Value-Add Multifamily
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