Selected Deals

Diversified portfolio of value-add real estate projects in the U.S.

Office

  • Deal: 43-store office skyscraper repositioning project in Chicago
  • Investment thesis: special situation (15-20% discount to fair market value) and significant NOI growth upside (50%+) via value-add renovation program

Multifamily

  • Deal: 2,222-unit market rent multifamily portfolio in 4 states in the U.S.
  • Investment thesis: attractive acquisition basis (30% discount to replacement cost), strong in-place cash flow, de-risking via fixed-rate financing with 3-8-year I/O periods for each asset, heavy value-add program within multiple assets

Affordable Housing

  • Deal: 135-unit affordable housing project in Manhattan, New York
  • Investment thesis: mark-to-market rent increase (Section 8), real estate tax abatement program, and opportunity for operational turnaround resulting in +76% NOI growth in the first year

Workplace-as-a-Service / Flexible Space

  • Deal: 12k sf flexible office building in Jackson Square, San Francisco
  • Investment thesis: vacant building (30% discount to fair market value) in a prime location with an immediate long-term lease to flexible office operator translating into +30-40% above-the-market yields
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