Investment Strategy
Disciplined Capital.
Workforce Housing.
Lasting Returns.
We acquire Class B / B- multifamily assets in the Ocoee and Northwest Orlando corridor — a high-growth market consistently underserved by institutional capital — and operate them with precision to generate superior risk-adjusted returns for our investors.
The Investment Thesis
Why Workforce Housing,
Why Now
+2.7
M
New Florida Residents (2020–2025)
Florida added more residents than any other state over the last five years, sustaining persistent housing demand in metro submarkets.
Florida’s population growth continues to outpace national averages, yet the supply of attainable rental housing for working families — teachers, nurses, tradespeople, service workers — has been structurally lagging for over a decade. Class B and C multifamily properties in established suburban corridors represent the backbone of this need, and they remain largely ignored by institutional buyers focused on larger, trophy assets in primary markets.
+18
%
Workforce Housing Vacancy Rate vs. Market
Class B/C multifamily vacancy in Northwest Orlando runs roughly 18% below the broader metro average, reflecting structural undersupply in the attainable segment.
The Ocoee and Northwest Orlando submarket is the specific intersection we’ve chosen deliberately. It combines above-average employment growth driven by the I-4 corridor, a diversifying employer base anchored in logistics, healthcare, and technology, and a persistent supply constraint created by limited land availability and zoning friction. This combination creates the conditions for durable rent growth and low vacancy — the two fundamentals that protect investor capital over a full cycle.
$0
Institutional Ownership in Our Target Zone
Sub-150-unit properties in the Ocoee corridor attract virtually no institutional competition, giving experienced operators a persistent pricing advantage.
Our approach is not opportunistic flipping. We acquire assets with a value-add mandate and operational discipline, stabilize them over a 3-to-5 year period, and deliver returns through a combination of cash flow distributions and a well-timed exit — either a sale to an institutional buyer or a recapitalization that returns capital to investors while retaining upside.
The Buy Box
We Know
Exactly
What We Buy
Every acquisition undergoes the same disciplined filter before a single dollar of investor capital is committed. These are not guidelines — they are gates. A deal that clears all eight parameters advances. One that misses does not.
⚡ Acquisitions are opportunity-driven but discipline-bound.
We underwrite dozens of opportunities for every deal we close. The buy box is the reason our investors sleep well — and the reason we say no more than we say yes.
Asset Class
B / B-
Class B and B- multifamily only — workforce housing with value-add potential
Unit Count
40-100
Below institutional radar, above single-family complexity — our operational sweet spot
Max Price Per Unit
$210K
Hard ceiling on per-unit cost — ensures basis remains favorable for exit pricing
In-Place Cap Rate
+5.5%
Minimum cap rate at acquisition — day-one yield protects against downside scenarios
Target IRR
+15%
Minimum internal rate of return modeled over the full hold period
Equity Multiple
1.7x
Every dollar invested should return at least $1.70 — a meaningful, tangible result for LPs
Preferred Return
7 – 8 %
Investor-first distributions — LPs receive preferred return before GP participates in upside
Target Hold Period
3 – 7 yr
Flexible hold window aligned to market conditions and stabilization timeline
The Value - Add Playbook
What We Do
After
We Acquire
🏗️
Physical Renovation
Targeted interior upgrades to kitchens, baths, and flooring – improvmeents that command domonstrable rent premiums in the local comp set without over-improving the asset for the submarket. Exterior and curb appeal improvmenets to reduce vacancy draft an support repositioning.
⚙️
Operational Optimization
Expense rationalization through vendor renegotiation, utility management, and professional property management oversight. We underwrite conservatively on expenses and target improvements on multiple line items — management, insurance, maintenance, and utilities — within the first 18 months of ownership.
🤝
Tenant Experience
Workforce housing residents are long-term tenants when treated with respect and reliability. We invest in property communication, responsive maintenance, and community amenities that reduce turnover — because every unit turn costs real money and disrupts cash flow.
💰
Financing Optimization
Post-stabilization refinancing events that return capital to investors ahead of the final exit, locking in gains and resetting basis. We structure acquisitions to maximize flexibility — targeting non-recourse debt where achievable and stress-testing coverage ratios against multiple rate scenarios
Target Market
Northwest Orlando: Ocoee, Winter Garden.
The Case
The Northwest Orlando corridor added over 45,000 residents between 2018 and 2024, anchored by employment growth in healthcare, logistics, and professional services. The I-4 corridor concentration creates a dense, commuter-friendly base of workforce tenants who prioritize proximity to major employment nodes
Population & Employment Growth
Class B / B- rents in this submarket have grown consistently above the Orlando metro average, supported by limited new supply at the workforce price point. Vacancy rates have remained below 5% for the segment over the past 36 months — a structural signal, not a cyclical one.
Rent Growth & Low Vacancy
Institutional capital concentrates in downtown Orlando and the Lake Nona/Medical City corridor. The Northwest submarket sees almost no REIT or fund activity at the 20-to-150-unit scale — creating a persistent pricing advantage for disciplined local operators with deep market knowledge.
Under-Institutionalized Submarket
Ongoing I-4 Ultimate improvements, the West Orange Trail connectivity expansion, and proximity to UCF’s western campus pipeline and the Horizon West employment growth zone create sustained demand drivers that underpin long-term asset appreciation in the target zone.
Infrastructure & Development Tailwinds
Ready to Invest
How
Returns
Flow to Investors
Distribution Waterfall — Standard Structure
Return of Capital
100% of distributions flow to LPs until all invested capital is returned in full. GP receives nothing until this threshold is cleared.
100% LP
Preferred Return — 7 to 8%
LPs receive a cumulative preferred return of 7–8% per annum on invested capital before GP promote is earned. Accruing, not discretionary.
100% LP until hurdle
GP Catch-Up
Once LP preferred return is satisfied, GP receives a catch-up allocation until promote split is achieved proportionally.
GP Catch-Up
Residual Split — Upside Participation
All remaining distributions split between LP and GP at agreed-upon promote structure. LPs retain the significant majority of total project upside.
LP / GP Split