Question 1

Market Selection

Accepted Answer

Our focus is on markets that offer strong opportunities for rent growth and job creation. We look for markets that have favorable demographics, diverse and resilient economies, low vacancy rates, and strong renter demand. We also consider supply and demand dynamics, the regulatory environment and competitive landscape and ultimately perform both qualitative and quantitative analyses.

Question 2

Asset Selection

Accepted Answer

We invest in assets built after 1960 that have quality builds but need renovation to maximize their upside potential. We look for properties that may have deferred maintenance, outdated interiors, underutilized amenities, and below-market rents. By targeting properties that are well-located, have functional floor plans, and have the possibility for strong operational performance, we ensure that our value-add strategy will be a success.

Question 3

Acquisition Strategy

Accepted Answer

We source deals by going direct to building owners, as well as through our broker network. We have established strong relationships with local and national brokers who provide us with access to quality deal flow and market intelligence. By leveraging our own network and marketing efforts to reach out to owners directly, we can offer them a quick and hassle-free sale process. Our underwriting and due diligence process is robust, and we negotiate the best possible terms and price.

Question 4

Financing Strategy

Accepted Answer

Evaluating and selecting the most favorable debt for each deal is essential. We work with various lenders, including banks, agencies and bridge lenders to secure competitive financing that matches our business plan and exit strategy. We do not over-leverage properties and maintain adequate reserves. We also seek interest-only periods, flexible prepayment options and long-term fixed rates.

Question 5

Value-Add Blueprint

Accepted Answer

Our proven business plan of renovating units, common areas and exteriors to achieve top rents and increase NOI is at the core of what we do. We implement a cost-effective and high-impact renovation program that includes upgrading flooring, cabinets, countertops, appliances, fixtures, and lighting in the units. We also enhance the curb appeal, landscaping, signage, parking, and lighting of the property.

Question 6

Asset Management Strategy

Accepted Answer

Our team takes a hands-on approach to asset management. With a background in property management, we know what it takes to succeed. We partner with reputable management companies that share our vision and values, and oversee the day-to-day operations, financial reporting, leasing, maintenance and tenant relations of each property. We implement effective marketing and retention strategies to increase occupancy and tenant satisfaction and conduct regular site visits, audits and inspections to ensure the quality and performance of our assets.

Question 7

Exit Strategy

Accepted Answer

Each deal is evaluated individually to maximize returns. We monitor market conditions, property performance and investor objectives to determine the optimal time and method to exit each deal. We also explore the possibilities of refinancing, recapitalizing, or exchanging our properties to preserve and grow our equity.

Investment Strategy

Investment Strategy

Our Process

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