Falls Park and downtown Sioux Falls at dusk

Real estate investment
across the Upper Midwest.

We acquire, improve, and operate
multifamily and self-storage properties.

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Metastone at a glance.

By the numbers

Assets under management: $50M+Reported assets under management.
Units & spaces: 975Apartment units and self-storage spaces.
Completed business plans: 2Completed property business plans.
Equity invested: $8M+Reported equity invested.

01 / The firmLong-term focus

Real estate is the asset.
Trust is the foundation.

Metastone Capital Group is a privately held real estate investment firm. We acquire, improve, and operate properties with an enduring focus on people, performance, and stewardship.

Get to know the firm

Aligned capitalDisciplined execution

Market intelligence

A research tool.
Built for investors.

Compare markets. Research properties. Evaluate opportunities.

Sioux Falls housing indicators, metro comparisons, historical trends, and a captured 3D research view—all in one place.

Explore Metastone Markets Get free Sioux Falls market updates

Metastone Markets3D research preview

Actual Sioux Falls parcel research preview from Metastone Markets

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02 / Selected properties

A portfolio with purpose.

Selected properties from the Metastone portfolio. Storage spaces and apartment units are distinct asset measures.

03 / Investment philosophy

Principled by design.
Built to perform.

We seek real opportunities with a clear thesis, disciplined underwriting, and a hands-on plan for creating long-term value.

Our investment philosophy

Mountain peaks in the evening light — A long-term perspective.

01 / ALIGNMENT

Invested alongside you.

We bring our own capital to the table and align incentives from the beginning.

02 / DISCIPLINE

Thoughtful acquisitions.

We favor careful underwriting and clear, supportable business plans.

03 / EXECUTION

Active stewardship.

Value is created with attentive operations, not just on the day we buy.

04 / PARTNERSHIP

Built on transparency.

Clear communication and strong relationships remain central to our work.

Aligned partnerships. Lasting value.

04 / Our leadership

Relationships lead.
Everything else follows.

05 / Latest insights

From the field.

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Let's build what lasts

Strong investments begin with stronger conversations.

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Who we are

Built through partnership.

Four partners. A shared conviction. A long-term commitment to doing the work and doing it well.

Our story

Legacy isn't given.
It's built.

Metastone began with four friends who believed that real estate could create meaningful value for investors and the communities around them. From sourcing early off-market opportunities to acquiring and managing multifamily assets, the firm has grown through hands-on experience and a shared commitment to excellence.

Today we bring an ownership mindset to every decision. We focus on selective opportunities, disciplined execution, and lasting relationships with the people who place their trust in us.

Our vision goes beyond any one property. We aim to build a company that creates value over decades.

Our guiding belief

“The best partnerships are grounded in aligned interests, honest communication, and the willingness to do the hard work.”

How we operate

The values that shape us.

01

Integrity

Being accountable to our promises, our partners, and our communities.

02

Ownership

Operating with care and commitment at every stage of the investment.

03

Focus

Staying selective about where we invest our time and capital.

04

Longevity

Building systems and relationships for the long term.

Meet the people behind the firm.

Get to know the partners responsible for the work.

Meet our team

Our investment focus

A thesis backed by action.

Thoughtful acquisitions, hands-on improvements, and operational discipline are the foundations of how we seek to create enduring value.

Our approach

We believe value is created through execution.

We target real estate opportunities where strong fundamentals and a clear operating plan intersect. We evaluate downside scenarios, study local market conditions, and look for assets where targeted improvements can strengthen the ownership experience and operating performance.

Disciplined underwriting and stress testing
Clear plans for operational improvement
Direct ownership oversight and vetted partners
Transparent reporting and communication

Where we focus

Real assets.
A focused approach.

Multifamily communities and self-storage, approached with the same discipline and hands-on ownership.

Explore the portfolio

01Multifamily communities

Haus Apartments in Bismarck, North Dakota — Haus Apartments · Bismarck, ND

Apartment communities where careful acquisitions, targeted improvements, and attentive operations can create lasting value.

Our portfolio includes communities in Sioux Falls, Brandon, and Bismarck.

02Self-storage

Storage buildings at Cornerstone Storage in Sioux Falls — Cornerstone Storage · Sioux Falls, SD

Practical real estate serving local storage needs, with a focus on the details of day-to-day operations.

Cornerstone Storage has 570 storage spaces and was acquired in March 2026.

Ownership plan: acquire, improve operations, strengthen the property, then evaluate holding or selling. Outcomes and timing are not guaranteed.

Investor questions

A few things worth knowing.

How does property income become potential distributions?

Rental income after vacancy and collection losses supports operating expenses, debt payments, capital work and reserves before potential distributions. Conceptual only; no allocation or payment order shown.

Why plan separately for operations and replacements?

Recurring operations include utilities, maintenance, insurance and taxes. Future replacements include roofs, building systems and equipment. Reserve needs vary by property and financing terms.

Responses are general informational content, not investment, tax, or legal advice. Terms depend on each offering.

Explore the properties behind the plan.

See the places, asset types, and ownership stages.

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The Metastone portfolio

Real assets.
Lasting value.

Explore our multifamily and self-storage properties.

Explore properties

Haus ApartmentsBismarck, ND · MultifamilyView property Photo with illustrative evening lighting

Browse properties

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Property by property.

8 properties

Acquisition and sale dates reflect historical property records. Month-only dates do not specify a closing day. Storage spaces are not apartment units.

Have a property or partnership in mind?

Connect with the team about the next conversation.

Contact our team

Our leadership

The people behind the work.

Metastone is built on shared ownership, enduring relationships, and a team that believes in getting things done.

The partners

Partners in every sense.

Get in touch

Let's talk about what's possible.

See our approach in practice.

Explore how we evaluate and operate real estate.

Explore our strategy

Investors

Your investor portal.

Access your existing investor account or get in touch with the Metastone team.

Existing investors

Sign in to your account.

Continue to AppFolio Investment Manager to access your existing Metastone investor account.

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Let's connect

Let's talk about
what's next.

Exploring an investment, bringing us a property, or looking to partner? Tell us what you have in mind.

(605) 231-9256 info@metastone.com

Aerial view of Mesa Heights apartments in Sioux Falls — Mesa Heights · Sioux Falls, SD

945 South Marion Road, Suite 201 · Sioux Falls, SD 57106

From the field

Insights.

Updates from our portfolio and perspectives on the work behind real estate investing.

Meet the properties behind the stories.

Explore the assets featured across our portfolio.

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← All insightsInvestment Perspectives

Sioux Falls housing: September 2026.

Inventory rose 6.4% from a year earlier, asking prices eased and median listing time shortened. A closer look at the September data for the Sioux Falls metro.

By Metastone Capital GroupOctober 20, 20263 min read

September 2026 Sioux Falls metro: 1,469 active listings, $362,200 median asking price and 48 median days on market. Realtor.com® Economic Research.

More choice for buyers

The Sioux Falls metro had 1,469 active residential listings in September 2026, up from 1,380 a year earlier. That is an increase of 6.4%. The median asking price was $362,200, down 2.1% from $369,925 in September 2025.

At the same time, median days on market fell from 52 to 48. More available listings and shorter listing times can coexist. September's figures do not support a simple story that every part of the market was slowing down.

New supply and pending listings tell different stories

New listings increased from 402 to 434, an 8.0% gain over the same month last year. Pending listings were nearly unchanged at 503, compared with 501.

New listings measure properties entering the market during the month. Active and pending counts describe listing availability and status. These measures are useful together, but none of them is a count of completed sales. Dividing active listings by pending listings would not establish months of supply.

What the asking-price change can tell us

The lower median asking price describes the homes listed during this period. It does not mean that an individual Sioux Falls home lost 2.1% of its value. A change in the mix of homes for sale can move the median even when comparable properties have not changed by the same amount.

Our reading is that buyers had a larger pool of listings to evaluate, while sellers still faced a market where pricing and property fit mattered. Establishing the right price for a particular property requires comparable homes, condition, location and recent transaction evidence. The metro median is a starting point for that work.

Keep the property and the period in view

For an owner or buyer, the next useful step is to narrow the comparison to similar properties in the relevant area. A metro-wide residential listing series cannot establish apartment rents, a building's operating income or the value of a self-storage business.

This article compares September 2026 with September 2025 to keep the calendar month consistent. One monthly comparison does not establish a lasting trend or predict the next sale.

Source and method

Source: Realtor.com® Economic Research data library. Analysis uses the September metro listing series held in the market research database behind Metastone's Markets page, checked October 20, 2026. The latest successful source refresh was October 18. Figures may be revised by the publisher.

Year-over-year changes are calculated from the database's latest available observations for each period and rounded to one decimal place. The geography is the Sioux Falls metropolitan area, which extends beyond city limits. These are residential for-sale listing statistics, not investment performance results.

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Effective October 19, 2026

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Property descriptions, operating status, dates, and reported firm figures provide company background. Historical investment results describe the investment and period identified alongside them. Past performance does not guarantee future results. Investing involves risk, including possible loss of capital.

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