Phoenix
Realty Group

(“PRG”) is a private equity real estate firm, that acquires, develops and operates multifamily real estate across the United States.

Phoenix Realty Group is a
vertically-integrated real estate firm which acquires, develops, owns and operates multifamily residential properties across the United States.

About the Firm

Founded in 1999, PRG has acquired 28,000+ units, leveraging disciplined underwriting, operational transformation, and strategic capital deployment to unlock outsized equity upside while maintaining prudent risk controls to protect investor capital and optimize returns.

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By the
Numbers

0

years

0K+

units acquired/
developed since
inception

$0B

In Gross
Real Estate AUM

Value-Added

We acquire, renovate and reposition urban and suburban multifamily residential properties in infill and/or higher barrier-to-entry markets to unlock both current income and value creation potential.

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Affordable Housing

We acquire/develop and/or rehabilitate urban and suburban affordable residential properties where we can institutionalize operations while leveraging regulatory changes, subsidies, tax abatements and other mechanisms to grow NOI and enhance cashflow.

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New Construction

We construct institutional-quality, ground-up multifamily communities across major U.S. metropolitan markets.

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By the
Numbers

25

years

28k+

units
acquired/developed
since inception

$2.25Bn+

In Gross
Real Estate AUM

The PRG Advantage

Deal Sourcing

  • PRG has a national in-house deal sourcing team which evaluates 180 potential investments each year.
  • Seeks properties with some degree of undermanagement, deferred maintenance and/or capacity to renovate to achieve rent increases.
  • Prioritize properties with day one cash flow from property operations and capital appreciation upon exit.

UNDERWRITING & STRATEGY

  • Review asset location, design, layout, and overall economics including price per sqft, YoC, AMI, population growth, vacancy rates, cost basis, vintage and more.
  • Acquire, renovate and reposition multifamily rental properties. Target value-added urban and suburban multifamily assets in major metro areas or higher barrier-to-entry markets.
  • Identify where the assets are under-managed or undercapitalized, presenting opportunities for renovation and repositioning to unlock value.

ASSET MANAGEMENT

  • Rebrand properties with PRG’s proprietary Alvista Communities brand, which leads to enhanced community satisfaction, thus supporting stable cash flows.
  • Operate with a quantitative mindset, using realtime dashboards to monitor property-level KPIs such as rent roll growth, leasing velocity, lease trade outs, operating expense ratios, and turnover costs.
  • Frequent benchmarking against market comps allows us to identify underperformance early and implement corrective measures before they impact NOI.

Advantages of Multifamily Acquisitions

Large Scale Opportunity

The occupied apartment rental market in the US consists of over 24 million units representing over $6 trillion of market value as of 2021.

Advantages of Multifamily Acquisitions

Low Correlation

Over long periods of time, real estate tends to be uncorrelated to stocks, thus adding an element of diversification.

Advantages of Multifamily Acquisitions

Inflation Hedge

Over the past ˜46 years, multifamily performance has generally been a hedge against inflation. We believe that multifamily offers some of the best protection from inflation among the major property types and multifamily returns have exceeded inflation in 22 of the past 23 inflation periods.

Advantages of Multifamily Acquisitions

Demographics

Demographic shifts are fueling long-term apartment demand, as millennials and baby boomers both enter notable renting ages and have been renting in larger numbers. While Gen Z is only age 10-25, over 76% of households under 25 are renters, and the estimated proportion of Gen Z among the total renter population is expected to increase from 18% in 2020 to 44% in 2030.

Advantages of Multifamily Acquisitions

Large Scale Opportunity

The occupied apartment rental market in the US consists of over 24 million units representing over $6 trillion of market value as of 2021.

Advantages of Multifamily Acquisitions

Low Correlation

Over long periods of time, real estate tends to be uncorrelated to stocks, thus adding an element of diversification.

Advantages of Multifamily Acquisitions

Inflation Hedge

Over the past ˜46 years, multifamily performance has generally been a hedge against inflation. We believe that multifamily offers some of the best protection from inflation among the major property types and multifamily returns have exceeded inflation in 22 of the past 23 inflation periods.

Advantages of Multifamily Acquisitions

Demographics

Demographic shifts are fueling long-term apartment demand, as millennials and baby boomers both enter notable renting ages and have been renting in larger numbers. While Gen Z is only age 10-25, over 76% of households under 25 are renters, and the estimated proportion of Gen Z among the total renter population is expected to increase from 18% in 2020 to 44% in 2030.