As full-time real estate professionals with experience overseeing over $1B in multifamily & residential assets equating to over 4,000 units, we have identified our criteria for valuable investments. Our research & thorough market analysis awards both Ward & Company Real Estate and our partners long term risk-adjusted returns that hedge against inflation, offer tax shelters, create appreciation and generational wealth opportunities.
Property Type: Multifamily Apartments and/or Multi-Unit Single-Family Communities.
Property Location: GA (Greater Atlanta) and TN (Chattanooga, Murfreesboro, Springfield, and Clarksville).
Property Size: Less than 150 Units.
Property Age: Value-Add 1990 or Newer, (Exceptions for Distressed Properties that will be new development).
Typical Equity Size: Up to $5 million.
Typical Financing: Depending on the type of acquisition, we will typically seek to acquire properties financed with Agency debt (Fannie Mae/Freddie Mac/HUD), however for deals with heavy CapEx requirements/new development, we will use bridge financing or construction loans.
For stabilized assets - an Internal Rate of Return (IRR) of 12-15%+ compounded over 3-5 years, Cash on Cash return goal of 6%+, and Equity Multiple of 1.8x+.
For Value-add/New Construction assets - an Internal Rate of Return (IRR) of 18-20%+ compounded over 2-3 years and Equity Multiple of 2x+.
Primary Focus: Distressed or Value-Add properties that we identify as needing enhanced property operations performance (asset and property management) or physical upgrades via CapEx and renovations. This may include affordable housing and/or market rate properties.