Investment Overview

Geographic

 

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.

 

Property Level

 

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