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Founded in 2001, One Real Estate Investment (“OREI”) is a vibrant, privately owned, Miami -based real estate investment and asset management company.

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One Real Estate Investment
888 Brickell Avenue, 3RD Floor
Miami, Florida 33131

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STRATEGY

One Real Estate Investment is focused on value-add multifamily in the Southeast United States and Texas. The OREI team fosters industry-wide business relationships to discover favorable opportunities that meet our strategic investment criteria and leverage operational efficiencies with necessary third parties to conduct cost efficient, secure, and orderly transactions.

Criteria

Details

Property Type

  • Class ‘B’ or ‘C’ garden-style apartment communities with repositioning opportunities 

  • At least 50% of units available for value-add improvement program

  • Year of initial construction roughly within 1980s – 2000s

Investment Size

  • $20-75 million asset size

Leverage

  • 60-70% LTV with maximum available I/O 

  • Preference for fixed rate facilities

  • Agency financing, Life Company, Regional Banks and debt funds considered in a   competitive process

  • 5 Years

Typical Hold Period

Target Returns

  • 13-16% IRR (net of fees and promote gross of tax) 

  • 5-8% average Cash-on-Cash over the Hold Period net to investors (gross of tax)

Target Metros

  • Southeast United States and Texas

  • Broader markets of Houston, Dallas, San Antonio, Atlanta, Raleigh, Charlotte, Tampa,   Orlando and West Palm Beach

  • Regenerated/repositioned submarkets of 18-hour cities with strong population,  employment and household income growth

Submarket

  • Supply constrained submarkets/neighborhoods with high barriers to entry

  • Stable and diverse employers with attractive job growth rate and household income levels

  • Above 90% submarket occupancy with sustained positive net absorption and rental growth for past 3 years

  • Positive trending T-3’s and T-6’s from T-12’s

  • Value-add properties with below market rents with common area improvement and in-unit upgrades

  • At least 30% below replacement cost pricing

  • No significant concession or bad debt over the past three years

Investment Considerations

Other considerations

  • Single assets are preferred over portfolio deals

  • Preference for off-market transactions

  • 50-80 days close period from the date of receipt of deal information