From a top-down approach, we search out Class B/C properties in growing neighborhoods and MSAs with strong population and employment trends.

Markets

  • 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).

 

Properties

  • 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).