CREI Partners focuses its business on value-add multi-family opportunities. Properties are identified through a disciplined selection criterion, while utilizing CREI Partners experienced team to execute the investment process to its fullest potential. We built and continuously align our business to these four pillars: Disciplined Strategy. Investment Transparency. Experienced Partners. Results Driven.
Desired Investment Criterion
- Class B or C Garden Style Apartments
- Priority Markets Austin, San Antonio and Houston
- 1980 or newer construction
- $4M+ range
- Minimum of 70+ units
- 85%+ Occupancy
- Purchase price less than 80% of replacement costs
- Increasing market fundamentals
- Renovation opportunities to achieve rent premiums
- Increasing net operating income via moderate capital expenditures
- 5-7-year hold period
- Minimum Debt Service Coverage Ratio of 1.25
- 12-15%+ IRR
Texas Multi-Family Markets
Primary and Secondary Market Locations are our focus along with a disciplined approach to understanding sub-markets at a hyper local level. Our current target markets are Austin, San Antonio and Houston due to close proximity to where we live and have experienced partners to execute our investment strategy. These markets meet our market investment fundamental attributes. As we grow into other markets these fundamentals must be present for us to invest.
Attributes of Strong Apartment Fundamentals:
- Landlord Friendly State
- % of Job Growth Trending Upwards
- % of Population Growth Trending Upwards
- % of Income Growth Trending Upwards
- % of Crime Rate Trending Downwards
- Strong partner relationships to execute the investment strategy.