Village Green

APARTMENT ACQUISITION CRITERIA

Value Added Acquisitions
Assets in need of moderate to extensive capital expenditures: this includes, renovation/repositioning, redevelopment/conversion of historic buildings to rental housing and 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.

General Guidelines:

  • 150 units minimum in urban or suburban-urban location.
  • Class A, B or C assets.
  • Properties constructed from 1950 to present day.
  • Desirable in-fill location with substantial barriers to entry.
  • High visibility/drive-by traffic and close proximity to public transportation,  easy access to expressways, close to shopping centers.
  • 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. hotels, office buildings, to multi-family residential.
  • Will consider assembly of non-contiguous properties located in same general vicinity.
  • Will consider unit count under 150 units if available, contiguous development parcel exists to increase density.

GEOGRAPHICAL LOCATION

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

DIANE BATAYEH
Chief Operating Officer

E-mail: dbatayeh@villagegreen.com
Phone:  248.932.2706
Fax:  248.538.2706

Address:
Village Green
30833 Northwestern Highway
Suite 300
Farmington Hills, MI 48334

DIANE KAISNER
Acquisitions & Dispositions Associate

E-mail:  dkaisner@villagegreen.com
Phone:  248.932.2757
Fax:  248.538.2757

Address:
Village Green
30833 Northwestern Highway
Suite 300
Farmington Hills, MI  48334