Rental home community near Houston

We recently acquired Amber Pines at Fosters Ridge, a 124-unit single family rental home community in Conroe, TX for a purchase price of $31.4 million. A component of the greater Houston metro area, Conroe is located just north of the Woodlands master-planned community and about 40 miles from downtown Houston.

The brand-new community is already 97% occupied, creating an attractive potential for cash flow in the short term while being positioned for outsized growth over the long term.

New acquisition: Apartment pre-development in LA

We’ve invested roughly $3 million in the acquisition of a 12,500 sq ft property in the Mid-City neighborhood of Los Angeles, as the future site of a 54-unit apartment building.

This is our second investment to date in Mid-City, a centrally-located neighborhood west of downtown LA.

By opportunistically financing new housing creation in supply-constrained markets like LA, we can continue to target attractive yields.

Stabilized apartments near Jacksonville, FL

We invested roughly $15 million in the acquisition of Parkland at Orange Park, a stabilized 358-unit apartment community in Orange Park, Florida, a suburb of Jacksonville.

At a strategic level, this investment fits within our affordably-priced Sunbelt apartment / rental housing thesis. From millennials to retirees, a broad group of Americans have been taking part in a migration from northern to southern states over the past decade, driving continued demand for well-priced, well-located real estate, and supporting steady returns for investors.

New acquisition: DC-area industrial development project

We recently acquired a 335,412 sq ft industrial property in Springfield, Virginia, for approximately $15.5 million, with plans to develop a new class-A distribution center on the site. Located less than 30 minutes from downtown Washington, DC, at the intersection of two major highways, we believe this is an attractive location for online retail businesses seeking to efficiently serve customers with short delivery times across the national capital region.

Industrial property near Phoenix, AZ

We’ve acquired a 56,240 sq ft industrial property near Phoenix, Arizona, for roughly $12 million. The property is located about 20 minutes from downtown Phoenix, within ten minutes of I-10, and less than fifteen minutes away from the Phoenix Sky Harbor International Airport.

As demand for more and faster delivery continues to grow, we believe that “last-mile” distribution facilities located close to major population centers will become increasingly important for retailers.

Single-family rental development near Atlanta, GA

We’ve invested in the acquisition and development of a new community of 67 townhomes in Sandy Springs, Georgia, just thirty minutes north of downtown Atlanta.

Our initial investment of roughly $9.6 million includes an all-cash purchase of the first 13 townhomes completed in the community and 47 construction-ready lots. Our intent is to purchase the other seven homes directly from the homebuilder when they wrap up construction.

New acquisition: Commercial renovation in South LA

As a part of our broader strategy to invest in emerging areas, we’ve acquired a commercial building in the Jefferson Park area of South Los Angeles. We paid roughly $7 million for the property, and anticipate spending an additional $2.8 million on development and renovation costs.

With this investment, we aim to earn consistent cash flow from rent payments while capturing what we believe will be strong price growth in South LA over the next several years.

Rental home community on the South Carolina coast

We’ve invested $10.2 million to acquire 48 detached single-family rental homes within The Palmer at Carolina Forest community of Myrtle Beach, South Carolina, along the Atlantic coast, roughly 100 miles northeast of Charleston and 80 miles southwest of Wilmington, North Carolina.

Our intent with this and other investments in single-family rental home communities is to build a scaled portfolio that generates consistent rental income, while at the same time being positioned to capture what we believe will be outsized price appreciation thanks to a confluence of demographic factors driving demand across the Sunbelt.

Judd Street, London

We’ve invested $22 million in the joint acquisition of 105 Judd Street with Montrose Land. A five storey 57,000 sq ft building which will be redeveloped to create an innovative office development primarily aimed at companies in the life sciences sector and knowledge economy.

Located within 10 minutes walking distance of King’s Cross, Euston, Euston Square and Russell Square London Underground Stations providing access to Northern Piccadilly, Metropolitan, Circle and Hammersmith & City lines. The building also benefits from excellent connectivity to three mainline stations providing direct links to Cambridge and other European cities.