We are active investors in US multifamily value-add transactions and have acquired over 27,000 Class B apartments with a total capitalization exceeding $4.32 billion since 2011 (as of 6/24/24). Our goal is to build a geographically diverse portfolio of multifamily communities where value-add renovations and improved property management create a “like new” experience at a moderate price point.

Investment Criteria

200-400 Apartment Units
1980's to Early 2010's Vintage
Mid-Sized Assets $30-$90 Million
Primary and Secondary Markets
Value Creation Opportunity
In-Place Cash Flow

Submarket and Property Criteria

Good School System
Infill Location
Strong Highway Access
Diverse Employment Drivers
Quality Tenant Base
"B" or Better Location within Market
Why Class B Multifamily?
 
 
 

Current Portfolio

  •  LEM Active Investments
  •  LEM Monitoring Market
  •  Value-Add Case Study
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Valley Lo Towers

Opportunity

A confined and outdated kitchen gave the apartment an old, tired feel that was not attractive to today’s residents.
Solution

Created a bright, more open feel by removing a wall and updating the kitchen with contemporary appliances and finishes that a potential resident would see in newer apartment buildings.

Updated kitchen: Valley Lo Towers (Chicago, IL), 1985, 112 units
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Water’s Edge

Opportunity

An on-site racquetball court was outdated and underutilized while the existing fitness facility was undersized and viewed negatively by prospective residents.
Solution

Transformed the racquetball court into a two-room, state-of-the-art fitness facility with top-of-the-line equipment. The lower portion of the racquetball court was converted to storage for residents, and the former fitness facility was repurposed into a club room adjacent to the pool deck, which is well used by residents.

Updated racquetball court/gym: Retreat at Water’s Edge (Denver, CO), 1985, 252 units
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Arbors

Opportunity

Inadequate and lackluster furniture with limited shade at a heavily utilized pool area felt uninviting and underwhelming to prospective residents.
Solution

Updated the pool area with a contemporary color scheme, screened lanai, private cabanas, and summer kitchen with plush seating, hammocks and green areas.

Updated pool: Arbors at Carrollwood (Orlando, FL), 1999, 312 units
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