About Us

APG Capital is a real estate investment and development firm headquartered in Raleigh, North Carolina. Jim Anthony, CEO and founder of APG, started the company in 1987. APG Capital has purchased, developed, leased, and managed commercial real estate assets in the Southeast for over 30 years.


Since its founding, APG has successfully acquired and developed over $750mm of real estate in North Carolina, South Carolina, Georgia, Tennessee, and Virginia. Property types include industrial, flex, office, retail, apartments, affordable housing, student housing, town homes, single family residential, mixed-use, and land.

APG’s investment strategy focuses on acquiring value-add industrial, office, and multifamily assets below replacement cost. In addition, APG undertakes limited horizontal and vertical development alongside land banking in North Carolina. APG has also successfully joint ventured with top-tier partners on mixed-use vertical development projects and acquired real estate assets outside of North Carolina. Over its three-decade history, APG has consistently adapted to changing markets and delivered outstanding returns through its opportunistic investment strategies. Skillfully acting on market opportunities is one of APG’s distinctive traits.

Investment Criteria


  • Low occupancy and/or low rents required
  • Deferred maintenance issues
  • Capital constrained ownership
  • Market fundamentals must be strong
  • Below depreciated replacement cost pricing
  • Priced from $5M up to $50M

Workforce Housing

  • Class B and C communities of 50 units and up
  • Vacancy and deferred maintenance problems
  • Solid market fundamentals required
  • Below depreciated replacement cost
  • We buy land to build up to 50 units or to add value from $3M to $50M total cost


  • We buy reposition and redevelopment opportunities
  • Below depreciated replacement cost
  • Solid market fundamentals are required
  • Class B to D properties of 50,000 SF and up
  • We buy value add above $4M cost or redevelopment up to $20 M


  • We buy repositioning opportunities, must be priced below depreciated replacement cost
  • Solid market fundamentals are required
  • We buy in second tier urban and primary suburban markets to invest in viable, undercapitalized properties with vacancy and deferred maintenance from $3M up to $30M

Land for Builders/Developers

  • We buy land to create value in our markets: North Carolina, South Carolina, Georgia, Tennessee, and Virginia metros on I-85 / I-40 Corridor
  • We do JV opportunities with owners seeking experience, skills, and capital
  • We buy land for home and apartment builders from $1M to $10M value

Historic Properties

  • High community impact required
  • Residential, office, mixed-use, retail/service
  • Tax credits NOT required
  • Must be located in our markets: North Carolina, South Carolina, Georgia, Tennessee, and Virginia metros
Meet Your Team

Meet Your Team

We strive to be creative, generous, and compassionate as we lead our team into the future. APG Capital delivers great places to live and work, as well as improves the quality of life for people in the Southeastern United States. We empower our people to be compassionate and act with integrity for our clients and our communities alike.

Culture and Values


We prioritize generosity in our North Carolina markets through a variety of organizations and causes.


Our people are our priority, and we want to help them achieve the very best that they can.


As experts in our field, we are committed to doing the best work we can in our community.


We always focus on moving forward with innovation and creativity.


We strategically deliver great places to live and work.

Company Timeline


Jim Anthony starts career with Grubb & Ellis Co. as an industrial broker in Sherman Oaks, CA. Wins industrial “rookie of the year” award in 1980.


Jim makes his first real estate investment in a closed rest stop in Castaic, CA. Pays his father 22 percent interest on his two year loan.


Jim moves to Raleigh as Director of Leasing and Management at NAI Carolantic Realty. Jim buys his first industrial building in Garner.


Jim creates Anthony & Co. and opens for business at 520 Brickhaven Dr in offices of Cherokee Brick Company.


Jim moves office to 1600 Glenwood Ave, is admitted to SIOR, is voted President of Triangle Commercial Association of Realtors, and is awarded Entrepreneur of the Year by the Raleigh Chamber of Commerce.


Company buys and moves to 1015 Wade Ave, and triples in size in two years as CRE markets collapse.


Company moves to 1300 St Mary’s St, to 1041 Washington St, and then to 702 Oberlin Rd in 1994, syndicates over $100 million of distressed office, retail, multifamily and investment transactions in 4 states.


Jim buys Allenton Commercial in Durham, one of the oldest commercial real estate brokerage firms in the state. The merged Company is re- named Anthony Allenton.


Jim is named Triangle Commercial Realtor of the Year.


Anthony & Co. gets its name back and affiliates with ONCOR International.


Jim forms AACRE Properties, an independent development company, and syndicates over $350 million of new investments and developments in NC, NY, SC, and GA.


Anthony & Co. joins Colliers International as the affiliate for most of NC from the Triad to the Coast.


Anthony Property Group replaces AACRE Properties and resumes syndication of investments and development of land. APG today has the largest number of land /building redevelopment projects in Eastern NC: over 30 projects with a potential value of over $500M.


Colliers RDU and APG relocate for first time in 25 years to 1201 Edwards Mill Rd in Raleigh, and continue to grow into one of the largest CRE offices in North and South Carolina.