Thesis

Our Acquisition Strategy
We focus on acquiring under-managed, well-positioned sub-institutional assets. Our approach includes a targeted value-add strategy, encompassing both interior and exterior renovations. To ensure effective property oversight, we collaborate with top-tier property management firms in each submarket. Our acquisition criteria include 50-100 unit multifamily properties in secondary markets with populations over 100,000, particularly where population growth is evident, and new supply is limited. We typically target properties built in 1980 or later.

Investment Goals
Our objective is to stabilize each property within two years, aiming for a yield on cost that exceeds the submarket cap rate by 200 basis points, usually achieving an 8%+ yield on cost. We rely on agency debt and rigorously stress test all our deals against potential capital market and property-level risks.

Core Principles
Capital preservation is our foremost priority. Alongside this, we strive to deliver attractive, risk-adjusted returns.