Transaction Criteria — What we want
a smooth transaction
We are looking for large Class-B multi-family properties in desirable locations, with thoughtful designs and amenities.
We analyze each potential acquisition, evaluating its financial and operational feasibility, as well as its likely return on investment. We are looking to actively capitalize on the properties positive attributes coupled with the strong demographic trends driving the multi-family market.
Our level of confidence in multi-family is high. We prescribe relentlessly to the principle that the multi-family housing market holds unique opportunities. Looking forward, we expect the demand for quality housing to continue to grow. We plan to continue using our expertise to meet those growing housing needs.
From origination to compliance, asset management, and everywhere in between, we are focused on every detail to help ensure a smooth, successful transaction.
We seek pleasant common areas
and attractive tenant amenities
class A, B, C, D explained
Multi-family properties are classified as either A, B, C, or D. Class is determined by two things, Location and Condition. It is not set by the appraisers, nor is it formally defined.
Determination of class adheres to the following:
Class A properties...
Newer, better located, with higher rents than the other classes. They offer more tenant amenities than the others. New Class A properties may be located in a Class B areas with lower rents than better located Class A properties.
Class B properties...
Typically 10 to 15 years old, well kept and located in the middle class part of town. They do not offer many tenant amenities.
Class C properties...
Low income to moderate income neighborhoods, or blue collar neighborhoods. They range in age from 30-40 years so they have usually been through at least one rehab. Rents are relatively low for the area.
Class D properties...
Properties in very bad, high crime neighborhoods,no matter what the amenities or age. The only way to turn a Class D property around is to turn the entire neighborhood around. Class D properties are suffering from a neighborhood problem not a property problem. Typically they do not appreciate, and require intense management and heavy security.
- Geographic Focus: The entire US.
- Market Size: 100,000+ population.
- Market exhibiting job and population growth.
- Property in good condition, in good location, in low crime area.
- Deal Size: 100+ units.
- Minimum occupancy: 85%
- Roof: pitched construction.
- Age: Less than 20 years old.
- In unit Central HVAC.
- Individually metered utilities.
- Basic property description.
- Property map.
- Aerial photograph(s).
- Color property photographs.
- Current rent roll.
- Prior year actual operating statements.
- Current YTD operating statements.
- Current tax bill.
- Terms of financing.
- Market information (sales & rental comps).
*Please note that even though we receive a large number of deal submittals, everyone who submits a property to us for reveiw will be contacted. However, depending upon our workload, contact times may vary, although every effort will be made to contact you timely manner.