Acquisition Criteria
Multifamily residential apartments
- Size and Price: 50+ units in the $4MM – $50MM range.
- Type: C- to B+ properties located in C- to A areas.
- Property Vintage: 1975 or newer.
- Location: Emerging market areas with indicators for strong near and long-term economic growth.
Shopping centers & Single Tenant Net Lease Buildings
- Location: Prime, high-visibility areas with strong foot traffic and access. Prime for both, but especially main roads or high activity zones for STNL.
- Occupancy & Tenant Quality: High occupancy in shopping centers with a mix of reliable tenants. STNL should have creditworthy, preferably nationally recognized tenants.
- Financial Health: Stable, proven income with growth potential through rent increases or upgrades. Long-term leases with escalation clauses are preferred for predictable cash flow.
- Physical Condition: Well-maintained properties requiring minimal capital expenditure. Modern amenities in shopping centers; STNL buildings should have limited repair needs.
- Market Strength: Dominant market position for shopping centers with low competition and high demand. STNL buildings should be in economically resilient areas with sustained demand.
Neighborhood Homes Development
- Location: Preferably in areas with a strong demand for housing, good school districts, and low crime rates.
- Lot Size: Suitable for 75-400 residential lots, with each lot accommodating single-family homes.
- Infrastructure: Access to essential utilities (water, electricity, sewage) and roads.
- Zoning: Residential zoning that allows for the intended development density.
- Market Demand: High demand for new homes in the area, with a focus on the target market's preferences (e.g., families, retirees).
- Environmental Considerations: Minimal environmental constraints, with necessary permits for development easily obtainable.
Commercial Development & Multi-Family Development
- Location:
- Commercial: High-visibility, near major roads and commercial attractions.
- Multi-Family: High rental demand areas, close to employment and amenities.
- Lot Size:
- Commercial: 25-100 acres for mixed-use.
- Multi-Family: Supports 75-400 units, subject to density limits.
- Infrastructure:
- Common: Adequate for both commercial activities and residential living, including utilities and internet.
- Zoning:
- Commercial: Supports diverse business types.
- Multi-Family: Allows residential and possible mixed-use.
- Market Demand:
- Commercial: Expanding zones with Strong demand for space.
- Multi-Family: High rental interest, tailored to target demographics.
- Accessibility/Services:
- Commercial: Good transport access.
- Multi-Family: Near schools, parks, and healthcare.