WHY WE DO IT

ASSET CLASS

The multifamily sector has a significant advantage over other real estate sectors. Having shelter is a basic human need that will never go away.

SUPPLY/DEMAND

Demand for multifamily units far outpaces the supply coming on line.

RISK/REWARD

We buy Class B & C properties because they offer the best risk/reward ratio. Regardless of the stage of the economic cycle, the demand for workforce housing is more resilient and will remain robust.

MILLENNIALS

They are buying homes almost ten years later in life than the previous generation, pushing them to rent apartments for longer.

CONSTRUCTION

Construction of workforce housing has been limited due to rising materials prices and a labor shortage. The heightened costs have caused new multifamily construction to be centered around Class A product that requires higher rents to justify new construction.

BABY BOOMERS

The largest age cohort in the United States are the Baby Boomers- they are increasingly renters by choice, choosing to downsize and lower overhead expenses.

VALUE

Class B & C product continues to be an attractive value alternative for renters who seek the best value for their money.

WAGES

As of Q1 2019, home prices were rising faster than wages in most markets.

HOW WE DO IT
WHAT WE INVEST IN
embedded

Properties with embedded upside from existing rents that are 10-30% below market

stabilized

Stabilized product with a value-add component that yields compelling returns without the development risk

occupancies

Assets whose occupancies and rental rates show a clear and rising trend

discount

Properties that can be bought at a substantial discount to replacement cost

fixed rate

Properties where we can obtain attractive fixed-rate financing

highgrwoth

Located in high-growth secondary markets in the Southeast and Texas, where population and job growth prevail

repairs

Where we can renovate and improve unit interiors and add attractive tenant amenities to drive property performance and increase value

U.S population is expected to grow at a healthy pace over the next 25 years thus further supporting the case for multifamily investing.  Our competitive advantage resides in our ability to identify under-managed assets and maximize their potential through quick turnarounds and professional property management.

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WHERE WE DO IT

PIA Residential seeks properties in strong locations across the high-growth markets of the Southeast and Texas.  The above-average job and population growth trends in these locations allow our properties to be better insulated against market headwinds.  Solid economic fundamentals, a diversified concentration of industries, and strong demand for multifamily in these burgeoning markets will allow for continued outperformance.

  • Atlanta

  • Austin

  • Charlotte

  • Dallas

  • Orlando

  • Raleigh/Durham

  • South Florida

  • Tampa

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ACQUISITION CRITERIA

investment criteria graphic WHITE