Acquisitions
Criteria
Asset Type
Multi-family properties (apartments)
Transaction Size
• $10 Million to $100+ Million
• Minimum 150+ Units
Age
• 1980’s and newer preferred, but will consider all age properties - with the appropriate risk/reward criteria
Target Markets
• Strong growth markets and areas in the path of progress - with a current focus on TX, GA, NC and FL
Locations
• A or B class trade areas with strong demographics and local economic anchor (government, education, medical, logistics, etc.)
Asset Quality
• Class B to C properties
• Value-add opportunities preferred
• Underperforming properties with a strong potential for enhanced yields
Occupancy
• Preferably 90+% occupancy (will consider lower occupancy if property is well located and has value add upside)
CAP Rate
• 1-2% above market for forward cap rates
General Criteria
• Potential high yield income streams
• Cost basis at 25% below stabilized value
Target Return & Investment Period
• 15-20+% return on investment (based on stabilized financials)
• 5-7+ year hold period (medium to long-term)