Proposed fund · in formation · Arizona
Own the real estate. Underwrite the tenant. Plan the exit.
A proposed Arizona property fund that would buy residential and small multifamily buildings and lease them to independently screened recovery-housing organizations — which operate their own programs.
Proposed fund in formation. No acquisitions, financing, formed-entity confirmations or subscriptions are represented on this site. Artwork is conceptual, not actual holdings.
The investment model
A landlord, deliberately separate from the program.
The fund would own buildings and sign leases. Tenant organizations would hold the licenses, run the homes and pay rent. The fund is not a treatment provider or resident-placement service, and keeps no resident records.
Who owns, who operates, who collects rentThe fund
- Owns property & title
- Arranges fixed debt
- Holds reserves
- Plans the exit
Tenant organization
- Holds premise license
- Operates the home
- Serves residents
- Pays contract rent
Vision
From stable homes to disciplined investment
A 45-second silent concept film with captions and transcript. Press play when ready. Conceptual visuals only.
Silent captioned brand concept film (45 seconds, no narration). Uses existing conceptual illustration; not actual holdings.
Read the transcript
Open the full transcript page — readable without watching the video.
- 0:00A place to begin again. Arizona real estate. Recovery housing.
- 0:07Purpose opens the door. Property discipline carries the investment.
- 0:14Own the real estate. Independent tenant organizations run their programs.
- 0:22Underwrite every layer. Price. Legal use. Tenant credit. Fixed debt. Reserves.
- 0:30Plan the exit early. Lease income and alternative-use value.
- 0:38Start with better questions. Read the research. Meet the team. Examine the assumptions.
Preliminary information. Private securities involve risk and illiquidity. No promised outcome.
Arizona thesis
The Phoenix metro is the sourcing core.
Scale, diversified employment and an established state licensing framework — with every parcel still checked against its own city or county rules.
- Maricopa population, 2025
- 4,689,558
- Median household income, 2020–2024
- $89,300
- Median gross rent, 2020–2024
- $1,708
Sourcing core · Maricopa County
Phoenix
Largest city in the metro. Published community-residence rules include registration, 1,320-foot separation and parking requirements for structured sober homes (research summary; verify current code).
Source: RHF Research edition 1.0 (Oct 30, 2026), local land-use summaries. City summaries are not parcel approvals.
Observed data: U.S. Census Bureau QuickFacts, Maricopa County. County medians are context, not property or operator rent comparables, and recovery need does not equal rent collection. Full Arizona context.
Underwriting pillars
Five gates, every property.
Regional research narrows the search. Evidence at the property and the operator decides whether capital is deployed — and a failed gate stops an acquisition even when capital is available.
Read the strategy- 01
Independent value
Third-party appraisal and inspection, independent of any seller's target profit. The research suggests seeking a price at or below as-is value where feasible.
- 02
Verified legal use
Current state license at the actual premises, written local classification, fire occupancy and parking — the approved use in hand, not a hoped-for exception.
- 03
Tenant cash, not tenant promises
Reconciled collections, rent coverage and liquidity at the organization level. A long lease is not a credit rating.
- 04
Fixed, amortizing debt
Fixed for the loan's life with per-property collateral and no cross-collateralization — still tested for coverage.
- 05
Reserves and an exit
Real cash reserves and a documented alternative-use value for every property.
Current public terms
Planning terms, reconciled November 4, 2026.
Preliminary and subject to final governing documents. No modeled fund returns are published on this site; fund scenarios are available in the controlled deck.
All public terms| Target commitments | $29,000,000 |
|---|---|
| Minimum investment | $50,000 |
| Offering framework | Intended Rule 506(c) |
| Planned first close | April 1, 2027 |
| Horizon | 5–7 years |
| Preferred return | 8% cumulative, simple |
Research Lab · Research edition 1.0
Arizona Recovery Housing Real Estate: A Regional Atlas and an Operating Thesis
A 69-page regional atlas and operating thesis, dated October 30, 2026. Demographics, housing, licensing, operator economics, debt discipline and exit planning.
Sponsor-prepared research, not an independent appraisal, clinical recommendation, legal opinion or evidence of qualified paying tenant demand. Its dated planning examples do not supersede current fund documents.
Responsible sponsorship
Steward Housing + RAW Capital Fund
Steward Housing brings Arizona sourcing and recovery-housing real estate context; RAW Capital Fund brings fund structure and capital formation. Sponsor experience is separate from fund performance — Recovery Housing Fund I has no track record of its own. Related-party acquisitions require independent valuation, disclosure and recusal.
Felipe Soares
Fund strategy and capital formation
Works on fund structure, investor communication, underwriting controls and provider coordination through RAW Capital Fund.
Jared Galde
Arizona sourcing and local relationships
Brings Steward Housing sourcing, recovery-housing real estate context and tenant-organization introductions; each acquisition remains subject to independent review.
Also: Aaron Jennings (execution and coordination) and Maura McGraw (investor relations) — Proposed / prospective
Team and advisory rolesFor owners, buyers and operators
Three business paths, reviewed by people.
Sell a property
Owners, operator-owners and brokers can submit an Arizona property for review.
StartBuy properties
No listings are approved yet. Register preferences for future permissioned inventory.
StartLease from the fund
Recovery-housing organizations can open an organization-level lease conversation.
StartWhat is Recovery Housing Fund I?
A proposed closed-end real estate fund that plans to own Arizona residential and small multifamily property and lease it to independently underwritten recovery-housing tenant organizations. The tenants operate their programs; the fund is not a treatment provider or resident-placement service. It is in formation.
Source: Public whitelist · model
Is the fund open or already investing?
No. The fund is proposed and in formation. There are no verified acquisitions, formed-entity confirmations, financing or subscriptions. Planning targets a first close on April 1, 2027, subject to readiness and final documents.
Source: Public whitelist · terms (reconciled Nov 4, 2026)
Who can invest?
Any offering is intended under Rule 506(c) for verified accredited investors only. Verification happens through the secure portal process with supporting evidence; a checkbox or self-description on this website is used only to route your inquiry.
Source: Public whitelist · offering; SEC 506(c) guidance
What are the planning terms?
$29M target commitments, $50,000 minimum, 5–7 year horizon with no redemption promise, 36-month acquisition period, an 8% cumulative simple preferred return on unreturned called capital (a distribution priority, not a guaranteed yield), whole-fund European waterfall with a 70/30 residual and no catch-up, a 1.5% management fee on original deployed acquisition equity and a 1.5% acquisition fee.
Source: Public whitelist · terms
Has the SEC approved this fund?
No. The SEC does not approve or endorse private offerings. The intended Investment Company Act 3(c)(5)(C) treatment is subject to counsel analysis and is not a registration or approval.
Source: Public whitelist · disclosure
Start with the research. Then talk with us.
Request an investor briefing for a fit conversation. Controlled materials and any subscription happen later, through Cash Flow Portal, after verification.