The fund will have a strong focus on Northeast Ohio and acquire multifamily communities that exhibit strong value-add potential with an exciting risk/return profile.
Smartland’s expert deal flow team extensively researches properties where they can capitalize on others’ mediocracy. These deals are on and off-market properties that are currently Class C or D but are in Class A to C locations.
These projects have potential but require very heavy lifting. Everyone else in the market tends to avoid heavy lifting projects. Smartland, however, thrives on these mismanaged assets where there is little-to-no market competition. Our sweet spot in the market is acquiring projects that require too much effort and equity for smaller regional players but sit well below the minimum equity requirements of larger institutions.
Smartland’s target deal flow includes properties where rents are 10 percent below the current market rate and where opportunities exist to add amenities such as pet parks, EV charging stations, smart technology, Uber Me Home, social and entertainment areas, and 24-Hour maintenance. These amenities add economic, social, and environmental value to a more diverse range of tenants and the surrounding communities which, in turn, bring value and profit to investors.
Over the last 10 years, we have established a track record of high performing investments and maximizing revenue. We’ve accomplished this with our discipline, execution, entrepreneurial vision, out-of-the-box thinking, systematic approach, and efficient mobilization of resources. We look to continue our great track record with this fund.
Our current deal flow includes 10 residential multifamily communities that fit our criteria and business model perfectly. These communities include 50 buildings with over 1,000 units that we will acquire with our first fund close.
We look forward to learning more about your long-term investment goals and how Smartland can be the best partner for you.