031 exchanges, concluding that market conditions would decline further than the cost of capital gains tax. We apply the same underwriting discipline to rent growth and operational assumptions, stress-tested exit scenarios, and a clear path to value creation before committing capital.

03
Vertical Integration

Through our proprietary property management platform, Stellar Residential, we maintain direct control of asset performance from day one. This alignment eliminates the agency risk inherent in third-party management and accelerates stabilization timelines.

04
Capital Partner Alignment

We invest meaningful GP equity alongside our partners and structure performance-based promotes that ensure alignment through the hold period. Our investor base comprises a diverse group of family offices, institutional allocators, and private client investors.

Performance

Most Recent Multifamily Exits

Our track record is defined by consistent operational outperformance. Across our entire portfolio, actual performance has exceeded initial underwriting, with key metrics – including NOI growth and operating expense management – consistently yielding positive variance against our original projections.

Centerra Apartment Homes, Scottsdale
Value-Add Multifamily
Centerra
Scottsdale, Arizona
61.9%
Deal IRR
3.50×
Equity Multiple
+68%
NOI Growth
2.7 yr
Hold Period
$14.0M equity → $49.3M distributed. Acquired for $36.25M, sold for $74.75M. Averaged 6.6% annual cash yield throughout hold period. Sold for record price per unit in the Sunbelt.
Winfield at the Ranch, Prescott
Ground-Up Development
Winfield at the Ranch
Prescott, Arizona
63.4%
Deal IRR
3.92×
Equity Multiple
$35M
Sale Price
2.9 yr
Hold Period
$5.4M equity → $22.1M distributed. Sold for $35M. Highest price per square foot in Arizona for garden-style at time of sale.
Timberline Place, Flagstaff
Core-Plus Multifamily
Timberline Place
Flagstaff, Arizona
26.3%
Deal IRR
2.46×
Equity Multiple
+13.6%
NOI Growth
4.0 yr
Hold Period
$7.5M equity → $18.5M distributed. Consistent quarterly distributions at 7.0% annual cash yield throughout hold period.
The Winfield of Scottsdale
Value-Add Multifamily
The Winfield of Scottsdale
Scottsdale, Arizona
17.8%
Deal IRR
1.73×
Equity Multiple
+39%
NOI Growth
3.6 yr
Hold Period
$7.7M equity → $13.3M distributed. Consistent quarterly distributions at 7.1% annual cash yield throughout hold period.
Commercial Real Estate: Arlington Tower (Office | Arlington, TX), Rockwell Land (Development | Rockwell, TX), and regional Self-Storage facilities (Sherman, TX & Prescott, AZ). Alternative Housing: Parsons House Frisco (Senior Living | Frisco, TX) and Friendship Villas (Senior Housing | Tucson, AZ). Strategic Venture Capital: SAVE (Fintech) and RESC Renewables (Sustainable Aviation Fuel Production).
Operational Integration

Complete Operational Control Across the Asset Lifecycle

From ground-up development to strategic acquisitions, Tanbic internalizes 100% of property management through Stellar Residential. By eliminating third-party management friction, we ensure absolute alignment and execution velocity. This vertically integrated approach has driven a historical performance of operating expenses averaging 4.3% below underwritten proforma and over 40% average NOI growth portfolio-wide.

Investment & Development
The Tanbic Company

Tanbic serves as General Partner across all partnership structures, directing every phase of the investment lifecycle—including sourcing, entitlement, capital structuring, construction oversight, and investor relations. We maintain rigorous fiduciary alignment and hands-on management from initial acquisition through ultimate asset disposition.

In-House Management
Stellar Residential

Our property management platform is anchored by institutional-grade leadership. Stellar is led by Dale Phillips, who served as President of Mark-Taylor Residential for 17 years, and Ben Carter, CFO, whose executive experience at Ventura Investment Company and Wedgewood spanned a $2 billion portfolio. Together, they bring decades of institutional pedigree from premier firms including Prudential, UBS, Wood Partners, and Trammell Crow Residential. Today, the platform oversees more than 5,000 active units, with an additional 2,000 units in the development pipeline.

Tanbic | Stellar
Target Markets

Sunbelt & Mountain West Growth Corridors

We strategically allocate capital into high-growth markets characterized by robust macroeconomic demand drivers, favorable supply dynamics, and clear trajectories for value creation. While our foundational operational footprint is anchored in Arizona, we selectively target high-conviction opportunities across the broader South, Southwest, and Mountain West.

Phoenix Arizona sunset
Leadership

Grounded in Operations, Driven by Discipline

Tanner Bickelhaupt
Tanner Bickelhaupt
Founder & CEO

Tanner Bickelhaupt founded The Tanbic Company in 2015, bringing a deep background in large-scale real estate acquisition, deployment, and capitalization. He previously served as Director of Real Estate for Black Rock Development, where he directed an investment and management portfolio spanning 44 distinct entities with an aggregate asset valuation exceeding $550 million. Over his career, his transaction and operational track record encompasses 61 properties totaling 11,529 units, alongside the successful syndication of more than $250 million in private equity capital.

To eliminate third-party operational friction and optimize asset performance, Tanner co-founded Stellar Residential, internalizing property management capabilities across the Tanbic footprint. Under his strategic oversight, the vertically integrated platform has expanded to oversee more than 5,000 active units, with an additional 2,000 units in the current development pipeline. He acts as General Partner across all active Tanbic investment vehicles.

Underscoring his broader corporate advisory experience, Tanner serves as a board member for Save®, an SEC-regulated fintech platform backed by BNP Paribas. He resides in Scottsdale with his family.

Education
Gonzaga University
B.A., Business Administration & Marketing
Prior Role
Director of Real Estate
Black Rock Development
Capital Raised
$250M+ in private equity
$500M+ in acquisitions
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Partner With Us

Aligning strategic capital with disciplined execution

We partner with family offices, institutional allocators, and private client investors who value rigorous underwriting, alignment, and direct communication.

invest@tanbic.com
480.980.9192