From Managing 450+ SFRs to $150M AUM: How Ben Bowerman Scaled HPP Equity Across Student Housing, Multifamily, and More

From Managing 450+ SFRs to $150M AUM: How Ben Bowerman Scaled HPP Equity Across Student Housing, Multifamily, and More

The sixty-seventh episode of Groundbreakers Podcast by Homebase! Listen in for an amazing interview with Benjamin Bowerman, Vice President at HPP Equity.

Domingo Valadez

Jun 17, 2025

Podcast

Episode Summary

In this episode of Groundbreakers, Ben Bowerman, Managing Partner at HPP Equity, shares how he scaled from managing 450+ single-family rentals to overseeing a diversified real estate portfolio with over $150M in assets under management. Ben breaks down the strategy behind HPP’s transition into student housing, multifamily, and build-to-rent—and why he believes in holding assets for the long term.
He also shares lessons learned from property management, the power of in-house operations, and how his team built a vertically integrated platform that aligns investor goals with long-term generational wealth.

To listen to this episode, follow this link to Groundbreakers on Spotify!

Key Points Discussed

• From Property Manager to Portfolio Builder: Ben started his real estate career in the trenches—managing hundreds of SFRs. He talks about how that experience shaped his perspective on operations and scale.
• Scaling into Student Housing: HPP Equity’s entry into student housing wasn’t accidental—it was strategic. Ben explains why the team leaned into this asset class, and how they’ve generated strong returns with disciplined underwriting.
• Lessons in Vertical Integration: HPP manages construction and property management in-house. Ben shares the benefits and challenges of controlling the full lifecycle of an asset, from acquisition to renovation and lease-up.
• Investor Education & Communication: Ben emphasizes the importance of transparent investor updates and setting realistic expectations in today’s economic climate. He also shares how his team educates investors who are new to commercial real estate.

Guest Information

• Name: Ben Bowerman
• Role: Managing Partner at HPP Equity
• LinkedIn: Ben Bowerman
• Website: HPP Equity

Conclusion

Ben Bowerman’s story is a masterclass in scaling real estate the right way—slow, steady, and intentional. From property management to private equity, his journey proves that with the right operational backbone, it’s possible to go far without overextending. His long-term mindset, focus on value creation, and investor-first approach make this a must-listen for anyone thinking about scaling beyond their first few deals.

Connect with Ben on LinkedIn to learn more about HPP Equity and their investment thesis.

DOMINGO VALADEZ is the co-founder at Homebase and a former product strategy manager at Google.