Conversion of Use
The value add achieved with these investments is from converting a property to a different use and performing a major renovation. The Pinnacle at Nob Hill and Nob Hill Place, for example, were converted from short term corporate rentals to long term luxury apartments in a submarket that normally does not experience new construction on this scale (over 200 units).
Suburban Portfolio
The suburban portfolio is concentrated in supply constrained markets that result in steady rental growth over time. Where appropriate, properties are renovated and repositioned to achieve rapid rental income growth.
Victorian Portfolio
The goal in this market segment is to purchase low rise vintage buildings in prime locations and renovate to modern day new building standards while maintaining the old world charm. These buildings are in historic neighborhoods so they cannot be replicated and often offer large floor plans that can be modified resulting in a significant value add to the investment.
SOMA Portfolio
This portfolio is comprised of new buildings with condominium maps in growth areas of San Francisco that are dominated by the technology sector. These properties are managed as rentals but have the dual exit option of selling as apartment buildings or individual condominiums depending on the market conditions.
Co-investment Portfolio
This investment category is based on co-investing with partners in select nationwide markets. These markets are enjoying rapid economic growth while multifamily supply constrained thus resulting in good rental income growth. The positive leverage achieved in these markets facilitates superior cash flow from the inception of the investment.
CONVERSION OF USE
SUBURBAN PORTFOLIO
VICTORIAN PORTFOLIO
SOMA PORTFOLIO
CO-INVESTMENT PORTFOLIO