Pia Residential

Contact Us
  • 19790 W. Dixie Highway, Suite 501
    Aventura, FL 33180
  • info@piaresidential.com
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© Copyright 2023. PIA Residential

Strategy

Investment Strategy

PIA targets Class B properties in the Southeast US, that can be acquired below replacement cost or have been under-managed and can provide stable returns as well as capital appreciation through a disciplined value-add program with a projected average hold period of five years.

Renovation of unit interiors that translate into higher rents and improved returns to investors

Capital improvements of exteriors and common areas to increase property value

Implementation of efficient property management to improve operating performance

Improved branding and marketing to increase appeal to renter profile

Investment Rationale

Liquidity

Multifamily transaction volume continues to increase with strong institutional demand and stable debt offering.

Supply/Demand Imbalance

New deliveries of multifamily units are unable to keep up with the rapid demographic growth and new household formation.

Stable Asset Class

Multifamily occupancy has outperformed other real estate assets classes over multiple cycles.

Demographic

Continued population growth with strong migration to the Southeast.


Affordability

The shortfall of available residential units combined with the high cost to own, increases demand for Class B rental properties.

Hedge Against Inflation

Yearly rent adjustments provide good protection during inflationary times.

Target Markets

  • Alabama
  • Florida
  • Georgia
  • North Carolina
  • South Carolina
  • Tennessee
  • Texas

Our Acquisition Process

Deal Flow

PIA Residential reviews over 600 properties annually stemming from our broker and non-broker relationships.
Step 1

Market Analysis

PIA Residential continuously follows economic and employment trends, local development pipeline, leasing data, property sales, and other relevant variables in target markets.
Step 2

Underwriting

Once a project has gone through a preliminary review and the senior team agrees the prospective acquisition merits further analysis, it will proceed with a detailed underwriting consisting of several stages before it is presented to Investment Committee.
Step 3

Investment Committee

Each investment opportunity undergoes detailed review and deep discussion by the Investment Committee with the participation of the acquisition and asset management teams prior to a submission of a best and final offer. The Investment Committee is comprised of the three partners of PIA Residential, who have decades of experience in residential real estate and invest their own capital in each acquisition vehicle. This efficient structure with only one-tier approval allows for a swift decision process.
Step 4

Underwriting

Once a project has gone through a preliminary review and the senior team agrees the prospective acquisition merits further analysis, it will proceed with a detailed underwriting consisting of several stages before it is presented to Investment Committee.



  • Financial Analysis:

    PIA Residential's acquisition team, in cooperation with the asset management team will undertake a detailed financial analysis process with various review phases, including multiple sensitivity analysis.



  • Leverage-Established Network:

    PIA Residential cross references its own data-driven information with research from trusted local business partners (brokers, lenders, etc.) and consults with tax and insurance experts.



  • Project and Market Visit:

    PIA Residential conducts on-site due diligence to assess the physical condition of the property, evaluate location and surrounding area, including inspection of comparable properties in the submarket and greater market.

Become a PIA Investor

PIA’s objectives are to preserve capital, produce consistent cash yields, and generate attractive risk-adjusted returns for its investors. We achieve this by carefully building a diversified portfolio of multifamily investments through PIA Residential Fund I, LP

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