Projects

Acquisitions

Meer Capital Partners acquires existing projects in markets that do not meet expected labor growth or Company capitalization rate goals in the near future. Most acquisitions result from identification of under priced properties, which can be refurbished and/or repositioned in their respective markets to increase net operating income.

Most of these properties purchased by the Company suffer from one of three major issues:

• The property is either tired or has suffered from a lack of periodic remodeling or maintenance to keep with current market trends. Such properties are located within high occupancy areas with strong resident bases who seek value for their rental dollar,
• The property was marketed to the wrong resident target group and with a limited update of the facilities and a repositioning of the marketing, the property can be moved to full occupancy at higher rates. These properties are usually less than three years old.
• The property suffers from a lack of resident friendly units and facilities. The property therefore must undergo a major renovation to achieve our goals for future rent. These properties typically are at or near business centers in well-established suburbs, which represent the most desirable places to live due to the lengthy commutes in the present day. These properties are usually more than 20 years in age.

We look to achieve IRR’s of at least 12% on our acquisitions and maintain an open mind toward holding periods.