Commercial real estate (CRE) sentiment is subdued, and deal activity has cooled, but Blake J. Owens sees an attractive turning point. The 30-year-old Las Vegas native, whose family has lived in the city for over a century, is capitalizing on this moment to transform CRE through his two companies: Agrippa and Augustus.
After earning a degree in economics from UCLA and working at firms like Wedbush Securities and Goldman Sachs, Owens returned to Las Vegas. At just 24, he was named Chief Investment Officer of a local CRE development firm. During his tenure, Owens participated in over $600 million in transactions with institutional powerhouses like Carlyle, Cantor Fitzgerald, Silverstein and Lennar—all before turning 27.
Frustrated by costly intermediaries and inefficiencies in CRE capital raising, Owens founded Agrippa, which he describes as the “AI-driven Match.com for commercial real estate.”
“Technical complexities aside,” Owens says, “Agrippa provides feedback on profiles and deal presentations to help users connect based on shared criteria and preferences.”
With a user acceptance rate below 50%, Agrippa is an exclusive platform designed to connect capital seekers—developers, property buyers and sellers—with capital providers like private equity firms, family offices and high-net-worth individuals. The platform features deals ranging from $10 million to over $100 million, averaging between $40-$50 million, across multifamily, office, retail, industrial and other property types.
To complement Agrippa, Owens established Augustus, an investment firm to capitalize on both Agrippa itself and the platform’s most promising opportunities. Augustus recently launched its first fund, Augustus QOF I, as a $7.5 million Qualified Opportunity Fund (QOF) structured to leverage the Opportunity Zone (OZ) program tax benefits. The fund originated from capital gains tied to a $45 million ground lease sale beneath the Eastside Cannery Hotel & Casino, a deal originally featured on Agrippa.
Working closely with the seller, Owens and his team applied game theory—a mathematical approach to strategic decision-making—to the transaction. Although buyers expressed interest through Agrippa, the team analyzed market dynamics, buyer intent and long-term incentives, ultimately identifying Boyd Gaming, the building’s current owner, as the optimal counterparty for the land.
After closing the Eastside Cannery deal, Owens recognized broader potential in the OZ framework and relocated Agrippa’s headquarters to qualify as a Qualified Opportunity Zone Business (QOZB).
“I saw a unique opportunity to combine tech, CRE and OZ tax advantages,” Owens says. With QOZB status secured, Augustus QOF I has committed $2 million to support Agrippa’s operations. The remainder of the fund is earmarked for co-investment in a nearly $90 million ground-up multifamily development in Salt Lake City, reflecting his continued bullishness on commercial real estate.
“We’re in a rare window where long-term fundamentals look strong, but market sentiment still lags,” Owens says. “Valuations have compressed. Green Street’s Commercial Property Price Index dropped nearly 22% from mid-2022 through early 2024 and has only recovered about 4.5%. Construction starts remain low as well, but policy tailwinds like Opportunity Zones and bonus depreciation are back in play, creating an exceptional environment for projects set to deliver in the coming years.”
He calls the OZ program one of the most powerful tools for investors, offering benefits like deferral of capital gains, elimination of capital gains tax after 10 years and exemption from depreciation recapture. With legislation under review to extend the OZ program, and support for restoring 100% bonus depreciation, Owens believes the tax landscape now favors well-timed CRE investments.
Looking ahead, Owens envisions Las Vegas becoming a hub for innovation, and he’s building a team to match that ambition. Agrippa’s core team includes a former Meta engineer with a PhD from Notre Dame, an ex-investment banking analyst and a Purdue graduate with a background in computer science, mathematics and psychology, who relocated recently to join Agrippa. As part of its long-term strategy, Agrippa aims to hire locally or attract outside top talent to build careers in the city.
Agrippa is backed by the AngelList Quant Fund and prominent Las Vegas investors, including individuals who helped shape the city’s skyline and UNLV Hall of Famers. The company also sources guidance from top CRE advisors, including the former CTO of Greystar, a co-CIO of Bridge Investment Group, and a Managing Director at Capro Capital.
“Agrippa and Augustus complement one another,” Owens says. “They reflect the dynamic partnership of the historical Roman figures they’re named after, but 2,000 years later and based right here in my hometown at exactly the right time in the market.”
For private equity firms, family offices and high-net-worth individuals seeking high-value opportunities, Owens and his team believe Agrippa and Augustus represent a compelling entry point into commercial real estate. To learn more, visit agrippa.com.