Village Green

APARTMENT ACQUISITION CRITERIA

Value Added Acquisitions
Assets in need of moderate to extensive capital expenditures: 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
  • Desirable urban or suburban-urban 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 vicinityWill 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

CRAIG MCGOWAN 
Assistant Vice President, Acquisitions

E-mail: cmcgowan@villagegreen.com
Phone:  312.335.2691
Fax:  312.335.2675 

Address:
Village Green
188 W. Randolph
Suite 202
Chicago, IL 60601

    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