An institutional approach to a market built for local operators
Green Sea Real Estate Partners was founded to bring the discipline of institutional real estate investing to a market that has operated, for decades, as a patchwork of local owners without the capital or the systems to deliver institutional-quality housing
Institutional discipline, on-the-ground execution
The affordable single-family rental market — roughly a million homes priced under $120,000 across our target MSAs — is dominated by mom-and-pop owners. Most lack the capital to invest in their buildings, the operational reach to run them at scale, or the relationships to source off-market deals consistently.
Green Sea brings institutional acquisition discipline, standardized renovation capital, and professional property management to this fragmented market. Our partners have collectively underwritten and managed over $1.2 billion of real estate across prior roles at Morgan Stanley, Wheelock Street Capital, Edge Principal Advisors, and W5 Group.
The result is a platform that produces durable, Section 8-backed cash flow at yields rarely available at institutional scale — alongside quality Section 8 housing for our residents.
Four commitments that guide every deal
Basis matters more than headlines
We underwrite to the number, not the narrative. Every home is acquired at a basis that produces double-digit unlevered yield on day one — with upside, not dependency on it.
Standardized renovations at scale
Renovation scopes built to Section 8 inspection standards. Materials chosen for a 10-year tenant cycle — not a turnover cycle.
Housing quality is the product
Well-renovated homes lease faster, retain tenants longer, and compound returns. We don’t cut corners to deliver the best product for our tenants.
Leverage serves yield — it doesn’t drive it
We hold homes unlevered until stabilized. Underwriting assumes strong unlevered economics so that leverage amplifies returns rather than creates them.
Led by experienced institutional operators
A combined track record spanning over $1.2 billion of transactions across Morgan Stanley, Edge Principal Advisors, Wheelock Street Capital, and W5 Group
Joshua Goldstein
Prior to founding Green Sea, Mr. Goldstein was the founder of Evergreen Real Estate Capital, a New York-based real estate investment firm. Before Evergreen, he was a Vice President at Edge Principal Advisors, a New York-based real estate private equity firm with over $4 billion of total investment volume, where he oversaw the acquisition, development, and asset management of over $750 million of real estate across the United States.
Mr. Goldstein was previously a member of the investments group at The JBG Companies in Washington, D.C., actively involved in transactions totaling over $300 million. He began his career at Morgan Stanley in the Financial Institutions Group. B.A. in Economics and Political Science with honors, Vassar College.
Nicholas Fair
Prior to founding Green Sea, Mr. Fair was a Vice President at W5 Group, the single-family investment office of Ralph Winter with over $1 billion of total investment volume, where he oversaw the acquisition, development, and asset management of over $500 million of real estate across the Southeast, with a focus on student housing and build-to-rent.
Mr. Fair was previously on the acquisitions team at Wheelock Street Capital, a Greenwich- and Boston-based real estate private equity firm currently investing approximately $2 billion of capital commitments. He began his career at Morgan Stanley Real Estate Investments, focused on equity investments across the Southeast with $4 billion of gross asset value. B.A. in United States History, Brown University.