About this Fund
The Fund’s investment objective is to acquire and physically improve, reposition, and refinance upon stabilization, thereby maximizing the value of the investment. The Fund specifically targets undervalued multifamily assets in primary markets with below market rents, in which have an opportunity to add-value through extensive interior renovations, strategic upgrades and amenities, and more efficient management. As a result, The Fund will raise in-place rents to market, thus maximizing the value of the property, and the return on the investment.
- Assets that are in gentrifying urban-infill markets with strong fundamentals that create high job, population and rent growth.
- Sellers who for various reasons are in some position of distress which requires them to dispose of the property quickly or in another manner that does not allow them to realize full market value. Examples of these distressed situations include, but are not limited to divorce, inheritance, partnership disputes, or legacy ownership mismanagement.
- REO property from lenders who do not have the expertise, experience, time, and/or desire to take the necessary steps to maximize the property value.
- The real estate may require repositioning, rehabilitation, repair, additions, or other improvements that will be accretive to the property’s value upon completion.
- Acquisition price is typically below replacement cost and/or real market value.
- The expectation at Acquisition is that the sum of the Acquisition price plus the Fund’s costs to repair/improve the property will be substantially below the expected future sales price by the Fund and/or would produce strong cash on cash returns when rented at expected levels.
- Well located real estate that is expected to outperform the general market over time.