Casoro Capital, a new private equity company formed by the PPA Group, is open and ready to tackle the Texas multifamily world…and it’s starting with a heavy focus on DFW.

Bill Papp will be leading the new Austin-based company, which started rolling out its first $50M fund last week. Bill expects about 80% of its deals—exclusively Texas multifamily—will be value-add. (It’ll also do core-plus buys and opportunistic deals like bankruptcy and new construction.) It’s on a pretty aggressive timeline for future deals—he expects to raise the fund within the next 12 months, and wants to deploy it as quickly as possible.

Via PPA, Casoro has two new developments underway in San Antonio (including Aviator Brooks City Base, rendered here), but Dallas is its focus now because of its demographics, job growth, and large Class-B and –C inventory. Casoro already owns some properties here, and it’s wasting no time expanding that portfolio—Bill tells us he’s already bid on some assets. He expects to close on the firm’s first transaction within 100 days. The firm will source deals through its parent, PPA (which also will offer its property management and software capabilities), but will also partner with other operators and capital groups.