PA Partners
Development ConsultingCapital Stack ArchitectureInternal Development

Development capital, structured with discipline.

PA Partners advises operators, sponsors, and family offices on public and private fund strategy, capital stack architecture, underwriting, and development planning while pursuing our own multifamily and mixed-use projects.

Currently advising sponsors and family offices on active capital plans.

What PA Partners Builds

We sit at the intersection of real estate execution, capital strategy, and operating company formation. The consulting practice is the primary client-facing offer; internal development and new business formation keep our advice grounded in work we do ourselves.

Client advisory

Development Consulting

Capital architecture, fund consultation, underwriting, feasibility, and development planning for sponsors and operators.

Principal activity

Internal Development

Our own multifamily and mixed-use development work, shaped by disciplined underwriting and practical execution.

Company building

New Business Opportunities

Operating company formation and venture incubation, including FrunkVault, our direct-to-consumer e-commerce brand.

Public & Private Fund Consultation

Fund formation support, investor-facing materials, mandate framing, and capital partner strategy for operators moving from idea to institutional-grade process.

Capital Stack Architecture

Senior debt, preferred equity, sponsor equity, public incentives, reserves, and exit scenarios organized into a coherent finance plan.

Underwriting & Feasibility

Acquisition screens, development pro formas, sensitivity tables, lender packages, and decision memos built for real-world capital conversations.

Development Planning

Pre-development strategy, mixed-use positioning, partner coordination, cost review, and milestone planning from concept through closing.

Selected Work

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Multifamily Development

Multifamily Development

Internal development and repositioning work in cash-flowing residential assets.

Mixed-Use Planning

Mixed-Use Planning

Feasibility, capital planning, and execution support for layered urban projects.

FrunkVault

FrunkVault

A direct-to-consumer e-commerce brand developed through our new business platform.

Our Team

Evan Spencer

Evan Spencer

Managing Partner

Evan Spencer boasts a decade of seasoned expertise within the domains of private equity and real estate investments. A dynamic professional known for his strategic acumen, Evan thrives on cultivating synergistic partnerships with driven entrepreneurs and visionary real estate leaders. His unwavering commitment lies in facilitating the realization of their aspirations and objectives.

Currently Hiring

Currently Hiring

Administrative Associate

We’re looking for a focused professional whose key responsibility is to co-manage daily tasks within the company’s commercial real estate portfolio, and other related assignments. This role combines project management, critical thinking, and problem solving skill sets to help bring our projects to market.

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