Strategy
We Don't Just Preserve Capital, We Grow It
We acquire low-risk assets with operational and financial value-add opportunities that generate excess risk-adjusted returns at favorable acquisition pricing.
All investments are:
- Targeted to exceed equivalent alternative, fixed income and real asset return benchmarks
- Uncorrelated with public markets
- Structured to limit downside risks and preserve capital
- Underwritten to surprise on the upside (under promise and over deliver)
Multi-Family Alpha®
The Right Strategy For The Right Markets
Why Workforce Housing
80% of demand from 7MM rentership growth through 2025 is renters making less than $75K.
Unique Social Impact Opportunity
Preserving and improving naturally-occurring affordable homes for hard-working Americans.
Demand Significantly Outpaces Supply
Growth in workforce jobs is outpacing housing supply by 8x, leaving a supply deficit of more than 300,000 units per year.
Recession Resistant
Workforce housing has low turnover, high occupancy and is at the convergence of renter by necessity and renter by choice trends. There is employment stability from educational, medical, government, gray/blue-collar, and entry level white collar jobs.
Cumulative Growth of Workforce Jobs vs. Workforce Housing (2017-2026)
Why The Northeast
We generate superior deal flow of undermanaged or situationally attractive assets within undervalued secondary or primary adjacent markets that offer favorable asset cost basis. The region is anchored by the powerhouse local economies of DC, NYC, Philadelphia, and Boston, with the many major employment centers in dire need of naturally affordable, quality housing.
High barrier to entry, stable occupancy, densely populated areas with walkability and/or convenient transportation access.
Permanent affordability gap between renting and owning due to historical and projected supply-demand imbalance.
Diverse and stable employment centers with large workforce populations and significant renter household growth.