From a top-down approach, we search out Class B/C properties in growing neighborhoods and MSAs with strong population and employment trends.
- Cities/metros with a population of 250,000+
- Business-friendly markets with landlord-friendly policies.
- Communities with low-to-medium housing costs, obstacles to new supply, recent local government investment and developer investment.
- We look to contribute to the overall communities we serve.
Preferred Markets: Portland OR, Atlanta GA, Memphis TN, Indianapolis IN, Jacksonville FL, Orlando FL, Birmingham AL. (New markets are being researched continuously).
- We source our deals primarily through brokers and business partners.
- Class B/C properties are generally built between 1960-2000
- Apartment communities of 100+ units to create economies of scale and to cover onsite management expenses.
- We always look for areas where we can create value through improving operations. Ideal properties have one or more value-add components (deferred maintenance, below-market rents, under-performing property management, poor cost controls, aged building needing modernization, and community development opportunities).