Acquisition Criteria

• Markets: Emerging markets that meet our population growth, job growth, income growth, job diversity, supply/demand, and business friendly states criteria.
• Sub-markets: Low crime rate, min median household income of $50K, low poverty rate under 20%, unemployment rate of no more than 2% above the city average, etc.
• Property type: Class B/C+ stable value add properties in Class B areas with Day 1 cash flow, positive leverage, adequate capitalization, and stabilized break-even occupancy below 75%.
• Loan To Value: Not to exceed 60-75%
• Hold Period: 5-7 years