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A single-asset, ground-up development in one of Pittsburgh’s most desirable suburbs.

NOX

Ground up Development

Joint Venture With

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This Offering is Now Closed

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Targets

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3 Years

Hold Period

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1.7x - 2.2x

Equity Multiple

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20 - 25%

IRR

BAM Capital is proud to present a unique opportunity to participate in an institutional development product with a nationally recognized developer.

Nox is a ground-up development that brings a Class A+ urban multifamily community to one of Pittsburgh’s most desirable suburbs, Robinson Township.

Nox will be developed by Milhaus, a prolific national developer with over 25 institutional-grade development exits.

Nox allows BAM Capital investors rare access to an institutional-grade development project in a prime location with strong base fundamentals that align with BAM Capital’s disciplined investment strategy.

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Project Highlights

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Vibrant Location with Abundant Retail Drivers

With easy access to I-79 and I-376, Nox is situated in the densest retail/employment corridor in western Pennsylvania. The project enjoys high visibility, being adjacent to Costco and the Mall of Robinson (a Simon Property Group-owned and operated Mall).

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Supply Constrained Market

The development pipeline in Pittsburgh has dropped by 54% in the past year, and of the 10 projects under construction only ONE start in 2023, the rest in 2022 highlighting the lack of supply coming online in 2024/2025. Furthermore, Nox is the only new development in Robinson Township.

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High Absorption and Stable Rent Growth

This market is known for high occupancy averaging between 95.5-98% historically. Incomes have outpaced rents in Pittsburgh over the last few years opening opportunity for rent growth. This combination positions Nox strongly to steadily raise rents without fear of vacancy.

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Local Experience and Institutional Access

Milhaus has direct experience in the Pittsburgh market with the successful two-phase development of Arsenal 201. Between the two projects, Milhaus averaged a 15-month lease up period for the new units. By partnering with Milhaus, BAM Capital’s investors gain access to an institutional grade development that will be built and managed by an award-winning company with a track record akin to BAM Capital’s.

Joint
Venture

Large white letter M above the word MILHAUS in white text on a bright green square background.
PROVEN TRACK RECORD & EXECUTION
  • Developed 49 projects in 12+ markets across the Midwest and Sunbelt.
  • 25 Projects Sold delivering a 33.9% Project Level IRR, 2.4x Realized Project MOIC with $324,000,000 in value creation.
  • Milhaus knows Pittsburgh. They were the developer, general contractor, and property manager for Arsenal 201 (two phases for 586 total units). Phase II of Arsenal 201 won the 2023 Multifamily Project of the Year Award for NAIOP Pittsburgh.
  • Milhaus engages in all facets of real estate projects from development to construction management and property management, particularly focusing on challenging urban and suburban locations in tier-two markets with limited competition, leveraging their institutional management experience for higher yields.
DISCIPLINED APPROACH TO REAL ESTATE INVESTING

BAM Capital only selects projects that fit its stringent investment thesis and those that will deliver superior risk-adjusted returns for its investors.

BAM Capital has delivered an average IRR of 34.87% and equity multiple of 2.45x to its investors within an average hold period of 3.4 years.

The BAM Companies’ executive team has 215+ years of combined real estate experience and has navigated multiple adverse economic cycles.

BAM Capital heavily vets Joint Venture partnerships before entering into business. Our relationships, cultivated by leadership, help position BAM Capital with best-in-class opportunities.

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Joint Venture

BAM Capital logo
DISCIPLINED APPROACH TO REAL ESTATE INVESTING
  • BAM Capital only selects projects that fit its stringent investment thesis and those that will deliver superior risk-adjusted returns for its investors.
  • BAM Capital has delivered an average IRR of 35.14% and equity multiple of 2.58x to its investors within an average hold period of 3.4 years.
  • The BAM Companies Executive Team combined has over 185 years of real estate experience and has navigated its way through multiple adverse economic cycles.
  • BAM Capital heavily vets Joint Venture Partnerships before entering into business. Our relationships, cultivated by leadership, help position BAM Capital with best-in-class opportunities.
Large white letter M above the word MILHAUS in white text on a bright green square background.
PROVEN TRACK RECORD & EXECUTION
  • Developed 49 projects in 12+ markets across the Midwest and Sunbelt.
  • 25 Projects Sold delivering a 33.9% Project Level IRR, 2.4x Realized Project MOIC with $324,000,000 in value creation.
  • Milhaus knows Pittsburgh. They were the developer, general contractor, and property manager for Arsenal 201 (two phases for 586 total units). Phase II of Arsenal 201 won the 2023 Multifamily Project of the Year Award for NAIOP Pittsburgh.
  • Milhaus engages in all facets of real estate projects from development to construction management and property management, particularly focusing on challenging urban and suburban locations in tier-two markets with limited competition, leveraging their institutional management experience for higher yields.

Webinar

Join VP of Asset Management Ryan Thie and VP of Investor Relations Ben Cotton as they discuss this rare and exciting investment opportunity with BAM Capital.

“

 Everyone I’ve spoken with really takes the time to get to know me as an investor. I have invested with other operators, and BAM [Capital] has by far been the best one.

– Dr. Taha S., Surgeon

“

It feels like a family, and we appreciate the transparency that we get as being part of that family. To invest with BAM Capital is to put your hands in people you trust.

– Andrea F., Investor Since 2022

“

I want a place where we can see our hardworking money that grows safely, and that’s what BAM [Capital] has been doing for us. We were lucky to have found a company like this that we can trust.

– Lulu W., Investor Since 2016

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Sometimes investing seems cold and impersonal. However, for us, investing with BAM [Capital] feels like a warm, high-touch, professional experience. Their team is dedicated to financial success for all, and we appreciate the attention to detail, and care for their community.

– Valerie & Jenni, Real Estate

“

I have many years of experience as a financial Executive in Private Equity owned companies and am very impressed with the sharp, diligent, and methodical manner in which Ivan and his team run their businesses and work with their limited partners. I have invested in several projects and have been very satisfied with the results thus far.

– Jemmie W., Private Equity Consultant

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Learn about the BAM Difference today.

We often get asked, “What makes BAM different?” or, “What is BAM’s competitive advantage?” The answer is simple: our people! Ivan Barratt’s vision for the BAM Companies is a beautiful machine of great people who help us execute our wealth strategy for our investors.

Meet the Team
Q1 2026 Event | The BAM Companies
The BAM Companies 2025 Year in Review: 15 Years of Growth and Excellence
The BAM Companies Christmas Gala & Awards Ceremony 2025

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