WHERE YOUR STRATEGY TAKES FLIGHT
Ternstone Holdings is named for the Arctic tern, a small seabird with the longest migration on earth, and for stone, the most enduring of building materials—and those two ideas define who we are. We travel widely and pay attention to how people live, work, and gather in different places, then bring those lessons home to the projects and markets we know best. The “tern” in our name speaks to range, curiosity, and perspective; the “stone” speaks to disciplined underwriting, tangible assets, and a commitment to holdings that last across cycles and generations. Together, they capture our philosophy: see more of the world, choose ground carefully, build well, and hold what’s truly worth keeping.
OUR PORTFOLIO
WHO WE ARE
Zach Prager
FOUNDER | MANAGING PARTNER
Zach Prager is the Founder and Managing Principal of Ternstone Holdings, a North Carolina‑based real estate development and investment firm focused on multifamily and mixed‑use projects. At Ternstone, Zach leads the firm’s investment strategy, capital formation, site acquisition, underwriting, and overall project execution. His approach blends disciplined financial analysis with a commitment to creating thoughtful, enduring projects.
Before establishing Ternstone, Zach served as Director of Investments and Partner at Austin Lawrence Partners–East, where he oversaw fundraising, investor relations, and the sourcing and evaluation of new acquisition opportunities. He began his career at Citigroup in New York, working in high‑yield and structured credit, experience that informs his analytical orientation and risk‑management philosophy.
Zach is a graduate of Duke University, where he studied psychology and earned a certificate in markets and management studies. He remains actively engaged in the Durham community, serving on the boards of the Durham Children’s Initiative and the Duke Triangle Alumni Association.