Criteria for Multi-Family Apartments:

Capital allocation and placement includes Stabilized and Economic Repositioned multifamily assets with quality local management.
Pricing: Purchase Price: $5 to $50 Million per property: $50M plus purchased via JV Agreements

  1. The fund must be able to talk to the seller directly.
  2. No broker chains – ZERO
  3. You have to be in control of the deals.
  4. No POF’s just to look at a deal

Multi-Family Acquisitions:

Property Size: 10 to 200 units, single asset or portfolios
Property Class: A to C: Garden style, mid-rise, and high-rise
Location Quality: A to C+
Property Age: 1996 or newer-or Completely remodeled within last 3 years
Creative Investment Deal Structuring Methodology Vacancy rate of over 15%: Raise rents and occupancy to market rates, rehab, hold three to five years and sell on the improved Net Operating Income.