Equity Program Overview
CRE-Endeavors invests as Co-GP and Joint Venture/LP equity in core-plus and value-add workforce housing, market-rate, and mixed-income multifamily properties in Georgia, Tennessee, and South Carolina.
If you're a Sponsor(GP) and have a multifamily project that meets the criteria below, please submit your deal to us!
Partnership Criteria
1). Sponsors/Managers (GPs) must be local to the market and have experience – Must have significant knowledge and experience operating in the market of the property, and a track record of overseeing day-to-day property management, asset management, and executing real estate business plans.
**As part of our mission to expand capital sources and commercial real estate investments to diverse groups of investors, we will consider emerging Sponsors/GPs as long as they are supported by an experienced acquisition team and an experienced property management company.
2). Sponsors/GP must have “skin in the game” – We require the Sponsor/GP to make a significant cash investment into each deal (generally 5-50% of the total equity check).
3). Sponsor/GP must have an experienced local Property Management Team – Principals must be active in understanding the day-to-day operations and property management needs.
An experienced property management company must be in place and approved by CRE-Endeavors. The management company should be familiar with the asset, the market, and capEx strategy.
**The property management company CAN be owned (in-house) by the Sponsor (GP), however, the team needs to provide proof of experience in management for that particular asset.
4). Communication & Transparency - Must have professional reporting, technology, and systems in place to ensure consistent communication and transparency throughout the investment cycle.
Investment Criteria
Project Type: Core-Plus and Value-add Multifamily properties, 10-35 years old (including market rate, workforce housing, and mixed-income acquisitions).
Geography: Georgia, Tennessee, and South Carolina. (we also like select markets of Alabama).
Equity Investment Size: $2,000,000 to $7,000,000 per project.
Targeted Return Requirements (NET of Fees):
Minimum 8%+ preferred return,
13-15%+ IRR,
1.75x-2.2x+ equity multiple.
We like deals that offer in-place yield, generally 6-10%+ average Cash-on-Cash returns.
Property Hold Period: 3-5 years.
Project Total Capitalization: $6 million to $25 million
Project Equity Check Size: Up to $10 million
Leverage: In general, we invest in multifamily projects that are no more than 75% levered.
Closing: 21 days from Execution of the Term Sheet
Additional Value To Our Sponsor Partners
When you partner with CRE-Endeavors you gain a reliable equity partner and commercial real estate professionals with a number of additional resources in capital markets, operations and dispositions.
Quantitative and Qualitative Research
As commercial real estate professionals in brokerage and multifamily investment management, we have access to technology and resource to help with the due-diligence process and risk mitigation efforts.
Financing Solutions
We can help secure the best financing options for your projects with our preferred lending partners that provide agency financing (Fannie/Freddie/HUD), bridge loans, construction loan, alternative financing options to execute on a number of investment strategies.