Value-Add & Development Equity

Value-Add & Development Equity Strategies

Investing in properties with an opportunity to improve cash flows and create value by addressing physical, occupancy, management or other situational issues and/or providing capital to facilitate value-enhancing improvement. Identifying new development opportunities utilizing our development experience and relationships.

Investment Formats

  • Closed-End
  • Separately Managed Accounts

Our Prior Value-Add & Development Investment Products

  • Closed-End Value Fund Series, Funds I-IV
  • Value-Add Separately Managed Accounts
  • Senior Housing Development Separately Managed Accounts
  • Multifamily Development Separately Managed Accounts

What We Look For

Investments in this strategy largely depend on the investment objectives of our investors and market and economic conditions at the time of portfolio construction. Some examples include:

Renovation Strategies

  • Light Renovation: modest capital program to address deferred maintenance, improve prospective resident marketing window and/or minimal interior renovation
  • Heavy Renovation: significant capital program to reposition the property or adapt to higher and best use

Distressed Opportunities

  • Mismanaged assets
  • Recapitalization of failing partnerships
  • Adaptive reuse of obsolete properties
  • Stalled lease-ups
  • Oversupplied markets and sectors

Development Opportunities

  • Markets and submarkets with limited availability of land, functional obsolescence of existing buildings and/or favorable supply/demand drivers
  • A differentiated product that caters to the needs and desires of the target resident profile