Acquisition Criteria

Self-Storage:

• Property Size: 30,000 + sq ft. or a minimum of $20,000 per mo. in gross income (no development). The larger the better. If a portfolio deal – one location must meet these parameters.

• Yield: Typically 5%+ cap based upon in-place NOI but will go lower if there is a compelling story to create value in the near term.

• Value-add: i.e. ability to raise rents (both street rates and on existing), increase occupancy, and solve delinquency issues.

• Ownership Profile: Preferably mom-and-pop owned.

• Geography: Nationwide.

• Buyer Strength: We can pay cash, move quickly, have the creativity and resourcefulness to work on “special situations”, and most importantly we have a reputation for doing what we say.

• Broker Compensation: We are principals. We will pay additional comp (1-2%) for off-market deals.

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Mobile Home Communities: 

• Property Size: 50 sites or a minimum of $20,000 per mo. in gross income (no development).  The larger the better. If a portfolio deal – one location must meet these parameters.

• Yield: Typically 5%+ cap based upon in-place NOI but will go lower if there is a compelling story to create value in the near term.

• Value-add: i.e. ability to raise rents (both street rates and on existing), increase occupancy, and solve delinquency issues.

• Ownership Profile: Preferably mom-and-pop owned.

• Geography: Nationwide.

• Buyer Strength: We can pay cash, move quickly, have the creativity and resourcefulness to work on “special situations”, and most importantly we have a reputation for doing what we say.

• Broker Compensation: We are principals.  We will pay additional comp (1-2%) for off-market deals.