Target Properties

We focus on properties that are too small for institutional capital, but too large for individual investors.

 

Property: Core Plus

The core-plus assets we consider may share many of the same characteristics of core assets with one or more exceptions, which allow us to create value through minor improvements in the property, operations, or marketing. These assets allow us to come in with a specific business plan to force appreciation through increasing NOI. With core-plus assets the idea is to balance moderate risk with a moderate return. Our criteria for selecting a potential core-plus asset includes:

  • Class A and B properties in A or B areas
  • Built from 1980-2016
  • Between 10-150 units
  • Priced from $1-$15 million
  • Projected 1.8x+ equity multiple
  • Projected 18.0%+ IRR

Property: Value-Add

The value-add assets we consider generally have a problem that needs to be corrected, which allows us to create value through improvements in the property, operations, and/or marketing. These assets allow us to come in with a specific business plan to force appreciation through increasing NOI. With value-add assets the idea is to balance medium-to-high risk with a medium-to-high return. Our criteria for selecting potential value-add assets includes:

  • Class A, B, and C properties in A or B areas
  • Built from 1980-2016
  • Between 10-150 units
  • Priced from $1-$15 million
  • Projected 2.0x+ equity multiple
  • Projected 20.0%+ IRR

Property: Opportunistic

The opportunistic assets we consider are generally extreme turnaround situations, which allow us to create value through major improvements in the property, operations, and marketing. These assets allow us to come in with a specific business plan to force appreciation through increasing NOI. With opportunistic assets the idea is to balance high risk with a high return. Our criteria for selecting a potential opportunistic asset includes:

  • Class A, B, and C properties in A or B areas
  • Built from 1980-2016
  • Between 10-150 units
  • Priced from $1-$15 million
  • Projected 2.5x+ equity multiple
  • Projected 25.0%+ IRR