Key Strategic Criteria:
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Class A/B, 1960 – 2009 construction
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50 – 500 units
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Good marketing window
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Mix of floor plans
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Ample amenities (parking, pools, gyms)
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Easy access to freeways, local job market and desirable retail
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Rents can be increased with new capital and better management
The Strategy
We have successfully operated multifamily assets in major markets throughout the Western U.S. There are inherent risks in the task of operating apartment assets, but the firm’s strict philosophy is to minimize those risks by targeting markets it knows and understands. In-fill, supply-constrained markets that offer long-term job growth potential are among the most important dynamics.
Target Markets:
SOUTHERN CALIFORNIA
Rental demand is increasing, rents are likewise moving rapidly in an upward trajectory. Quality, in-fill locations throughout the Los Angeles, Orange County and San Diego MSAs are highly sought after by both investor and the coveted millennial renter- a key focal point for our current investment decisions.
NORTHERN CALIFORNIA
Excellent fundamentals in quality submarkets are driven by job growth in the technology and biotechnology sectors, coupled with limited new supply due to construction costs and the lack of significant land for development.
PACIFIC NORTHWEST
Excellent jobs outlook is driven by advances in the technology sector and the strength of area mainstays such as Nike (Portland) and Boeing. New supply in Seattle is limited to the CBD, while the secondary suburban markets remain tight and enjoy the local demand generators of Boeing in Everett and Renton, and Microsoft in the Bellevue/Kirkland submarket.
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