- Property Type: Multifamily apartment buildings that are roughly one class below the surrounding area. Our primary focus is C+ to B class properties in B or better areas.
- Property Location: Growing primary, secondary, and tertiary metros primarily located in the southeast United States.
- Property Size: 90 – 250 units
- Property Age: Typically built circa 1980 or later.
- Project Cost: $3 – $10 Million
- Financing: Long term agency financing followed by supplemental cash-out financing; bridge loan followed by refinancing to agency debt after stabilization
- Cash Flow: Positive cash flow beginning in Year 1 and increasing throughout the hold period, in addition to significant profits upon disposition.
- Anticipated Returns: Internal Rate of Return (IRR) of 14% to 18% compounded over 5 years.
- Primary Focus: Value-add and repositioning plays leading to strong cash flows and asset appreciation.