Property Type: Garden Style Apartments (preferred)
Asset Class: B+ to C+ (Primary focus is B class assets)
Location Quality: A+ to C+
Property Size: 100+ units; single asset or portfolios
Pricing: $1.0M to $20M+
Property Vintage: 1978+
Morning Star Investments has yield requirements that are commensurate with the risks and opportunities presented by each property. Morning Star focuses on sub-markets of growth and stability with “barriers to entry” and/or properties available below replacement cost and market value. Additionally, we prefer stabilized properties (min 85% occupancy) requiring a renovation or upgrade where the property’s grade or class is below that of the other competitive properties in its market.
Morning Star Investments sources stabilized and value-add apartment properties of 100+ units in size and repositions them by:
1. adding capital improvements; and
2. reducing expenses by creating operational efficiencies through the implementation of institutionalized property management.
Morning Star Investments will then sell the community as a stabilized asset within five to seven years.Type your paragraph here.