Master Leasing
The day we signed our first master lease in Los Angeles, we knew it could be an effective real estate tool to change the course of access to affordable housing.
A master lease puts an umbrella lease on a market rate building, negotiating a lower rate per unit in exchange for no vacancy loss. It is particularly effective in rapidly scaling housing solutions for vulnerable populations.
We successfully convinced a for-profit student housing developer that had no public-private partnership experience to turn their entire building over to individuals exiting homelessness - that’s relationship capital!
This spurred a journey for other similar developers, gaining experience and interest in the affordable housing sector for the first time. In the process, we moved four times as many people indoors six times faster than the existing tax credit-funded, supportive housing system.
Our Team
Keenan Leary, MSW
Keenan’s research centers on the intersection of successful social services and financial asset management in supportive housing to resolve homelessness. Previously, he was a homeless services housing navigator and project coordinator for affordable housing acquisitions in Los Angeles.
Co-Founder & CEO
Alexander Mccullough
Experienced Development & Asset Management professional with 6+ years in multifamily management, development, underwriting, and portfolio performance.
Proven track record assisting in entitlement, development, and refinancing of 600+ apartment units and managing portfolios of 300+ units.
Co-Founder & Real Estate Advisor
COO and Veterans ProgramsAustin Sankaran
Experienced organizational leader with 4 years of service in the Navy, leading teams and solving critical global problems. MBA student at the University of Chicago Booth School of Business since 2025.
