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Value-Add Equity · BC

Disciplined
Capital.Precise
Execution.

Marram Investments Corp. is a principal investor in British Columbia real estate. We buy, reposition and stabilize value-add multifamily and small-bay industrial assets that are too small for institutions and too complex for banks. We invest in-house capital in every deal, with strategic partners.

Start a Conversation Investment Criteria
2022
Founded in BC
$2–10MM
Size per deal
In-House Capital
In every deal

01Approach

Buy Right.
Then Do the Work.

“We operate where the map runs out.”

We prioritize downside protection through a disciplined entry basis and drive returns through direct execution. Marram is based in Vancouver and invests in the sub-institutional real estate market of British Columbia, where competition is less sophisticated and most lenders will not finance complicated assets. We manage only our own assets and assets held for co-investors and strategic partners.

Value-creation pathwayFour stages: Buy right, Do the work, Stabilize, Refinance and hold. A stepped line rises through each stage and continues level as a long-term hold. 01 Buy right Entry basis first. Downside case second. 02 Do the work Physical, leasing, management and structuring work. 03 Stabilize Re-leased toward a stabilized, financeable asset. 04 Refinance and hold Return partners’ capital through refinancing, then keep the asset. TAKE-OUT FINANCING HOLD → Value-creation pathwayFour stages, top to bottom: Buy right, Do the work, Stabilize, Refinance and hold. 01 Buy right Entry basis first. Downside case second. 02 Do the work Physical, leasing, management and structuring work. 03 Stabilize Re-leased toward a stabilized, financeable asset. 04 Refinance and hold Return partners’ capital through refinancing, then keep the asset.

02Strategy

Beds, Sheds
and Situations.

Two asset types we know well, plus situations where condition, capital structure or circumstance hides the value. One underwriting standard covers all three.

Low-rise multifamily building
Beds

Value-Add Multifamily

Walk-up and low-rise apartments where capital work, operations and CMHC-insured refinancing create value we control ourselves.

Small-bay industrial building
Sheds

Small-Bay Industrial

Multi-tenant units for trades, contractors and local operators, with deep tenant demand, limited new supply and low obsolescence risk.

Industrial building after repositioning
Situations

Value-Obscured Assets

Assets with value hidden by condition, capital structure or circumstance: estates, partnership splits, occupancy orders and maturing debt.

03Criteria

What We Look For.
Indicative, Not Limits.

If a deal is close, call.

Where Marram invests: below institutional size, from bank-financeable value-add to moderate complexityDeal size on the horizontal axis; complexity on the vertical, in four bands: stabilized, light value-add, heavy value-add, ground-up. Marram's strike zone covers $2–10MM, and up to $20MM with partners, from bank-financeable light value-add up to moderate heavy value-add, capped below ground-up. Institutional capital sits at $20MM and above, in a narrower, more conservative band from stabilized to light value-add. BANK FINANCING CAPPED BELOW GROUND-UP STABILIZED LIGHT VALUE-ADD HEAVY VALUE-ADD GROUND-UP MARRAM $2–10MM Our range, by design WITH PARTNERS up to $20MM INSTITUTIONAL CAPITAL Larger, narrower, more conservative. COMPLEXITY ↑ $2 $10 $20 DEAL SIZE ($MM) Where Marram invests: below institutional size, from bank-financeable value-add to moderate complexityDeal size on the horizontal axis; complexity on the vertical, in four bands: stabilized, light value-add, heavy value-add, ground-up. Marram's strike zone covers $2–10MM, and up to $20MM with partners, from bank-financeable light value-add up to moderate heavy value-add, capped below ground-up. Institutional capital sits at $20MM and above, in a narrower, more conservative band from stabilized to light value-add. BANK FINANCING Stabilized Light value-add Heavy value-add Ground-up MARRAM $2–10MM WITH PARTNERS up to $20MM INSTITUTIONAL $20MM+ BANK FINANCING below the line COMPLEXITY ↑ $2 $10 $20 DEAL SIZE ($MM)
CriteriaMarram EquityAcquisitions, Joint Ventures and Co-Investment
AssetsValue-add multifamily, small-bay industrial, covered land
Size$2–10MM per deal; up to $20MM with strategic partners
MarketsBC secondary markets; growing pockets of Metro Vancouver
StructureAll-cash, VTB or assumption; JV, co-GP or partial interest
Leverage & HoldModerate, accretive debt; refinance, then hold long term
Business PlanCapex, remediation, re-leasing, conversion to net leases
SituationsEstate sales, partner splits, maturing debt, receiverships

04Track Record

Holdings.
By Strategy.

Marram’s investments since 2022, by strategy and asset type: what the situation was, where the value-add sits and where each asset stands.

SituationsIndustrial

Industrial Remediation

An impaired, non-conforming multi-tenant industrial building, remediated and brought back to code with an architect and general contractor, now leasing up.

Value-AddRemediation, re-permitting
StatusLease-up

ShedsIndustrial

Estate-Sale Lease-Up

Vacant small-bay industrial bought from an estate and leased to an operating tenant on a multi-year term, turning the vacancy into rental income.

Value-AddEstate purchase, lease-up
Yield on CostAbout 8–9%

BedsMultifamily

Walk-Up Repositioning

A self-managed value-add walk-up where problem tenancies were resolved and suites, renovated on natural turnover, earn rent premiums over the hold.

Value-AddSuite renovations
StatusStabilized

ShedsIndustrial

Net-Lease Re-Tenanting

Deferred maintenance cleared and gross leases went net; then repaving plus office, lighting and heating upgrades. Refinanced; a large share of equity returned.

Value-AddRe-tenanting, capex
StatusStabilized, refinanced

05Co-Investment

Invest With Us.
Deal by Deal.

Partnership over the long holdAbstract engraved composition: two ribbons of fine lines, one Marram Green and one Sand, start apart, weave through each other once, then settle side by side and widen gently as they rise together over a faint contour field and a finely ticked baseline.

Marram invests in-house capital in every deal, alongside a small group of co-investors, and holds for the long term.

Strategic Partners
Same deal. Same terms.
Co-Investors
Aligned structure. Low cash fees.
Start a Conversation

Structure and terms are discussed directly, deal by deal.

Partnership over the long holdAbstract engraved composition: two ribbons of fine lines, one Marram Green and one Sand, start apart, weave through each other once, then settle side by side and widen gently as they rise together over a faint contour field and a finely ticked baseline.

06Leadership

George Wen.
Founder & Principal.

Raised in Vancouver, George began his career in the United States after Northwestern: a multifamily private equity GP with value-add mandates for global institutional LPs, then a national multifamily developer. Founded in 2022, Marram is his principal investment vehicle for complex, sub-institutional deals. In parallel, he leads value-add and core-plus investments in British Columbia for a private real estate platform, carrying deals from underwriting through leasing, financing and the hold, and runs a fee-only stabilization practice, Stablepath Advisory.

Experience
9 years in commercial real estate
Education
B.A. in Quantitative Economics, Northwestern University
Transactions Closed
$263MM across 22 transactions
About $11MM with in‑house capital
Disciplines
Acquisitions and dispositions
Asset and portfolio management
Capital allocation and structuring
Commercial leasing
Career timelineGeorge’s path: US institutional real estate, then a British Columbia private investment platform and owner’s representative work, which continues today in parallel with Marram, founded 2022 with in-house capital. UNITED STATESUS institutional real estate BRITISH COLUMBIAPrivate investment platform and owner’s rep MARRAM · 2022Founded with in-house capital Career timelineGeorge’s path: US institutional real estate, then a British Columbia private investment platform and owner’s representative work, which continues today in parallel with Marram, founded 2022 with in-house capital. UNITED STATES US institutional real estate BRITISH COLUMBIA Private investment platform and owner’s rep MARRAM · 2022 Founded with in-house capital

Selected Mandates

Unit Volume400+ units
Managed Capex Budget$2.7MM+

MandateMultifamily

CMHC Multifamily Mandate

Led CMHC MLI Select acquisitions and refinancings across 400+ units for proprietary accounts and capital partners. Oversaw underwriting and ran a $2.7MM+ capex budget for energy retrofits.

Portfolio Size$51MM
Stabilized Yield Delta+300 bps

MandateIndustrial

Industrial Roll-Up Mandate

Retained by a regional family office to roll up small-bay industrial acquisitions into a $51MM portfolio. Brought in institutional property management, sped up lease-up and cleared deferred maintenance.

07Contact

Start a Conversation.
Introductions First.

Co-investors, strategic partners, vendors, debt brokers and intermediaries: every introduction starts with a call.

Schedule a Call
Office
Vancouver, British Columbia