Investment Strategy

Price Realty Corporation (PRC) is a trusted multifamily investment and management company that takes pride in delivering impeccable service for our investors, creating value and building lasting relationships that offer favorable investment opportunities.

Our Strategy

At Price Realty Corporation (PRC), our investment strategy is to target core-plus and workforce acquisitions of well located multifamily properties in and around the four core markets of Texas: Dallas/Fort Worth, Houston, Austin and San Antonio.

Our investment criteria is to seek acquisitions that generate current cash flow and strong long-term internal rates of return. These acquisitions include well-located assets with good economic upside potential, as well as opportunistic, REO and note acquisitions from banks, special servicers, and debt funds.

Investment Process

We begin the investment process by underwriting and touring potential acquisitions. The underwriting process is led and reviewed by our investment and management teams. This process enables us to leverage our investment experience and market-based knowledge at the asset level to provide a more accurate forecast in our underwriting.

For every potential acquisition, PRC completes a comprehensive due-diligence report that includes a multi-year financial and deferred maintenance summary, market research, lease audit and a unit-by-unit physical inspection.

Due to our strong alliances with long-term lenders and investors, PRC can move quickly on potential acquisitions that offer favorable investment prospects.

Our Focus

Product Focus

  • Acquire, at a discount to replacement cost, strong cash flowing multifamily assets with upside potential from operations and market growth
  • Strategic focus on well-located core-plus and workforce multifamily product
  • Hold period ranging from 3 to 10 years based on opportunity and individual deal merits

Geographic Focus

  • Core Texas Markets of Austin, Dallas Fort Worth, Houston, and San Antonio
  • Desirable suburban and urban infill locations

Targeted Returns

  • Maximize cash flow through Price Realty’s vertically integrated model
  • Market intel to acquire in established or growth submarkets with strong fundamentals
  • Extensive market and property level due diligence
  • Active investment management that has proactively navigated multiple real estate cycles

Asset & Property Management

At Price Realty Corporation (PRC), we provide our properties with a full range of assets and property management services, focusing on property operations, resident services and retention, marketing, property preservation and financial operations.

Modification of these management services allows PRC to customize its management programs to achieve the individual investment goals for each multifamily asset. Price Realty Corporation also provides risk management to identify potential physical risks, evaluate for potential loss and recommend solutions to eliminate risks.


  • Due Diligence
  • Marketing
  • Procurement
  • Recruiting
  • Construction Services


  • Oversee Property Fiduciary Requirements
  • Financial Analysis
  • Accounting and Financial Reporting

Get in Touch

For more information about PRC, multifamily investment opportunities, acquisitions or dispositions please contact us.

Michael Ochstein

President and Owner

Mike oversees all investment and management operations for Price Realty Corporation (PRC), which he founded in 1991. Since the acquisition of his first duplex, Mike has grown PRC to over 7,000 multifamily units and from one employee to over 150 employees. Since 1992, he has successfully closed numerous private syndications as well as institutional joint ventures, raising and investing over $160 million in equity.

Throughout PRC’s history, the firm has cultivated a loyal base of private investor relationships resulting in repeat investments in all PRC syndications. Mike also invests personally in each acquisition.

Mike began his extensive real estate career in 1983 at Marcus & Millichap, an investment brokerage firm. Specializing in the sale of multifamily properties, Mike gained recognition in the firm as one of their top agents locally and nationally.

Mike holds a Bachelor of Sciences degree from Indiana University. Professional organizations include: National Multifamily Housing Council, National Apartment Association, Texas Apartment Association, Apartment Association of Greater Dallas, Texas Real Estate Commission, The Real Estate Council.

Renee Blustein

Vice President of PRC and President of Price Realty Management Corporation

Renee joined Price Realty Corporation (PRC) in 1995 and is responsible for all aspects of property operations including financial performance, asset management, marketing, acquisition due diligence, property repositioning and value maximization, and human resources.

Prior to joining PRC, Renee served as Vice President of Monterrey Management, where she oversaw the operations of over 4,000 units in the Dallas/Fort Worth and Houston markets. She also served as Vice President of Murray Management Corporation, where she supervised the operations of 3,500 units throughout the southwest United States.

Renee attended Memphis State University and received her Certified Property Manager designation from the Institute of Real Estate Management in 1987. Professional organizations include: National Multi Housing Council, National Apartment Association, Texas Apartment Association, Apartment Association of Greater Dallas, National Association of Realtors, Texas Real Estate Commission

Randy Tuttle

Chief Financial Officer

Randy joined Price Realty Corporation (PRC) in 2001 and is responsible for all aspects of financial reporting to lenders and equity partners, as well as federal and state income tax compliance reporting.

Prior to joining PRC, Randy was a shareholder with Philip Vogel & Company, a large public accounting firm in Dallas, Texas. Randy spent a large part of his 18-year career in public accounting providing financial reporting, tax compliance and consulting services to a wide range of clients in the real estate industry.

Randy is a graduate of Iowa State University and a licensed CPA in Texas. Professional organizations include: American Institute of Certified Public Accountants, Texas Society of Certified Public Accountants.

Nick Ross

Director of Acquisitions

Nick Ross is Price Realty Corporation’s Director of Acquisitions and is responsible for investment strategy, sourcing and underwriting acquisitions, market analysis, and developing debt and equity relationships.

Prior to joining PRC, Nick held roles at firms including JCR Capital, Related Companies, and The Milestone Group where he was responsible for sourcing, underwriting, and structuring real estate investment opportunities and asset management of multifamily portfolios.

Nick is a graduate of the University of North Texas. Professional organizations include: National Multifamily Housing Council, Urban Land Institute, and The Real Estate Council.

Ty Middlebrooks


Ty Middlebrooks is part of Price Realty Corporations investments team, where he oversees the sourcing and underwriting of acquisitions, conducts market analyses, and develops investment strategies. His responsibilities also extend to cultivating both debt and equity relationships.

Before joining PRC, Ty served as an analyst on the JLL Multifamily team in the Dallas office, actively participating in commercial real estate transactions totaling approximately $1 billion. Additionally, he worked at One William Street Capital Management, a structured credit investment advisor based in New York City.

Ty earned his undergraduate degree in Economics from Davidson College in 2015 where he was a four-year letterman on the baseball team. He is actively engaged in professional organizations such as The Real Estate Council and the Texas Real Estate Commission and is a licensed real estate agent.

Jonathan Ochstein


Jonathan Ochstein joined the dominant principal investment team Price Realty Corporation in 2024. His primary focus revolves around identifying and evaluating potential acquisitions throughout the Texas market. In addition, he is actively involved in developing relationships with both investment sales brokers and furthering the outreach to PRC’s current limited partners.

Before joining Price Realty Corporation, Jonathan played a key role in investment sales as part of the Marcus & Millichap Fluellen-Hoover Multifamily team based in the Dallas office. Since 2020, he actively participated in almost twenty commercial real estate transactions, amassing a total sales volume exceeding $100 million.

Jonathan holds an undergraduate degree in Sport Management from Syracuse University, where he served as the head manager of the Women’s Basketball team and was a passionate member of the Syracuse Real Estate Club. Beyond his academic achievements, he remains actively engaged in professional organizations, including The Jewish Federation of Greater Dallas and the Texas Real Estate Commission, where he holds a license as a real estate agent.