General Investment Criteria
Apartments
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Type: |
All types considered. Garden-style, townhouse, high-rise, low-rise |
Size: |
- Minimum 110 units |
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- Number of units per property should be adequate to support institutional quality and a market-level amenity package; provide for cost-effective on-site support personnel |
Age: |
New to 20 years old, will consider rehabilitation and new development |
Percentage Leased: |
80% minimum, except to be builts |
Location: |
- Located on or near major thoroughfares with satisfactory retail services |
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- Stable or increasing population growth |
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- Proximity to and desirability of schools utilized by residents |
Industrial
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Type: |
All types considered. Warehouse/distribution, R&D, flex space, office showroom. Will consider industrial development |
Size: |
Bulk distribution buildings averaging a minimum of 75,000 square feet. Service industrial buildings averaging 40,000 square feet |
Age: |
Core properties should be less than 10 years old, will consider renovation, repositioning and new development |
Percentage Leased: |
80% minimum, except to be builts |
Location: |
- Industrial/distribution hubs |
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- Established business or industrial parks |
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- Convenient access to major transportation arteries |
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- Locations with multi-model access, i.e., interstate highway, rail and water, preferred |
Office
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Type: |
All types considered. High-rise, mid-rise, low-rise. CBD preferred |
Size: |
Minimum 70,000 square feet preferred |
Age: |
Post-1985 construction preferred, will consider renovation, repositioning and retenanting opportunities |
Percentage Leased: |
80% minimum |
Location: |
- Central Business District preferred |
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- Established office locations |
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- Convenient access to major thoroughfares |
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- Proximity to target-market employee base |
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- Limited potential for near-term new construction |
Retail
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Type: |
All types considered. Super regional, regional, power center, community or neighborhood |
Size: |
Minimum 80,000 square feet preferred |
Age: |
Post-1985 construction preferred, will consider renovation, repositioning and new development |
Percentage Leased: |
85% minimum, except repositioning assets |
Location: |
- Strong retail fundamentals |
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- Good surface access and visibility |
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- Trade area with satisfactory household income and stable neighborhood |
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- Limited availability of competitive sites in immediate submarket |
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- High traffic counts |
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- Prefer nationally recognized tenants |