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
