Investment Criteria

Oak Residential Partners, LLC, targets stabilized, income-producing properties that provide the ability to create value during the hold period through continued investment in the asset, improved property operations and oversight, strategic capital deployment and strategic leasing.

Property Characteristics

Garden-style, mid-rise and high-rise rental apartment communities

Prefer 150 units minimum and post-1990 construction, but will consider older and smaller communities based upon geographic location and specific opportunity

Comprehensive amenity package, strong unit mix and attractive grounds

Markets

Primary and secondary markets across the United States; current strong focus in markets from the Rocky Mountains to the Atlantic Ocean and South and Southeast United States

Strong locations within the local submarkets with high barriers to entry, good visibility, and strong local employment and access to transportation

Investment Parameters

Minimum investment: $5,000,000; no maximum size

Preferred size: $10 to $75 million

Typically use long-term, fixed rate debt at 65%-80% LTV

Typical hold period of 5-10 years

Yield Requirements

Positive cash flow in-place, with year one cash yields in the mid-single digits at a minimum

Project level IRR of 14%+

Acquisition and Investment Strategy

Fee or leasehold positions

Acquisition of performing, non-performing or mezzanine notes

Origination of mezzanine financing

All-cash or subject to attractive assumable in-place financing

Properties with value-add component will be given strong consideration

Tax credit or bond financed properties

Partnership buyout or restructurings

For more information or to discuss an acquisition opportunity, please contact:

Eytan Peer
Vice President – Acquisitions
(847) 400-5700
epeer@oakrp.com