Private Real Estate

CORE-PLUS

• Investment Thesis: primarily in-place cash flow, secondary focus on capital appreciation

• The strategy focuses on acquiring assets with current cash flow and potential for net operating income growth: properties with a potential to increase cash flows through property improvements, active asset management, leasing vacant spaces, increasing existing rent to market levels, potential ESG improvements

• Hold Period: 5+ years

• Moderate leverage

VALUE ADD

• Investment Thesis: cash flow and/or capital appreciation

• Our value-add strategy focuses on acquiring and improving properties for long-term ownership: properties that could be improved and increasing cash flows to sell at higher value. We create value through renovation, repositioning, leasing, other substantial alterations increasing returns through operational and/or capital improvement

• Target occupancy at acquisition:  non-stabilized assets with substantial vacancy 

• Hold Period: 3-5 years

• Higher leverage

OPPORTUNISTIC

• Investment Thesis: cash flow and/or capital appreciation

• ​Build-to-core, redevelopment or major repositioning, extensive leasing, adaptive reuse and sale

• Distress and other special situations

ASSET CLASSES

• Innovative Living & Residential: BTR, BTS, student accommodation, serviced apartments, hybrid concept between traditional hospitality and living​

• Logistics​: Urban, mid-box logistics​, cold logistics, self-storage, strategic land

• Hospitality​: Leisure, Lifestyle hotels​

• Office: upgrade to meet higher quality or conversion to other use​