Investment Strategy | McCann Realty Partners

Development Criteria

McCann seeks to acquire strategically-located land to develop multifamily communities in select markets, with particular emphasis on Houston, Dallas/Fort Worth, Austin, Orlando, Raleigh/Durham, Charlotte, and Richmond.

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

Acquisition Criteria

McCann seeks to acquire well-located multifamily assets in select markets with particular emphasis on the Washington, DC / Northern Virginia, Virginia, North Carolina, South Carolina, Atlanta, Nashville, Florida, Dallas/Fort Worth, Houston, and Austin 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.

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:

200 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