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A Vertically Integrated Multifamily Investment Platform
Orinova Capital is a Midwest-focused multifamily investment platform combining institutional underwriting discipline with localized operational execution. We focus on structurally durable Midwest markets where disciplined underwriting and operational control create repeatable risk-adjusted returns. Through integrated property management and capital project oversight, we maintain direct control over asset performance while aligning interests with our investment partners.
Operating Structure
We operate through a vertically integrated structure designed to strengthen sourcing, underwriting, and asset-level execution. Through our partnership with Tenova Management and Nova Mechanical, we maintain direct oversight across leasing, maintenance, and capital execution. By maintaining direct involvement across property operations and capital project oversight, we drive consistency, accountability, and disciplined performance management.
Institutional Underwriting
Disciplined investment selection grounded in conservative assumptions, structured capital frameworks, and clearly defined risk-adjusted return targets.
Capital Project Oversight
Structured management of renovation and improvement initiatives with focus on cost control, scope discipline, and timeline accountability.
Integrated Asset Management
Active oversight of leasing strategy, expense control, and operational execution to ensure alignment between underwriting and performance.
Alignment of Interests
Meaningful sponsor co-investment alongside limited partners, supported by performance-based economics designed to reward outperformance.
Leadership
Orinova’s leadership team combines institutional capital markets experience with vertically integrated operating expertise across Midwest multifamily markets.
Ryan Strub
Founder & CEO
Ryan Strub is the Founder & CEO of Orinova Capital. He brings 18 years of experience in real estate private equity and construction, with a focus on institutional capital markets and asset execution. Ryan previously served as a senior leader at CrowdStreet, where the platform facilitated more than $4 billion in capital formation. Over the course of his career, he has acquired over $640 million in real estate alongside institutional partners including Goldman Sachs and AEW.
Emily Blaylock
President, Griffinova Services
Emily Blaylock brings more than 20 years of commercial real estate lending experience across national and regional institutions, including PNC, Royal Bank of Canada, and Wells Fargo. In 2022, she spun off the Economic Development niche lending division she created within a community bank and she grew it into her own company, Untamed Equity, LLC. As President of Fortuna Investments, Inc. Emily is responsible for the financial operations of the portfolio as well as asset management and investor reporting.
Joshua Jeffers
Principal
Joshua Jeffers brings more than 20 years of experience in real estate investment and development. He serves as President and CEO of J. Jeffers & Co., a Milwaukee-based development and investment firm, and began his career in the acquisitions group at Walton Street Capital in Chicago. Over the course of his career, he has completed more than $1.4 billion in commercial real estate transactions. At Orinova Capital, he leads investment strategy and development execution, leveraging deep relationships and operating expertise across Midwest markets.
Mike O'Connor
President, Tenova Management, Inc.
Mike O'Connor brings nearly three decades of real estate ownership and operating experience in the Milwaukee market. He co-founded Dominion Properties in 2000 and grew the firm into a 400-unit apartment and commercial portfolio through disciplined acquisitions, dispositions, 1031 exchanges, and development projects. In 2025, he transitioned from ownership and joined Tenova Management, where he oversees a 12-person leasing and operations team. Tenova’s affiliated maintenance platform, Nova Mechanical, includes 13 team members supporting property operations. Through Tenova, he plays a key role in Orinova Capital’s vertically integrated operating model, providing local market expertise and institutional-grade property management oversight across the portfolio.