WHERE WE INVEST

Where We Invest

Markets With Momentum.
Opportunities With Margin.

We focus on multifamily markets where long-term economic and demographic strength intersect with opportunities created by changing capital markets, operational inefficiencies, and evolving ownership circumstances.

OUR ACQUISITION CRITERIA

OUR MARKET SELECTION STRATEGY

We Don't Choose Markets Based on Headlines.

Our market selection process begins with the underlying drivers of multifamily demand. We

seek metropolitan areas with economic depth, population and household growth, employment

diversity, housing affordability, and a durable need for rental housing.

POPULATION

Growing households and renter demand.

EMPLOYMENT

Diverse and expanding employment bases.

AFFORDABILITY

Housing economics that support rental demand.

SUPPLY & DEMAND

Submarkets where long-term demand can support existing inventory.

AQUISITION BASIS

Opportunities to acquire assets at a basis that supports our return objectives.

"Strong markets create opportunity. Disciplined acquisition determines whether we participate."

TWO MARKETS. TWO DISTINCT OPPORTUNITIES

GROWTH + DISLOCATION

Houston, Texas

A growth market entering a new acquisition cycle.

Houston's scale, population growth, employment diversity, and expanding suburban corridors support a substantial long-term need for rental housing.

At the same time, higher borrowing costs, maturing debt, elevated operating expenses, and properties acquired during the low-rate environment may create opportunities for well-capitalized buyers to acquire assets from owners facing a very different financing environment than when they originally purchased.

SCALE

One of America's largest metropolitan economies and multifamily markets.

GROWTH

Continued household formation and expansion across key

suburban corridors.

ECONOMIC DIVERSITY

Energy, healthcare, logistics, manufacturing, aerospace, and professional services power the economy.

POTENTIAL DISLOCATION

Debt maturities and changing capital-market conditions may create motivated ownership situations.

STABILITY + BASIS

Indianapolis, Indiana

A stable market where basis and cash flow matter.

Indianapolis offers a complementary investment profile characterized by relative affordability, a diversified employment base, established renter demand, and acquisition pricing that can remain attractive compared with many high-growth metropolitan areas.

We seek opportunities where existing cash flow provides a solid foundation while operational improvements and targeted capital investments can create additional value.

AFFORDABILITY

Pragmatic values and housing costs remain comparatively accessible.

DURABLE DEMAND

A broad renter base supports established multifamily communities.

DIVERSIFIED ECONOMY

Healthcare, logistics, manufacturing, life sciences, technology, and government contribute to diversity.

CASH-FLOW ORIENTATION

Acquisition pricing can provide opportunities to emphasize current income alongside appreciation.

EXPLORE OUR HOUSTON BUY BOX

EXPLORE OUR INDIANAPOLIS BUY BOX

WHERE WE'RE LOOKING

HOUSTON METRO

Currently evaluating opportunities throughout Greater Houston,

including:

Katy • Energy Corridor • Cypress • Spring • The Woodlands

and other select Houston submarkets.

INDIANAPOLIS METRO

Currently evaluating opportunities throughout the Indianapolis metropolitan area, including:

Indianapolis • Castleton • Carmel • Fishers

and other select Indianapolis submarkets.

MARKET CYCLES CREATE OPPORTUNITY

Opportunity Emerges

Through Market Cycles.

Real estate markets are constantly changing. Interest rates rise and fall. Lending standards tighten and loosen. New construction expands and contracts. Ownership priorities change.

We believe these periods of transition can create compelling opportunities for disciplined, patient investors.