As part of our strategy to build a comprehensive and diverse portfolio of multi-family for rent properties we are actively engaged in investment, divestiture and development activities in our core markets.
Location and Size
Properties in metropolitan areas, typically sized at 200 apartments or more, built in 2003 or newer.
Development Parameters
We typically seek suburban locations of no less than 9 acres and up to 20+ acres. Typical infill urban locations as small as .5 acres and up as well as existing vacant buildings of no less than 75,000 square feet.
Equity Commitments
20% – 40% of total capitalization, depending on the opportunity.
Return Parameters
20% IRR and above, based on exit assumptions currently achievable.
We continue to actively manage the assets that still require capital expenditure, repositioning and lease-up; utilizing our middle market real estate strategy. We are focused on what we call the “middle market”, which for Key means residential assets which are located in secondary and tertiary markets throughout the United States. We make investments which are traditionally overlooked by institutional capital, including sovereign wealth funds, private equity fund managers, public REITS and large private investors.
