Value Added Opportunities
Assets in need of moderate to extensive capital expenditures; renovation/repositioning, increased market share, improvement in management/marketing.
Assets in need of moderate to extensive capital expenditures; renovation/repositioning, increased market share, improvement in management/marketing.
Stabilized Core-Plus Opportunities
Assets requiring limited capital, generally stabilized with some upside potential, although not to the same extent as the "value added" category.
Assets requiring limited capital, generally stabilized with some upside potential, although not to the same extent as the "value added" category.
Guidelines
- 200 units minimum in suburban location; will consider under 200 units in urban locations.
- Class B or C.
- Properties constructed prior to 1990; for urban locations preferably buildings constructed pre-1960.
- Desirable in-fill location with substantial barrier to entry.
- High visibility/drive-by traffic and/or easy access to expressways, close to shopping centers and professional, healthcare or service industry employment base.
- Garden style, mid-rise or high-rise properties.
- Will consider conversion of buildings not currently operating as residential; e.g. office buildings, to multi-family residential.
- Will consider assembly of non-contiguous properties located in same general vicinity.
Geographical Location
Primary cities throughout the Midwest including but not limited to the following:
Chicago
Cincinnati
Cleveland
Columbus
Des Moines
Detroit
Indianapolis
Cincinnati
Cleveland
Columbus
Des Moines
Detroit
Indianapolis
Kansas City
Milwaukee
Minneapolis
Pittsburgh
St. Louis
Toronto
Milwaukee
Minneapolis
Pittsburgh
St. Louis
Toronto
Financial Terms
- All cash basis (no financing contingencies).
- May assume debt, if favorable.
- Flexible options to accommodate Seller requirements (e.g. ability to provide option to defer tax recapture).
Due Diligence and Closing Terms
- Flexible pursuant to Seller requirements.
- General terms.
- 30-45 days due diligence.
- 30 days to close.
Contacts
