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Midwest & Mountain West

Your family office for real estate

We buy at a basis that lets us hold for decades, and we run every property as if it’s staying in the family. Our partners own real estate the way the wealthiest families do, without having to run it.

Partner with FRHSend a deal
  • 4Strategies, one discipline
  • 19Target metros
  • ~75 minRadius around each metro
  • 6–50Units per apartment building

We find overlooked real estate, fix how it runs and own it for the long term, treating our partners’ capital as our own and telling them the truth. Owners first, capital allocators second, dealmakers last.

  • Integrity
  • Transparency
  • Respect
  • Stewardship
  • Discipline

Our principles

What we buy

Smaller properties that large investors tend to overlook.

Full strategy

  • Aerial view of a manufactured-home community with curving streets and mature trees

    Covered land

    Mobile home and RV communities where today’s rent covers the costs and the land keeps gaining value.

  • Three-storey brick garden-style apartment building beside a quiet street

    Workforce multifamily

    Apartment buildings of 6–50 units in established neighborhoods, improved through renovation and hands-on management.

  • Concrete-block light industrial building with two loading doors in late-afternoon sun

    Select opportunistic

    Small-bay industrial, select self-storage and special situations, bought for less than they would cost to build.

  • A single brass key on a dark slate surface

    Debt & notes

    Real estate loans, performing or not, bought as a route to owning the property behind them.

Three pillars

One plan for every property we own.

  1. Buy the basis

    We buy properties for less than they would cost to build today, or for less than they are worth on the open market. The purchase price is the one thing we fully control, so we are patient about it.

  2. Build the value

    We raise income through better management, renovation and rent growth. Value created this way, often called forced appreciation, does not depend on the market going up.

  3. Hold for good

    We keep what we buy for the long term. As income grows, we refinance rather than sell, so the property keeps working for our partners for years.

How every deal moves

  1. Source
  2. Underwrite
  3. Acquire
  4. Improve
  5. Refinance
  6. Hold

Where we invest

Nineteen metros across the Midwest and Mountain West, and properties within about 75 minutes of each.

Explore the markets

FRH target metros across the Midwest and Mountain WestNineteen target metros plotted by approximate location, from Reno, Boise, Salt Lake City and Phoenix in the west to Detroit, Cleveland and Columbus in the east. Kansas City, Columbus, Cincinnati and Salt Lake City are marked as multifamily focus markets, and Boise, Reno and Des Moines as growth-driver secondary metros. Shaded circles show the roughly 75-minute radius FRH also considers.Kansas CityColumbusCincinnatiSalt Lake CityChicagoMinneapolis–St. PaulDetroitSt. LouisPhoenixDenverClevelandIndianapolisMilwaukeeToledoLouisvilleOmahaBoiseRenoDes Moines
  • Multifamily focus
  • Core
  • Secondary
  • Growth driver
  • About 75 minutes
Pat Bierbusse, Founder and Principal of Frontier Range Holdings

Principal-led, by design

Pat Bierbusse founded FRH and leads every deal himself, after a career spent on nearly every side of real estate.

  • Ernst & YoungCommercial real estate and structured finance advisory
  • Developer capital marketsUnderwriting, capital markets and corporate finance for a real estate developer
  • $5B+ family-office portfolioInvestment and asset management at the Cherng Family Trust
  • Distressed debt & workoutsLoan purchases, bridge lending, workouts and receiverships at Dornin Investment Group

About the founder

Mountain ridge lit by sunrise above open high-plains grassland

Capital partners

Partner with FRH

For families and individuals who would rather own real estate patiently than trade it. Every relationship begins with a conversation.

How partnership worksJoin the partner list

Frontier Range Holdings is not currently offering securities. Any future offering will be made only to qualified investors through definitive offering documents.

Start a conversation

Pat reads and answers every message personally. pat@frontierrangeholdings.com