Evergreen Foundation

Apartment Value-Add Platform

We pursue well-located apartments, priced below replacement cost, with the ability to create value through capital improvements and enhanced property oversight. We leverage our construction expertise and vision to re position a property to a level consistent with the competition.

We focus on properties located in growth markets with the following attributes:

  • ¬†Within or near major employment hubs
  • Convenient to retail projects
  • Excellent school districts for family-oriented properties
  • Proximity to transportation corridors with freeway and light rail access
  • High barriers of entry submarket with minimal new development
  • Gentrifying neighborhood with increasing home values

We improve the property through capital and management improvements by:

  • Upgrading interiors with contemporary features
  • Investing in utility conservation programs
  • Adding or enhancing community amenities
  • Curing deferred maintenance issues
  • Improving street frontage and leasing path
  • Providing superior asset management and resident customer service

Acquisition Criteria

  • Investment Strategy: Core-Plus (14% IRR to project) and Value-add (17% IRR)
  • Property Type: Garden-style, mid-rise, and high-rise apartment communities
  • Property Size: 100+ units
  • Pricing: $15M – $100M
  • Markets: Arizona, Colorado
  • Terms: All cash or loan assumption

Kris Vercauteren,
VP Apartment Acquisitions

Stay up to date on our latest news.