Our Investment Criteria
Location
Major metropolitan areas west of the Rocky Mountains, as well as select southern markets including Texas and Florida. We will consider secondary markets (in the same region) with a minimum MSA population of 250,000.
Asset Type, Size and Age
Multifamily property types of 100+ units, with a preference for affordable housing. We will consider smaller properties if they are part of a portfolio purchase. For market rate, student, and senior housing properties, we prefer construction from 2000 or newer, and purchase affordable properties of all ages. We purchase land for new construction in northern California markets. Additionally, we will acquire older properties (60’s to 70’s vintage) that can be converted to LIHTC affordable if held by an owner for 10 years or with HUD Section 8 or FHA financing.
Condition
We acquire land, new construction, properties with environmental issues, properties that are partially built, or that require substantial rehabilitation.
Financial Considerations
Our CAP Fund series are fully discretionary investment funds. We are the sole decision makers on the investments, and are looking for single asset purchases of $25–$100MM, and up to $500MM for portfolio purchases, with at least $10MM of equity invested per deal. We prefer to acquire with new agency debt, but will pay cash for a note, or assume existing debt if necessary.
Our Investment Objectives
Reliant has yield requirements that are commensurate with the risks and rewards presented by each individual acquisition. We focus on geographic areas with population growth and job formation, particularly in regions with high barriers to entry. Additionally, we seek acquisitions where the property’s grade or class is below that of the other competitive properties in its market, requiring substantial renovation to complete.
For further information, please contact:
Market Rate, Student and Senior
Sanj A. Kakar
Chief Acquisitions Officer
Office: (415) 501-9601
Email: skakar@reliantgroup.com