INVESTMENT CRITERIA
Edison Ashcroft will seek acquisitions ranging from $30-$60MM in capitalization, each representing approximately 250-500 residential units.
Acquisition criteria includes:
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Excellent locations with strong demand drivers (job growth, limited new supply risk, population migration).
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Ability to acquire below replacement cost.
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Cap rate spread relative to debt yield resulting in solid cash yield component.
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Moderate renovation, typically $4,000-$8,000/unit.
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Light structural improvements, thereby avoiding construction risk.
INVESTMENT TERMS
Locale:
Property Type:
Strategy:
Property Investment Size:
Debt:
Est. Annual Cash Return:
Targeted Hold Period IRR:
Hold Period:
Texas key markets in addition to other major MSA's across the US
Class A-, B, B+ (early 2000's to 1980's vintage)
Value add with some core plus
$30 - $60 Million
65 – 75% of Purchase Price
7.0 - 9.0%
16.0 – 18.0%
3 – 7 Years