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.

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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.

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Get to know the partners responsible for the work.

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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.

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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.

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

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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.

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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

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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, ZIP by ZIP.

September inventory rose about 21% in 57106 and fell 20% in 57107. Four Sioux Falls ZIP-code comparisons show why a metro headline is only the beginning.

By Metastone Capital GroupOctober 20, 20263 min read

Active listings, September 2026 versus 2025: 57106 +21.0%, 57107 −20.0%, 57108 +21.9%, 57103 −1.0%. Realtor.com® Economic Research.

A broader market can contain opposite moves

Active residential listings across the Sioux Falls metro increased 6.4% between September 2025 and September 2026. Within that broader market, individual ZIP codes followed different paths.

The four examples below come from the ZIP-code listing series in the market research database behind Metastone's Markets page. They illustrate local differences; they are not a ranking of places to buy.

57106 and 57107 moved in different directions

In 57106, active listings increased from 181 to 219, up 21.0%. Median days on market rose from 43 to 51. The median asking price was $329,900, compared with $332,425 a year earlier, a decline of 0.8%.

In 57107, active listings fell from 90 to 72, a 20.0% decline. Median days on market dropped from 73 to 45, while the median asking price rose 3.1%, from $358,800 to $369,900.

Those figures alone do not establish stronger demand in 57107: pending listings there also fell, from 26 to 17. A smaller active inventory can reflect several forces, and the listing series does not isolate the cause.

Similar inventory changes can come with different timing

In 57108, active listings increased from 178 to 217, up 21.9%. That was close to the percentage increase in 57106, but median days on market in 57108 changed only slightly, from 42 to 43. The two ZIP codes had similar inventory growth without the same change in listing time.

In 57103, active listings were almost unchanged at 95, compared with 96 a year earlier. Median days on market fell from 44 to 35, and the median asking price moved from $313,625 to $312,500. A nearly flat inventory count did not mean every other measure stood still.

Use the data to sharpen the next question

For a specific property, these differences suggest questions worth investigating: How many similar homes are available nearby? Are those properties comparable in size and condition? How does the proposed price compare with recent sales and current competition?

A ZIP code still includes different property types and price ranges, and its boundary is not the same as a neighborhood boundary. Changes in the homes being listed can affect both prices and timing. Smaller areas can also show larger percentage swings from relatively small changes in listing counts.

The practical lesson is to use local data to focus the research, then evaluate the property itself. Residential listing statistics do not establish rental demand, apartment operating income or a future investment return.

Source and method

Source: Realtor.com® Economic Research data library. September 2026 is compared with September 2025 using the latest available observations in Metastone's market research database, checked October 20, 2026. The latest successful refresh of the metro and ZIP-code sources was October 18. Percentage changes are rounded to one decimal place; publisher revisions may change historical figures.

ZIP-code figures and the metro total describe different geographic areas and should not be added together or averaged to reproduce the metro result. Asking prices are not completed sale prices, and a change in the median is not a measure of appreciation for the same home.

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