Santa Barbara · Multifamily value-add
The firm
Driven Capital Partners is a Santa Barbara based real estate firm. We acquire and operate value-add commercial properties for our principals and investor partners.
We focus on Santa Barbara multifamily. Local ownership, in-house design and construction, and hands-on property management let us force appreciation through rent increases, unit renovations, ADU development, and adaptive reuse. We also hold Midwest industrial assets with a strong basis and leasing upside.
Selected assets
Holding · Active value-add
Heavy value-add redevelopment at 210 W Yanonali. Six boutique suites steps from the Funk Zone and two blocks from the beach. Taken down to the studs, with practically everything in the building now brand new. We operate and optimize the asset with hands-on local ownership.
Sold · Dec 2022
Adaptive reuse in a prime downtown Santa Barbara location. We converted office to 23 multifamily units and added much needed housing in a dense multi-use zone.
24% IRR · 2.3x equity multiple · ~3.8 yr hold
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Sold · Aug 2022
165,171 square foot multi-tenant industrial distribution center on ~9 acres. 100% occupied by four established tenants in the North Riverfront Logistics Hub, with proximity to major railroads, freeways, and the port of St. Louis.
35% IRR · 1.48x equity multiple · ~1.35 yr hold
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Holding · In portfolio
140,000 square foot multi-tenant industrial med-tech center on 10.5 acres. 100% occupied by eight established tenants, with flexible construction and proximity to white collar employees in an affluent Minneapolis suburb. We hold for cash flow and leasing upside on a strong basis.
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Holding · In portfolio
Opportunity Zone investment across two projects, The Lofts and Alvin Newton Apartments: about 186 apartments and ~6K sq ft of commercial. The Lofts is adaptive reuse (104 loft-style apartments). Alvin Newton is new construction (82 market-rate units plus ground-floor commercial). Business plan: lease up, stabilize, and complete the value-add.
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Holding · In portfolio
119,332 square foot multi-tenant industrial flex property spanning 12 acres. Six high-quality tenants, including Eaton Corporation (NYSE: ETN), Sherwin Williams (NYSE: SHW) and Gexpro (OTC: RXEEY), with excellent freeway accessibility and prime signage. We hold for cash flow and leasing upside on a strong basis.
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Holding · Active value-add
Value-add multifamily in a walkable Santa Barbara rental neighborhood. We acquired 17 units and completely rebuilt the property, adding four new units for 21 total. Business plan: raise rents annually and renovate units as they turn, with in-house design, construction, and property management.
View case studyTrack record
Strong performance across Santa Barbara multifamily and our industrial holdings.
Principals
At the age of 20 Matt got his real estate license, sold his childhood home for a tidy profit, and has been hooked on real estate investing ever since. Matt began his real estate investing journey acquiring and renovating single family and small multifamily properties, forcing value through physical improvements and efficient property management. His strategy was to purchase undervalued properties in desirable neighborhoods and improve them, thereby increasing cash flow and the value of the underlying real estate. Matt brings this same simple but effective approach to larger commercial properties via Driven Capital Partners.
Matt has enjoyed a successful entrepreneurial career spanning the finance, real estate and technology industries. Prior to founding DCP, Matt spent 6 years at Facebook where he developed programs to introduce the internet to the poorest countries in the world via Facebook’s Internet.org initiative, developed Facebook’s original Facebook for iOS app and launched a subscription business model for video content creators. Prior to Facebook Matt founded and exited two music technology companies after beginning his career as an investment banking analyst.
Matt has a B.A. in Economics from the University of California, Davis.
Dan has actively invested in real estate since 2011, focusing on well located investments with strong cash flow in markets from California to Texas. In 2017, Dan began divesting his Single Family Residence portfolio to focus on commercial real estate acquisitions. Dan started investing in syndications, allowing him to further diversify his holdings in Class A Student Housing developments in downtown Los Angeles.
At Driven Capital Partners, Dan runs the firm’s general contracting business and oversees all construction. He also leads asset management and investor relations. He manages the portfolio carefully and implements each property’s business plan.
Dan retired from a 12 year professional soccer career in 2017 where he most recently played for the LA Galaxy. Dan was selected by his peers to represent Major League Soccer players as an Executive Board member for the players association. In this role he was responsible for Collective Bargaining Agreement negotiations, strategic planning, executive team building and budget approval. As a former athlete, Dan is passionate about educating all professional athletes on real estate investing and the tremendous benefits of establishing a strong real estate portfolio leading into life after an athletic career.
Dan has an MBA from the USC Marshall School of Business.
Investor voices
I’ve worked on many real estate projects with DCP over the past 5 years, and they have exceeded my expectations each time. Every project I’ve invested in has delivered on time and on the projection. Very professional and highly knowledgeable.
It is a rare combination when you find a team that not only has depth of knowledge, analytic abilities, understanding of market conditions, and hands-on experience with real estate investment, but also has emotional IQ and communication skills to connect with you on a personal level.
DCP opened my eyes to the ability to access leveraged investments via self directed IRA funds. Thorough due diligence and measured risk in the right market made this an easy decision for me and my family.
Invest with DCP
Invest alongside our principals in Santa Barbara value-add deals. Request access and we will share current offerings.