PRINCIPAL STRATEGIES

Our historical background has been real estate development and traditional businesses. We are currently focused on the following business interests through our ecosystem.

Zoned and Entitled Land Acquisitions:

Class A Suburban Infill Neighborhoods in Virginia, the Carolinas(Charlotte, Research Triangle, Greenville, Columbia most active), Georgia(suburban Atlanta and Savannah are most active), Central and Gulf Coast of Florida (Orlando, Tampa, Brandon, Sarasota, Fort Myers most active), Alabama(Birmingham), Tennessee (Nashville, Knoxville), and Texas(Dallas-Fort Worth Suburbs, Houston Suburbs, Austin, San Antonio most preferred) with average rents at a $1.45 minimum per square foot. 

Typically, these will be suburban infill sites on the perimeter of the current development activity in the respective market, including sites incorporating water. These locations will be higher-end neighborhoods surrounded by quality retail and schools. 

We are not interested in first into the neighborhood scenarios. 

Size:

Minimum 25 net residential acres. Zoned and Entitled to a minimum of 250 garden-style multi-family and townhouses. 

We would consider large mixed-use master-planned/planned unit developments (PUD) communities with a multi-family/townhouse component.  

Real Estate Acquisitions:

We have a strong preference for direct acquisition of cash flowing assets nationwide across the most asset classes, including multi-family, industrial, life sciences, office, and retail with value-add built in at time of acquisition.  We will review distress scenarios as well, especially within office, industrial, and multi-family.  

We are especially keen on recently completed multi-family assets in the lease-up phase experiencing interest rate stress and other existing challenged multi-family assets with acquisition prices ranging from $30 million to $100 million. 

These scenarios will require $10 – $50 million equity checks with select consideration toward mezzanine and preferred equity structures.

Within Florida, Georgia, Tennessee, Texas, and the Carolinas, we will consider sub-institutional Class A & Class B Joint Venture scenarios and sub-performing note acquisitions from $1 – $10 million for a 3 – 5 year hold period where we target a 2.5x yield within a value-added, opportunistic thesis.

The asset classes within this sub-institutional focus include 250+ unit multi-family, light industrial, mixed-use, and self-storage, where no single tenants account for more than 50% of the tenant mix.

Critical Infrastructure & Corporate Sale-Leaseback/Build-To-Suit:

These include municipal wastewater treatment facilities, water towers, data centers, fuel storage facilities, government facilities, and other mission-critical facilities. 

Type transactional values will be greater than $10+ million with a minimum 10-year NNN lease backed by an investment grade or shadow investment-grade credit rating throughout North America. 

Through experience in hard assets and infrastructure, we will align value within opportunities, including waste-to-value and waste-to-energy projects. With any hard asset endeavor, we avoid pre-development and technology risks. We rely heavily upon contractual revenues supported by strong balance sheets and investment-grade credit. 

We will also consider corporate-owned sale-leaseback scenarios for acquisition and/or corporate advisory at a minimum of $10 million.  We will consider non-investment grade scenarios under $10 million on a select basis.

Scenarios involve single-tenant industrial/warehouse/cold storage/logistics, healthcare, office, corporate headquarters, and regional operational centers. 

Founder-Led Operating Companies:

Actively pursue unique, proprietary scenarios are private founder/family-led companies, reasonably valued, and profitable with EBITDA of $1 - $40 million with EBITDA margins > 15%, ROIC >15%, and Gross Margins > 25%. If they possess a healthy balance sheet and strong management team, we will selectively pursue stable large-cap companies requiring liquidity for continued growth.

Industries of strength - telecom, wireless, manufacturing, waste management, industrial/industrial services, transportation, logistics, financial services, business services, consumer services, food, medical devices, healthcare, and unique esoteric scenarios – businesses that remain the drivers of our economic revival through ongoing demand.

These companies are performing well, have reached an inflection point, or are seeking a phased exit but have continued upside through strategic support. Characteristics within these companies include strong management teams with predictable and recurring revenues and high gross margins. Preference is to see manageable capital expenditures and operating expenses that are typically highly variable. 

Under $5 million EBITDA, we can consider turnaround, distress, bankruptcy, and Article 9 scenarios.  These include challenges that other folks will avoid such as customer concentration risk, litigation, and lifestyle businesses that have deficiencies.

Telecom / Fiber / Power Generation:

Seek expandable digital asset infrastructure scenarios where we can incorporate our executive, master development, and operational partners under acquisition and build-to-suit scenarios with a historical track record. 

It includes scenarios involving cell tower portfolios, renewable power generation/utility grade solar farm development, distributed antenna systems (DAS), and electric-as-service (EaaS) structured with preferably minimum 10-year investment-grade contractual revenues. 

We also pursue strategic relationships with real estate developers, asset owners, municipalities, and other government entities to develop private smart fiber networks that increase the NOI and enhance the attractiveness of their community with a state-of-the-art network. End users can access VOIP, TV/Video, cloud connection, and telemedicine services through our utility fiber infrastructure.