Overview
U.S. workforce housing will identify relative value and target assets below replacement cost that are less impacted by new supply and are well positioned for a recovering economy. It will target well-located assets that are either under managed, undercapitalized or over leveraged in stable and growing markets. The strategy will execute value-enhancing property improvements through a specialist asset management team with proven capabilities, with the aim of achieving post renovation rents at a significant discount to class A and newer product.
Workforce rental housing
- Primarily class B garden- style
- Targeting 50% to 80% area median income
Value enhancement
- Extensive value-add repositioning expertise
- Over 14,300 unit upgrades
- Average 24.4% return on cost
Tax-exempt bond financing
- Specialty, low-cost leverage
- Enhanced cash flow distribution
Performance
- Specialist team over 28 years
- T11 vehicles since 1993
