Fund Offering

PIA Residential Fund I seeks to achieve attractive  risk-adjusted returns by investing in a diversified  portfolio of value-add institutional multifamily  properties in growth markets of the Southeast US.  Investments will target well located multifamily assets  that are undermanaged and/or can be purchased  below replacement cost. Focus will be on properties  that generate consistent cash-on-cash returns and  provide the opportunity for rent increases and value  appreciation through light to medium renovations  and a capital improvement program.

Typical Investment Profile

Project Cost / Equity

$25-$70 Million / $10 -$30 Million

Project Size

200 to 400 Units

Average Leverage

60% - 70%

Target Investment Terms

Average Cash on Cash

0 % -
0 %

Hold Period

0 Years

Investor IRR

0 % -
0 %

Equity Multiple

0 x -
0 x

Investment Rationale

Asset Stability

Multifamily occupancy rates have outperformed other asset classes over multiple cycles generating consistent cash flows


Continued migration to the Southeast with projected population growth that is expected to exceed the national average


High cost of home ownership causes people to remain renters for longer. PIA’s focus on Class B and C properties caters to a large segment of the population.


Access to attractive debt through agency debt, insurance companies and banks allows for competitive leverage

Demand/ Supply Imbalance

Housing supply is not sufficient to meet continued population growth and new household formation

Hedge Against

Yearly rent adjustments offer good protection during inflationary times

Rental Rate

Strong employment coupled with housing shortages lead to upward pressure on rental rates.

fund projected timeline


PIA’s objectives are to preserve capital, produce consistent cash yields, and generate attractive risk-adjusted returns for our investors. We achieve this by carefully building a diversified portfolio of multifamily investments that fit our Value-Add Strategy.