Location
Major U.S. metropolitan areas, including both primary and select secondary markets, but excluding tertiary (remote) locations; markets should be stabilized or recovering in terms of real estate fundamentals (rental rates, occupancy levels, etc.)
Property Types
Single and Multi-family
Condominiums
townhomes
both existing and development opportunities
Transaction Size
500,000$ and up
Tenant Base
Strong credit quality preferred
Single Assets vs. Portfolios
Single assets strongly preferred; select portfolios will be actively considered
Occupancy/Rent Roll
Current occupancy of 80% or higher, stabilized or increasing, with a manageable lease rollover schedule
Broker Cooperation
We cooperate with, protect, and compensate brokers that bring us high quality acquisition opportunities (preference given to "off-market" solicitations)
Quality/Appearance/Grade
Institutional-quality construction; Class A to B+ grade with significant ""curb appeal"" (i.e., attractive, modern and functional appearance)
Leverage/Encumbrance
Strongly prefer properties with no mortgage debt in place, but will consider leveraged properties on a case-by-case basis