Our Investment Thesis.

Our Mission.

  • We believe real estate should be a force for economic mobility.

    • That’s why we’re on a mission acquire $1.0 B in real estate AUM the next decade with an indelible positive impact on our world as a Lead Sponsor.

    • As an owner/operator, we strive to revitalize communities serving workforce tenants in our acquisition and development of mixed-income multifamily assets across the Southeast U.S.

Our Investment Focus: Build-to-Rent & Workforce Housing.

In 2024, our primary investment focus is the acquisition of existing, cash-flowing workforce housing and build-to-rent assets as a Lead Sponsor.

  • Our secondary focus is build-to-rent development across well-located land.

Workforce Housing (Multifamily)

Acquisition Criteria

  • Asset Class: Workforce Housing / Multifamily

  • Vintage: Class A- to C+, 1990 or newer age

  • Product Type: Mid-Rise and Garden

  • Investment Strategy: Core-Plus, Light Value-Add, Affordable Preservation, Distressed Asset (Loan & REO Purchases)

  • Unit Count: 100+ units per community

  • Additional criteria:

    • Operational asset with 75%+ current occupancy

    • Going-in capitalization rate with positive leverage

    • Existing clubhouse and community amenity package a plus

Build-to-Rent Development

Development Criteria

  • Asset Class: 10 - 50 Usable Acres of Land

  • Construction Type: Build-to-Rent (BTR) / horizontal multifamily community development

  • Potential Units: 40 - 300 units per community / 4-6 units per acre

  • Pricing: Land priced for all-in 8.0%+ Project Yield on Cost (YOC)

  • Additional land/site criteria:

    • Shovel-ready with available utilities preferred

    • Easy ingress and egress access

    • Within 10-20 min commute to major job centers and market anchors

    • Good nearby public and charter school options

    • Ability to set single plat / tax folio for each unit

Build-to-Rent Acquisitions

Acquisition Criteria

  • Asset Class: Build-to-Rent (BTR) Community / Single-Family Rental (SFR) Subdivision

  • Vintage: Class A- to B+, 2010 or newer age

  • Product Type: Townhome (Attached) or Single-Family Homes (Detached) contiguous communities

  • Investment Strategy: Core-Plus, Lease-Up

  • Unit Count: 30+ units per community

  • Additional criteria:

    • Full occupancy not necessary. Acquisition of assets just prior to Certificate of Occupancy (TCO) or early in Lease-Up period encouraged

    • Acquisition price below Appraised Replacement Cost

    • Contiguous community preferred over Scattered Site portfolios

    • Single-Plat / Tax Folio per unit preferred

    • Existing clubhouse and community amenity package a plus, or adjacent accompanying land available for community amenity development

Our Value-Add Strategy.

Doing well by doing good.

We fundamentally believe community impact and outsized investor returns can go hand-in-hand. They do not need to be mutually exclusive.

Across all verticals, we create value through the following strategies:

  1. Robust community programming with local non-profit partners, including community events, financial literacy, and social services right-sized for each tenant

  2. Smart unit upgrades, including affordable luxury in-unit finishes plus tech-enabled smart locks, thermostats, central HVACs, appliances and in-home security systems

  3. Great community upgrades, including clubhouse amenities, electric vehicle charging, solar installs and adequate lighting

  4. Optimized capital structure, making best use of fixed-rate government senior financing (Fannie Mae, Freddie Mac and HUD), Preferred Equity, Joint Venture Common Equity, Seller Carry, Property Accessed Clean Energy (PACE) financing and Local Government Subsidies, where possible

  5. Mixed-income tenant demographics, right sizing individual and community-based Section 8 / Housing Assistance Program vouchers for low-income tenants, market rate units and corporate/short-term rental set-asides

Our Target Markets.

We use best-in-class analytics to target mixed-income multifamily opportunities meeting our rigorous investment criteria across our Core Geography of the the Southeast U.S., America’s economic growth engine.

Our Core Geography.

Primary Investment States:

  • Florida

  • Georgia

  • North Carolina

  • South Carolina

  • Tennessee

Secondary Investment States:

  • Arkansas

  • Virginia

  • Louisiana

  • Maryland

  • Mississippi

  • Oklahoma

  • Texas

Within our Core Geography, we only invest in a select few “growth corridor” sub-markets with the right recipe for long-term, sustainable growth:

  • We focus on small to large-sized cities within our Core Geography that have experienced population growth of 7 - 15%+ over the last 20 years.

  • We focus on growth corridors that have experienced strong 35%+ median household income growth over the last 20 years.

  • We focus on growth corridors with strong median single-family home value growth of 55%+ growth over the last 20 years.

  • We only invest in neighborhoods that that have had significant drops in reported crime rates over the last 15 years, as identified by public law enforcement and municipal data.

  • We invest in growth corridors with recent annualized job growth of 3.0%+ over the last 12 months.

Let’s connect and explore your investment goals.