Virtelis Acquisition and Development Criteria
Virtelis Acquisition and Development Criteria
Flex/Industrial Criteria
- Seeking class B & C properties in high-growth Texas markets (Houston, Dallas, Austin, San Antonio, Ft. Worth).
- Interested in value-add, multi-tenant opportunities with upside potential. Will consider single tenant buildings if there’s additional land to develop.
- Focus on acquiring well-located assets at a discount to replacement cost.
- Acquire performing and non-performing mortgage-backed notes to reposition undercapitalized properties.
- Prioritize quality properties with strong income streams and favorable demographics.
- Embrace the strategy of resilient assets in robust markets for long-term outperformance.
- Utilize hands-on approach to address issues, increase rental rates, and enhance asset values.
Multifamily Criteria
- Class B, C, and D properties with a unit count greater than 20.
- Located near good school districts in strong submarkets with good amenities- a plus if it’s walkable and along a bus route.
- Proximity to service areas, office, or industrial parks.
- Projects in need of a renovation and upgrade program.
Development Criteria (Flex/Industrial & Multifamily)
- Develop best-in-class facilities in supply-constrained, high-growth submarkets.
- Program includes build-to-suit and selectively chosen speculative projects.
- Focus on submarkets with high demand with limited supply.
- Flexibility in development strategy either to hold as core assets or sell upon stabilization.