Alvista Portofino – Upland, CA
Strategy
PRG's strategy is focused primarily on the acquisition and development of multifamily rental properties, the majority of which are in higher barrier-to-entry markets.
The firm's focus is on middle-market housing and opportunities to improve net operating income through value-added renovation, repositioning, and creative cost savings programs.
PRG targets the following property attributes:
Class B Multifamily
We seek situations in which we can implement physical and operational improvements to raise the market perception of a property.
Extensive rehabilitation / New construction
Our deep expertise in design, development and construction management means we are able to handle assets requiring significant degrees of building improvement.
Regions we know well
Relationships with brokers and knowledge of demographic nuances in our target geographies create better opportunities on the buy.
High-growth metro areas
We believe strong job growth fundamentals are the single best indicator of market health, and so we look to invest where we see jobs driving population and rent growth.
Scale and amenities
Target assets must have sufficient scale to merit our focus, and we like situations in which we can roll out amenities (modern common areas, in-unit upgrades) that positively impact all residents of a property.
Affordable housing
PRG targets properties with expiring tax credits or development opportunities with subsidies.