ACQUISITION TARGETS
Locations:
- Primary and secondary markets on east coast
- High visibility and access
- Convenient to nearby amenities
- In-fill / supply-constrained locations
- Markets with employment growth
Characteristics:
- Stabilized properties and re-positioning strategies
- Solid asset appreciation potential / substantial discount to replacement
cost
- Financial complexity, including restructuring and recapitalization
Investment Profile:
- $15 million and above
- 60% to 80% leverage
- Stabilized properties: 6% - 9% initial cash returns and 12% to 15% IRR
- Turn-around properties: 15% to 20% IRR
