California License Number: 01893049
Our focus is to acquire apartments and residential condominiums, and mortgage notes collateralized by these assets. This is our preference for a number of reasons:
- Expertise. First, these are the asset classes where we have the greatest level of experience.
- Diversification at the asset level. Individual apartment and condominium properties have a degree of diversification built into individual assets. For example, the loss of one retail tenant in a strip mall is more significant than the loss of one tenant in an apartment complex.
- Debt financing arbitrage. Residential properties offer the opportunity to obtain Fannie Mae and Freddie Mac debt financing, often on terms more attractive than debt offered by banks.
- Well suited to our marketing expertise. In our experience, the number one management problem facing most commercial properties is poor marketing. We maintain our own property management department in order to optimize the traffic of tenant prospects to our properties. Our property management department is particularly well suited to market apartments, condominiums, single family homes, mobile homes, hospitality, self-storage and small office/retail.
Although our first priority is to acquire apartment and condominium assets, we also pursue other opportunities. For example, we evaluate properties and loans collateralized by single family residences, self-storage complexes, mobile home parks, hotels and small office/retail. The common element of these asset types is that the customer/tenant base is largely comprised of members of the general public.