CRITERIA

The firm seeks to capitalize on stabilized, yet underperforming, "mom and pop" apartments through renovations and the improvement of operational inefficiencies.  

INVESTMENT STRATEGY:

The firm’s investment strategy is to identify and capitalize on underperforming multifamily properties by repositioning the asset to maximum value. White Real Estate acquires mom & pop apartments in emerging markets, with a particular focus on the submarkets surrounding the Charlotte MSA.

 

White Real Estate executes a niche acquisition strategy that eliminates much of the competition. One way we accomplish this goal is by seeking B/C class properties with a minimum of 20 units up to a sales price of $5m. By focusing our efforts within this niche, the deals we seek tend to be too large for most individual investors, yet overlooked by institutional investors.

 

Additionally, we capitalize on our ability to target off-market properties through the cultivation of key relationships and proven marketing systems. By utilizing our database of owners and various methods of strategic contact and follow-up, we are well positioned to uncover highly profitable opportunities in a non-competitive environment.

 

ACQUISITION CRITERIA:

 

Asset Class: B to C

Location Quality: A,B or C

Minimum Property Size: 20 Units 

Purchase Price: up to $5mm

Cap Rate: .5% over Market Comps

DSCR Ratio: 1.25

Preferred Markets: Charlotte MSA ; Greenville, SC

  • Local Job Growth: >2% Last 2 Years

    • Multiple Employers (Diverse)

  • Local Population Growth: Consistent Growth over Last 2 Years

Quality: Actively seeking stabilized to light value play (motivated sellers,

deferred maintenance, mismanaged, low rents, high vacancy, high expenses)