Introduction
Our "buy box" provides many advantages over managers who target larger apartment complexes. It may be more work to underwrite a large volume of opportunities and negotiate with "mom and pop" operators, yet the results speak for themselves. In addition, at disposition we have a much larger pool of buyers to sell to, than if we were selling a $250M complex.
Property Specifications
- Class B or better
- 1990's vintage or newer
- Small communities (20 - 150 Units) in infill locations, which tend to have above market occupancy rates. Larger projects meeting all other guidelines will also be considered on a case by case basis
- Under-performing or under-managed with highly attractive acquisition capitalization rates
- 90% Occupancy
- Rents 10% or more below market rent
- Light Value Add Opportunity (Core Plus):
Office Upgrades I Signage I Amenities I Flooring I Cabinets, Countertops, Backsplashes | Paint I Lights and Plumbing Fixture