The Tanbic Company
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Investment, development and operations aligned from day one.
Capital deserves a reason.
The Tanbic Company
We acquire and develop multifamily real estate where disciplined basis, market timing and in-house execution can create durable value.
Tanbic is the investor, developer and general partner. Through Stellar Residential, we are also the operator. The feedback loop starts before acquisition and stays intact through exit.
Tanbic × Stellar Residential
Tanbic underwrites and develops. Stellar operates. One ownership perspective across the entire investment.
Through Stellar Residential, real-time property performance informs every Tanbic decision—from the first model to the final exit.
Tanbic
Investment · Development · Capital
Operations · Management · Execution
Stellar Residential Platform
The investment thesis does not leave the room when the lease begins.
Ground-up development and value-add acquisitions across Arizona.
NOI growth averaged over 40%. Operating expenses ran 4.3% below underwritten proforma.
The entire multifamily portfolio, rather than execute 1031 exchanges. We paid the capital gains tax and returned the money to our investors.
We did not reinvest at prices we could not justify.
The Palmer, Prescott. 209 units, fully entitled and shovel-ready. Additional acquisitions are under evaluation wherever the basis makes sense.
Ground-up development and value-add acquisitions across Arizona.
NOI growth averaged over 40%. Operating expenses ran 4.3% below underwritten proforma.
The entire multifamily portfolio, rather than execute 1031 exchanges. We paid the capital gains tax and returned the money to our investors.
We did not reinvest at prices we could not justify.
The Palmer, Prescott. 209 units, fully entitled and shovel-ready. Additional acquisitions are under evaluation wherever the basis makes sense.
Realized Investments
Our most recent multifamily exits. Across the portfolio, actual performance has exceeded initial underwriting.
Value-add multifamily · Scottsdale, Arizona
$14.0M equity returned $49.3M. Acquired at $36.25M, sold at $74.75M, a record price per unit in the Sunbelt.
Ground-up development · Prescott, Arizona
$5.4M equity returned $22.1M. Sold at $35M, the highest price per square foot in Arizona for garden-style at the time of sale.
Core-plus multifamily · Flagstaff, Arizona
$7.5M equity returned $18.5M, with quarterly distributions throughout.
Value-add multifamily · Scottsdale, Arizona
$7.7M equity returned $13.3M, with quarterly distributions throughout.
Commercial real estate: Arlington Tower (office, Arlington, TX), Rockwell Land (development, Rockwell, TX), and regional self-storage facilities (Sherman, TX and 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).
Investment Thesis
Market data, prudent leverage and active in-house management.
We target markets where population growth, wage expansion and regulatory barriers keep demand ahead of supply. We also buy mismanaged assets, where operations show up in the bottom line quickly.
We underwrite rent growth and operating assumptions with stress-tested exit scenarios and a clear path to value creation before we commit capital.
In-house management through Stellar Residential shortens stabilization timelines. Operating expenses ran 4.3% below underwritten proforma.
We invest meaningful GP equity alongside our partners, with performance-based promotes through the hold. Our investors are family offices, institutional allocators and private client investors.
The Next Chapter
Prescott, Arizona
Sixty-mile mountain vistas. Just under fourteen acres adjacent to The Ranch at Prescott, where homes average over $1 million.
The Palmer site · 60-mile mountain vistas
| Prescott | 1 unit per 94 residents |
|---|---|
| Flagstaff | 1 unit per 21 residents |
| Tucson | 1 unit per 15 residents |
| Phoenix | 1 unit per 11.5 residents |
| Existing apartment units, MSA | 2,680 |
| Water rights | Limited availability constrains new supply |
| Home values within 1 mile | Avg. $1,157,345 |
| Deal IRR | 63.4% |
|---|---|
| Equity multiple | 3.92× |
| Disposition | Highest $/SF in AZ at time of sale (garden) |
Operational Integration
The operator does not enter after closing. It informs the thesis before capital is committed.
Tanbic is General Partner across all partnership structures: sourcing, entitlement, capital structuring, construction oversight and investor relations, from acquisition through sale.
Day-to-day operations run through Stellar Residential, led by Dale Phillips, President of Mark-Taylor Residential for 17 years, and Ben Carter, CFO, whose experience at Ventura Investment Company and Wedgewood spanned a $2 billion portfolio.
Anchor market with a deep operating history. Centerra and The Winfield of Scottsdale.
Arizona's most supply-constrained rental market. The Palmer and Winfield at the Ranch.
1 multifamily unit per 21 residents. Timberline Place.
Anchored in Arizona, looking across the broader South, Southwest and Mountain West wherever the basis makes sense.
Leadership
Founder & CEO
Tanner Bickelhaupt founded The Tanbic Company in 2015. He was previously Director of Real Estate for Black Rock Development, directing a portfolio of 44 entities valued above $550 million. His career track record covers 61 properties totaling 11,529 units and more than $250 million in private equity raised.
He co-founded Stellar Residential to bring management in house, and is General Partner across all active Tanbic investments. He is a board member for Save®, an SEC-regulated fintech platform backed by BNP Paribas, and lives in Scottsdale with his family.
The Tanbic Brief
Occasional observations from inside multifamily ownership and operations—rents, concessions, capital, costs and the signals shaping our investment decisions.
A few times a year. No schedule. No noise.
Get In Touch
For family offices, institutional allocators and private client investors who want careful underwriting and direct communication.
invest@tanbic.comNo Offer, Solicitation or Advice. Except as otherwise specified by a Tanbic Company entity in writing, nothing on this website is intended to constitute (i) an offer, or solicitation of an offer, to purchase or sell any security, other asset or service, (ii) investment advice or an offer to provide such advice, or (iii) a basis for making any investment decision. Except as expressly stated by a Tanbic Company entity in writing, neither this website nor any of the materials herein make any effort to present a comprehensive or balanced description of Tanbic or its investment activities. Any project described on this website may not be representative of all investments made by Tanbic and is intended to be illustrative of the types of projects invested in and developed by The Tanbic Company.