Investment Classification – Value-Add transactions where asset appreciation and income growth can be achieved through renovation, diligent leasing practices and proactive building management.
Property Types – Multi-family and Mixed-Use
Investment Size – Properties of $5 million or less, which is an area largely ignored by larger, institutional buyers thereby creating excellent investment opportunities through lower competition.
Investment Strategy / Hold Time – Projected hold period of 3 to 7 years, however the Principals use their discretion to dispose of an asset sooner or hold for a longer horizon to achieve maximum value.
Geographic Criteria – North and Northwest sides of Chicago and Chicago suburbs.
Integrated Real Estate Services
33CP is uniquely positioned to benefit from the premium services offered through 33’s management, leasing, construction and brokerage teams. This integrated platform not only leads to cost savings through project efficiencies, but also ensures a level of accountability and operational excellence that is unmatched. These integrated service lines include:
- Construction – 33 Development manages all construction within the portfolio. 33 Development is a fully licensed, bonded and insured general contractor and construction consulting firm. In the past 24 months, 33 Development has renovated over 450 apartment units single family homes and retail spaces.
- Management – Upon acquisition, 33CP uses the management services of 33 to manage the property before, during and after the construction. 33, with over 1,000 units presently under management, leverages its economies of scale to drastically reduce property operating costs.
- Leasing – 33 has a fully captive leasing team of 15 dedicated agents that service 33CP’s portfolio of properties to achieve top rental rates.
- Acquisition / Disposition – 33CP relies on the capabilities of 33’s investment brokerage operations to source on-and-off-market acquisitions and to actively market and dispose of assets if / when the Principals elect to pursue a strategic sale from the portfolio.