Overview
Investment Overview
Waterman identifies value-add and core plus investments of varying sizes and asset class below replacement cost.
These investment opportunities are in supply constrained infill areas with high barriers to entry. We focus on neighborhoods that are adjacent to life-style destinations, employment centers and experiencing robust population and employment growth.
Our goal is to enhance asset quality and bring it up to the level of higher priced Class A communities in the submarket. After acquisition, we begin repositioning by:
- Implementing significant capital improvements by addressing deferred maintenance, renovating unit finishes, adding technology packages, and updating amenities.
- Reducing expenses through operational efficiencies through superior asset management and utilizing third-party institutional-quality property management.
- Increase rent on unit turns following renovations and by adjusting market rents through weekly competitive set market analysis.
- Creating a value proposition for residents, who receive a higher quality product at a lower price relative to competing properties.
After holding the property for 3 to 5 years, we sell the stabilized multifamily community after increasing NOI through repositioning at a premium. We partner with institutional equity partners, family offices, and high-net-worth individuals direct and through RIAs.