Value-add, done with discipline.
We buy well-located buildings with a problem we can solve: vacancy, rents below market, deferred maintenance or a lease structure that needs fixing. We pay a sensible basis and stay closely involved from closing to sale.
Buildings people rely on.
We buy five property types and ask the same question of each: does the building matter to the people who use it every day?
Industrial and Logistics
Infill warehouses, small-bay buildings and outdoor storage close to the households and businesses they serve.
Cold Storage
Temperature-controlled facilities that keep food and medicine moving, in buildings that are hard to replace.
Necessity Retail
Grocery, service and daily-needs centers anchored by the stores people visit every week.
Mixed-Use
Well-located properties that combine uses and can be repositioned as their neighborhoods change.
Multifamily
Workforce and middle-market housing in markets where people and jobs are arriving.
Disciplined before the purchase, present after it.
Basis first
We underwrite the downside before the upside and look for a purchase basis below what it would cost to build.
Asset management in-house
Asset management stays with the principal who made the investment decision: leasing, capital projects and budgets are directed by the principal, working with local property managers and leasing teams.
Property-level debt
Each property is held in its own entity with its own loan, sized to what the cash flow of the building can carry.
Our own capital
We put our own money into our investments alongside our partners.
What fits.
These are the lines we work within. If a property falls outside them, we try to say so early.
A direct line to the decision.
Properties sent to us are reviewed by the principal who underwrites them. Our practice is to answer early, to stand behind the terms we propose unless diligence turns up something new, and to keep off-market situations confidential.
Submit a propertyAn occasional letter on the markets we buy in.
Written by the principal a few times a year: what we are seeing in Sunbelt industrial, cold storage and necessity retail, what we are paying for it, and what we are passing on. No offerings and no deal flow; those are discussed only with people we know.
Start with an introduction.
Our investor relationships begin with a conversation, not a transaction. If our approach fits how you invest, or you have a property that fits what we buy, we would like to hear from you.