General:

  • Multifamily – Opportunistic, Value-Add, Distressed, Discounted or Defaulted, Class “C” or Better.
  • Development Land/Projects – Discounted sites or projects in areas of High Growth and Profile.
  • Located in growth markets where employment and population are trending positively.
  • Have some aspect that permits a “Value-Add” opportunity, including:
    • Above market vacancy;
    • Above average expenses;
    • Below market rent;
    • Deferred maintenance;
    • Any repairs which could be completed within 6 – 9 months;
    • Ability to add units/rentable area;
    • Additional land that could be sold independently;
  • Has stable and sustainable cash flow in place at the time of purchase, or could achieve within a 3 – 6 month period of time;
  • Prefer (but not require) a component of Seller/Owner Financing.

Property Type:

Primary emphasis on Multifamily properties, 50 Units and up.

Notes:

Single or Portfolio, very aggressively priced, most asset classes accepted as collateral, no upper limit.

Markets:

Primarily Southeast U.S., with emphasis on Florida, Georgia, Alabama and Carolinas. Will consider outside Southeast on a case-by-case basis.

Age of Property(s):

1965 or newer preferred, will consider older on a case-by-case basis.

Transaction Size:

$300,000 to $30,000,000 for single properties, no upper limit on portfolios.

Occupancy:

Value-Add, able to achieve break-even occupancy within 3 – 6 months. Prefer some occupancy, but vacant properties will be considered on a case-by-case basis.

CAP Rates:

Very competitive and varies with the quality of the income stream and the velocity at which it grows.

Hold Period:

2 – 7 Years for most properties. We will occasionally “Wholesale” a property if it does not fit our long-term holding criteria.

Leverage:

We will acquire properties that are “Free & Clear”, have existing debt to assume, or have a short-term “Owner Finance” component. If an “All Cash” Purchase is required, we must be able to realize a substantial discount below Full Market Value.

What to expect:

  • Quick contract and Due Diligence turnaround, typically 30 days or less.
  • Flexible and innovative deal structures to meet the needs of the Seller.
  • Experienced and responsive team throughout the acquisition process.