Client Investment Criteria
Client Tango
Asset Class: Student Housing
Primary Capital Source: Family Office
Risk: Core, Core-Plus, Value-Add
Total Capitalization: $15MM to $60MM
Vintage: 2000s+
Size: 150+ beds
Location: Power 4 with 25K+ enrollment
Hold: 5 to 10 years
Cash on Cash: Not applicable
IRR: 15%+ (core-plus); 17%+ (value-add)
Client Foxtrot
Asset Class: Conventional Market-Rate
Primary Capital Source: HNWIs, Family Offices, Private Equity, Institutional Funds
Risk: Value-Add, Distressed
Vintage: 1960 to 2010
Size: 100+ units (1990s+); 150+ units (pre 1990s)
Location: Austin, Charlotte, Denver, Cincinnati, Columbus, Kansas City, Wichita, San Antonio
Hold: 3 to 5 years
Cash on Cash: Not applicable
Yield on Cost: 7.0%+ (2000s+); 7.5%+ (pre 2000s)
IRR: 18%+
Client Sierra
Available
Client Zulu
Available
Client Bravo
Asset Class: Conventional Market-Rate & Affordable
Primary Capital Source: HNWIs, JVs & Balance Sheet
Risk: Core-Plus, Value-Add
Vintage: 1960 to 2019
Size: 100+ units
Location: New Hampshire, Massachusetts, Upstate NY, Rhode Island, Connecticut, Maine, Vermont
Hold: 5 to 10 years
Year 1 Cash on Cash: 5.0%+
Average Cash on Cash: 8.0%+
IRR: 14% to 20%
Client Echo
Available