Acquisitions

PRG Acquisition Focus

PRG’s focus is on middle-market housing and opportunities to improve net operating income through value-added renovation, repositioning and creative cost savings programs. With a current concentration on the East and West Coasts, including the New York Metropolitan Area, California and South Florida, we have targeted the following property attributes:

  • Class B and C Multifamily – Physical and operational value-added opportunities
  • Broken Condominiums – Combine rental operations and condo sales/marketing
  • Mixed-Use Properties – Urban residential and retail
  • Extensive Rehabilitation – Design and construction management requirements
  • Affordable Housing Properties – Expiring tax credit properties and other development opportunities

We often acquire assets that are traditionally undervalued or overlooked by other institutional buyers as we seek properties for middle-market, workforce populations in key urban and suburban locations.

 

Navigating complexity

The integrated, multidisciplinary team approach of our in-house real estate professionals, combined with their experience and expertise, enables our Acquisitions group to navigate through a variety of nuances and complexities associated with multifamily investments.

Our knowledge of GSE financing, taxable and tax-exempt bond financing, rent regulation, tax abatements, mixed-income and multi-use properties, construction and rehabilitation all make it possible for PRG to successfully close on targeted investments as a sought-after partner and preferred buyer.

In addition, PRG’s principals have been innovators in the affordable housing industry, creating the first public fund and the first insured fund for investment in Low Income Housing Tax Credit (LIHTC) properties. We employ our skills in complex property transactions, our knowledge of special needs properties and our experience in equity financing solutions to rehabilitate properties while continuing to provide affordable housing across our nearly 3,000 LIHTC apartment units under management.  And PRG leverages these valuable capabilities across all of our real estate ventures.