Why Apartments and Industrial Parks?

Structural Advantages

  • Shorter lease durations allow rents to reset more quickly in inflationary environments

  • Diversified tenant bases reduce income concentration risk

  • Lower capital expenditure requirements compared to many other CRE sectors

Market Dynamics

  • Limited new supply in many secondary and tertiary markets due to zoning and construction constraints

  • Fragmented ownership creates opportunities for operational improvement and consolidation

  • Less institutional competition relative to primary markets

Clear Value-Add Opportunities

  • Fragmented ownership creates inefficiencies uncommon in more institutionalized asset classes

  • Repeatable unit and suite configurations enable scalable improvements

  • Shorter lease structures accelerate value realization

Portfolio Benefits

  • Strong diversification benefits relative to office and retail

  • Historically lower volatility across market cycles

  • Multiple exit pathways across private, institutional, and REIT capital

Regional Opportunity

  • Approximately $1.7 trillion of investable multifamily and multitenant industrial assets across Western secondary and tertiary markets

  • Direct exposure to workforce housing and logistics-driven employment growth