Investment

McCann Realty Partners' Development and Acquisition Investment Criteria.

Development Criteria

McCann Realty Partners, LLC seeks to acquire well-located land to develop multifamily communities in select markets in the southwest, with particular emphasis on Dallas/Fort Worth, Austin, San Antonio, Houston, and Orlando.

Regions:

  • Southwest
  • Dallas/Fort Worth
  • Austin
  • San Antonio
  • Houston
  • Orlando

Category: Well-located land in strong submarkets including infill locations for development of multifamily residential communities.

Size: Minimum 250 units, preferably 350+ units; 3-story garden walk-up product.

Terms: Typically all cash, but will consider seller financing.

Submittal Information:

  • Location map and area description
  • Aerial photograph of site and vicinity
  • Plat or parcel plan, current survey and topo
  • Current tax bill, Market data (include sales and rent comps)
  • Zoning and entitlement status
  • Cash Proffers
  • Any offsite or other extraordinary development costs

Acquisitions Criteria

McCann Realty Partners, LLC seeks to acquire well-located multifamily assets in select markets, primarily in the southeast and adjacent regions, with particular emphasis on the Virginia, North Carolina, Atlanta, Dallas/Fort Worth and other major markets in the Texas and DC/Baltimore markets. The desired investment includes Class A, B quality in B+ or better locations. We will consider garden, mid-rise and high-rise communities, as well as assets that can benefit from renovation and repositioning.

Regions:

  • Washington, DC/Baltimore
  • Virginia – northern Virginia, Richmond, Tidewater, Charlottesville
  • North Carolina – Charlotte, Raleigh, Greensboro, Wilmington
  • Texas – Dallas/Fort Worth, San Antonio, Houston, Austin
  • South Carolina
  • Georgia
  • Florida
  • Tennessee

Category: Class A or B communities. Rehab and repositioning properties considered. Will consider conversion of a building not currently operating as residential; e.g., warehouse to multifamily residential and/or mixed use and TOD assets.

Size: 150 units or larger.

Terms: Typically all cash, but will consider assumption of existing financing or seller financing.

Submittal Information:

  • Location map and area description
  • Aerial photograph of site and vicinity
  • Complete property description
  • Color photographs
  • Current tax bill
  • Three years operating statements plus current YTD
  • Current and past three months rent rolls (including concessions and delinquencies)
  • Terms of financing (if assumable) including any prepayment provisions
  • Detailed market data (include sales and rent comps)
  • Capital improvements listing for the last five years