Saratoga Capital Partners targets value-add properties in markets with strong employment and population growth profiles. All investments are evaluated based on deal-specific opportunities to improve asset value.
General Investment Criteria
Asset Type
Class A, B, and C Multifamily, typical focus is on garden-style properties
Markets
Virginia, North Carolina, South Carolina, Tennessee, Georgia, Kentucky, Texas, Florida and the Las Vegas metro area
Transaction Size
Opportunistic Middle Market, typical capitalization ranges from $5MM to $45MM
Business Plan
Acquire existing assets with a path to income growth through any combination of the following key opportunities. Ideal acquisitions generate in-place cash flow with an ability to create additional net income.
Capital Improvement
Upgrade unit interiors, amenities, and curb appeal as well as cure deferred maintenance to increase rents and improve tenancy demographics
Underperforming Assets
Bring below-market rent and occupancy in line with market rates
Prior Ownership
Acquire properties with poorly capitalized ownership and/or poor existing management personnel and practices
Operational Improvements
Implement billing and expense efficiencies to increase net cash flow
Sub-Market Drivers
Benefit from organic rent growth based on property age, location, and visibility
Deal Structure
Utilize competitive financing structures to ensure property has access to capital for the life of the investment.
Deal Sourcing
Actively pursue broker-marketed opportunities as well as direct asset purchases. Review each opportunity up front to ensure reliable bidding and timely responses.
Closing Process
Saratoga has built a strong reputation among sellers and brokers for reliable and smooth closings. This is demonstrated by numerous transactions with the same brokers and purchases from repeat sellers.