February 25, 2021

LEM Capital Announces 2020 Year in Review and 2021 Value-Add Multifamily Acquisitions Goals

Philadelphia, PA – LEM Capital, L.P. (“LEM”) today announced the achievement of several important milestones in 2020 and its acquisition objectives for 2021.

2020 Accomplishments

    • • Over $1 billion in total transaction volume
    • • 7 property acquisitions totaling 1,770 units
    • • 14 property sales totaling 3,833 units
    • • Implemented ESG Policy and created Diversity, Equity & Inclusion Committee
    • • 2 new hires, (1) asset management, (1) acquisitions
    • • 5 team members promoted


2021 Goals

  • • Acquire $500 million of value-add multifamily properties
  • • Continue focus on primary suburban markets on the East and West coasts, major sunbelt markets, including the four major cities in Texas, and Nashville, Chicago, Minneapolis, Phoenix, and Denver
  • • Expand acquisitions team with 1-2 new hires
  • • 2-4 new third-party Operating Partners

 

“In 2020, we remained focused on disciplined value creation and downside protection through the growth of our value-add multifamily portfolio and the growth of our team. In 2021, we aspire to maintain this focus by expanding our footprint in our target markets and further developing our Operating Partners relationships,” said Herb Miller, Co-Founder and Managing Partner of LEM.

LEM’s value-add multifamily investment program targets equity investments ranging between $5 million and $25 million per property, with total capitalizations ranging from $35 million to $90 million. “LEM’s value-add business plans typically contemplate upgrades to apartment interiors, common areas and a particular focus on the amenities with the goal of providing a ‘like-new’ experience at a moderate price point for the average working-class American renter.  We work closely with our Operating Partners to help them source and win deals and then work side by side to develop and implement business plans that seek to create value over our typical 4-5-year hold periods,” said Allison Bradshaw, a Partner of LEM.

“Our firm has always focused on downside protection and investing in an asset class that have the ability to outperform in both up and down economic cycles. In 2011, we elected to invest in Class B suburban multifamily properties due to the sector’s historically low volatility, which was once again proven over the last ten months during the economic downturn caused by the COVID-19 pandemic,” said Jay Eisner, Co-Founder and Managing Partner of LEM, “2020’s results bring our total volume of transactions since 2011 to a total of 98 properties acquired and 63 sold since 2011.” Since the firm was founded in 2002, LEM has raised over $1.3 billion of committed capital.1

About LEM Capital

LEM Capital is a real estate private equity firm with an 18-year track record focused on protecting investors’ downside and building portfolios to help deliver dependable current cash flow and equity upside through good and bad cycles.

The team consists of multifamily experts that seek to acquire well-located apartment properties where LEM can add value and seek to increase rents through physical upgrades and implementation of better management practices. The firm’s approach combines the local, long-term market knowledge and day-to-day management of its network of nationwide Operating Partners with LEM’s disciplined investment selection, rigorous due diligence process and intensive asset management oversight, all led by the firm’s partners. LEM’s goal is to deliver attractive risk-adjusted returns to its investors while safeguarding capital.

Since 2002, LEM has raised over $1.3 billion in investor commitments and has acquired nearly 23,000 value-add apartment units since 2011.2

Notes: 1 – As of June 30, 2020. 2 – As of November 25, 2020.