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.