Thriving Properties seek to identify multifamily properties for acquisitions and re-sale. These criteria and the acquisitions that they produce, re-enforce our contrarian philosophy of buying undervalued properties that have the potential for momentum plays.
Thriving Properties focuses on emerging markets and select tertiary markets where properties can be acquired below replacement costs. Furthermore, we prefer properties that require an upgrade or renovation with a minimum occupancy of 80%.
- Potential High Yield Income Streams
- Various Capitalization rates depending on cash requirements, appreciation potential and property
- Thriving Properties will also consider the assumption of existing mortgages
- Multi-family Garden Style Apartments
- Location: C+ or better
- Property: C or better (primary focus are class C assets)
- Property Size: 50-500 units
- Vintage: Preferably properties constructed in the late 70’s to mid 80’s
- Roofs: Pitched construction
- Minimum Occupancy: 80% however, Thriving Properties will consider lower occupancy on properties that require renovation, if the properties are well located and present value enhancement opportunities
VALUE ADD – Thriving Properties consistently looks to acquire value add opportunities