Gray Capital is dedicated to helping our partners build and preserve wealth and secure their financial autonomy with the assistance of diversified portfolios of cash-flowing real estate assets, with a focus on multifamily housing. Our investment thesis is built on a solid, conservative foundation paired with an opportunistic strategy: Maximize the value and use of the communities we invest in whi...read more

Principal Experience

5 Years

Real Estate Experience

15 Years

Investment Programs Offered

Syndication, Joint Venture

Property Types




Strategies Employed

CRE Acquisition

Risk Profile

Core Plus, Value Add, Opportunistic

Primary Markets

Indianapolis-Carmel-Anderson, IN, Evansville, IN-KY, Owensboro, KY


Spencer Gray

Founder, President and CEO

 · 2015 - Present

In his role as President, Spencer develops, leads and executes investment strategy, performs underwriting and due diligence of all assets in the Gray Capital portfolio, and interfaces with investors. ...read more
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Alex Gray

Founder, Senior Vice President of Operations

 · 2015 - Present

Alex Gray is a seasoned real estate executive and entrepreneur with nearly a decade of experience building businesses, managing projects, and delivering results. In addition to founding Gray Capital, ...read more
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