Investment Markets
Investment thesis: By purchasing real estate for less than the intrinsic value, we are able to deliver attractive returns to investors and transform communities that have gone neglected and overlooked for a generation.
Within each market, we are looking for the following:
- Access to public transportation [within ½ mile]
- Major catalyst for development
- Proximity to city center and/or a university [within 15 minutes by car]
- Price to rent ratio : monthly rent is at least 1.5% of purchase price
- Decreasing crime trend
Detroit, Michigan
Market Highlights: Detroit, the most populous city in Michigan and the Metro Detroit area, serves as a major port connecting the Great Lakes to the Saint Lawrence Seaway.
Diversity of Employment: Detroit is home to “The Big 3” major automotive companies in the U.S. and Canada (General Motors, Ford Motor Company, and Chrysler), and the headquarters/major corporate offices of 100 Fortune 500 companies, including: Penske Automotive, Quicken Loans, Kellogg, Whirlpool, and Walmart.
% of Homeowner Population: Detroit has a 48.2% homeownership rate, meaning that more than half the city rents.
Average price of average rent: $987/mo
Toledo, Ohio
Market Highlights: Toledo is the fourth most populous city in Ohio. The city’s economy has long revolved around the manufacturing of glass, which has led to the nickname “The Glass City.”
Diversity of Employment: The 21st century brought about many redevelopment projects to draw more residents to Toledo including Fifth Third Field and Huntington Center.
% of Homeowner Population: Toledo has a 52.3% homeownership rate, meaning slightly less than half the city rents.
Price of Average Rent: $683/mo
Dayton, Ohio
Market Highlights: Dayton OH is the sixth largest city and forth largest metro area in Ohio. While it was in a population decline from manufacturing jobs, the city has diversified and is now on track for stable population.
Diversity of Employment: The top employer of Dayton is Premier Health Partners, which employs over 14,000 people. Other top employers are Montgomery County, Sinclair Community College, Dayton Public Schools and the University of Dayton.
% of Homeowner Population: Dayton has a 48.4% homeowner rate, meaning that more than half the city rents.
Price of Average Rent: $746/mo
Columbus, Ohio
Market Highlights: Columbus is the capital of Ohio and the largest city in the state. It is the 3rd largest metropolitan statistical area in the state. Columbus was named as one of the top 50 cities in America in 2012 by BusinessWeek, and it was given an A rating by Forbes a year later as one of the top cities for business in the country. It was also recently named as one of the top cities to relocate in the country and the number 3 best city of the future.
Diversity of employment: Home to The Ohio State University, Limited Brands, Inc., Nationwide Insurance and other well-known companies, our economy is balanced by a combination of education, technology, government, research, insurance and health care as major employers in the region.
% of Home Population: Columbus as a 45% homeownership rate, meaning that more than half the city rents.
Price of Average Rent: $888/mo
Savannah, Georgia
Market Highlights: Savannah is the oldest city in Georgia and is the fifth largest city in the state. Today, the city is a popular tourist destination. Its cobblestone streets and historic buildings are just a few of the many attractions that bring in visitors every year. The downtown area of Savannah is designated as a National Historic Landmark District and is one of the largest in the United States.
Diversity of Employment: Today, Savannah’s port and tourism are main drivers of the economy. Savannah is also one of the largest ports for shipping container traffic and is home to many company headquarters including TitleMax and JCB. Many students also call Savannah home as it is the location of several universities and colleges, including Armstrong State University, Savannah State University and Savannah College of Art and Design.
% Homeowner Population: Savannah as a 43.1% homeownership rate, meaning that more than half the city rents.
Average Price of Average Rent: $985/mo
Camden, New Jersey
Market Highlights: Camden is located directly on the Delaware River 5 miles way from Philadelphia, Pennsylvania and a 30 minutes commute to Wilmington, Delaware.
Diversity of Employment: Camden has a tremendous employment opportunity. Home to Rutgers University- Camden and Cooper University Health Care with employment opportunities form, University of Pennsylvania and Health Systems and Comcast Corporation directly across the river.
% of Homeowner Population: Camden has a 38.5% homeownership rate, meaning over half the city rents.
Average Price of Rent: $1100/mo
Philadelphia, Pennsylvania
Market Highlights: Philadelphia is the largest city in Pennsylvania and has seen steady population growth for the last 11 years
Diversity of Employment: University of Pennsylvania and Health System 33,000 employed. Comcast Corporation 22,000 employed. Thomas Jefferson University and Jefferson Health 20,000 employed.
% of Homeowner Population: Roughly 55% of Philadelphians own their home.
Average Price of Rent: $1438/mo