At REEP Equity, we recognize that our most valuable assets are our team members. Join us today as we highlight Victoria Garza-Fraser, our talented Acquisitions and Capital Events Manager, through an engaging question-and-answer session. 

What inspired you to pursue a career in our industry, and how has your journey led you to where you are today?

My first experience in this industry was eye-opening! My parents, Jacob, and Arleen, purchased a 24-unit apartment complex. They did it all from leasing to collecting, to doing the maintenance. I was a teenager, soaking in all it took to run and manage a community successfully from acquisition, operations, to asset management. One moment that stands out, was when they purchased the property, the pool had been inoperable for years. My parents fixed it up and threw a pool party to celebrate the grand reopening of the pool. My brother and I attended, handing out pizza and cookies. The residents were so happy, and I saw firsthand the impact of how important creating and maintaining a community was.

That was my first glimpse into the multifamily industry. From there I went to obtain my bachelor’s degree and then master’s degree, returning home to work at the properties as a leasing agent during school breaks. Following my education, I was working in psychology but didn’t love what I was doing. Real estate was gnawing at me to come back. I was living in Miami at the time, so I obtained my real estate license and took a job at a vertically integrated multifamily firm like REEP. In my year and a half there, I was able to gain invaluable skills and learn a ton from resident relations, marketing, and asset management.

Following Miami, I returned home and worked on property another 6 months to learn the REEP Way. I am so grateful for my time on property as it has made me appreciate the hard work and grit our onsite team puts forth on a daily basis. From there, I moved over to REEP Equity as an acquisition’s analyst. I learned a ton that first year and was promoted to portfolio analyst, adding asset management duties to my acquisition role. The year I was in asset management taught me the importance of lender relationships, the impact of insurance, and how crucial asset management is for the success of a multifamily asset. By this point, in my short 2 years we had acquired 15 new assets and REEP was growing. My role changed so I could focus on the acquisition side of REEP. From there, I was promoted to manager of acquisitions and capital events, where I manage REEP’s acquisitions, refinances, and dispositions. In the  In every role I’ve had, my psychology degrees has come in handy. In the past 3 years at REEP I’ve been able to be a part of 25 transactions and I’m excited to continue to be part of REEP’s growth.

What do you find most rewarding about your role, and how does it contribute to the overall success of the company?

It is difficult to choose! I love the trifecta of improving communities, finding incredible investment opportunities for our investors, and working with my family. If I had to choose, the most rewarding aspect is improving the communities we acquire. Whether it’s improving the fitness center or fixing up the dog park, I love that we are able to make a positive impact on these apartment homes. We have over 15,000 residents who live in our properties, so it is important that we take care of them and their families.

Can you share a significant achievement or project that you’re particularly proud of from your time here?

I’m very proud that in 2023 we were able to break into the Austin market with our first property! We had been meticulously looking, touring over 20 assets until we found The Violet (now The V at Soco). We would not have found this asset if we hadn’t maintained good relationships. The Violet was off market and even better, a loan assumption. Not only was this our first Austin property, but it was REEP’s first loan assumption with an amazing loan. The loan was fixed at 2.75% which was unheard of when we purchased The Violet. I’m very proud of this acquisition as it checked a lot of firsts and I’m proud of the diligent work that went into finding it.

How do you approach challenges and maintain motivation in a fast-paced and dynamic work environment?

I’m a competitive person, so challenges are exciting for me! Every acquisition, refinance, and disposition have a “hair” or challenge. Some are easier fixes than others that require more thought and strategy to solve them. We work as a team to solve these challenges and we always know it will be ok in the end. I have great mentors who give me advice and help me talk through challenges.

What are some key lessons or insights you’ve gained while working at our company that have helped shape your professional growth?

The biggest key lesson I’ve learned is to “ride the wave”, instead of struggle against it. The past year multifamily has experienced market challenges and quick changes. We have been able to pivot and understand our new normal instead of sitting on the sidelines, waiting for less challenging waters. This has allowed me to ask more questions and learn daily to keep up with market changes. This has also helped me instill this key lesson with our acquisitions team and we have been successful doing it!

How do you see your role evolving in the future, and what excites you about the direction our industry is heading?

I absolutely love my role in acquisitions and foresee myself continuing in this role. I do see my role taking on more responsibility and adding more people to our awesome team. I hope to evolve my leadership skills and evolve our processes to make every transaction smooth. I am excited to see what unique opportunities there are for new markets, new asset classes, and potentially new asset types. What I love about REEP is we are always growing and evolving- the future is bright!

Outside of work, what are your passions and interests, and how do they influence your approach to your professional life?

Outside of work I love spending time with my loved ones. I enjoy cooking, traveling, and reading psychological thrillers. One of my guilty pleasures is shopping. I love styling clothes and accessories whether I’m going to work or going out with my husband. Beyond the fun of shopping, what I really like is finding the best deal. I love finding a pair of shoes on sale or a vintage handbag that you can’t find at a store. This directly translates to my career, where I am always trying to find the best deal in real estate.

Can you highlight a team or company initiative that you’re involved in and explain why it’s important to you?

We hold a mini investment committee meeting where our analysts pick one potential acquisition and present it to the acquisition leadership team. In these meetings, they present why we should go after a potential acquisition. They start with a location analysis of what makes the area great. After that, they present important facts about the property, highlighting pertinent data. Then comes the underwriting analysis where they present and defend their assumptions and what financing terms they chose. After that we have an opportunity to ask them questions about their underwriting and the deal. This is an amazing growth opportunity for them, and it allows them to really dig into a deal and know everything about it. In my day to day, whenever we have a potential acquisition, I do this with our founders. It is a good way to get our analysts involved, grow their knowledge and practice presentation skills. It is important to me that I find ways to mentor and grow our analyst’s career. They are a sharp team!

What advice would you give to new employees who are looking to make an impact and thrive within our organization?

Work hard, be curious, and be open to feedback!

Is there anything else you’d like to share with your colleagues or our audience about your experience and perspective?

I’m so grateful to work at REEP and love what I do. I feel very fortunate to work with amazing people where we accomplish amazing things together.