We typically seek assets in the following states:
- Southeast: Florida, Alabama, Georgia, South Carolina, North Carolina, Tennessee
- Mid-Atlantic: Kentucky, Virginia, Maryland, Pennsylvania
- Southwest: Texas
Geographic: Market Supply/Demand, Employment, and Trade factors
Assuming a stable to positive trending macro-environment, we seek:
- Reasonable to strong employment trends
- No evidence of significant over-supply.
Qualitatively we seek:
- properties that we believe have a minimum stabilized upside as a “B” quality asset
- Initially, properties in “C-“ condition or better where we can envision a realistic rehab/repositioning plan that leads to a stabilized “B” asset
- Typically we do not seek “ground up” new construction opportunities, however, we do acquire assets which require substantial rehabilitation
- Generally target multifamily properties of 200 units or more.
- Typically target assets built or fully renovated in 1980 or later.
- We acquire both market-rate and seasoned rent-controlled affordable housing