Acquisitions

Mill Creek Residential is pursuing multifamily acquisitions in targeted markets across the United States. Our competitive advantage exists from a broad and deep reach into primary markets across the country supported by a seasoned team of acquisitions, development, construction, finance, and asset management associates in 16 offices. We possess demonstrated investment expertise in the acquisition of existing assets that have opportunity to improve through physical upgrades or operational improvements, transforming them into exceptional leading-edge properties. We target core markets that have been historically profitable in development, construction and acquisition endeavors and demonstrate above average population growth, strong employment characteristics, and consistent and sizeable institutional investment demand.

TARGET MARKETS

West Region

• Seattle, Washington
• Portland, Oregon
• Bay Area, California
• Los Angeles, California
• Orange County, California
• Denver, Colorado
• San Diego, California
• Las Vegas, Nevada
• Phoenix, Arizona

East Region

• Dallas/Ft. Worth, Texas
• Houston, Texas
• Austin, Texas
• Boston, Massachusetts
• New York/Long Island
• North Central New Jersey
• Washington/NoMa/MD
• Raleigh, North Carolina
• Atlanta, Georgia
• Orlando, Florida
• Tampa, Florida
• Fort Lauderdale/Miami, Florida
• Palm Beach County, Florida

CRITERIA

Mill Creek Residential is seeking multifamily acquisition opportunities with the following property and investment characteristics:

• Product Type: Garden, Mid-Rise and High-Rise
• Asset Class: A to B-
• Location Quality: A+ to B
• Targeted Investment Size: $10M or greater
• Property Size: 100 units or larger on single assets and portfolio transactions of all sizes
• Value Added Investments: Properties with upside potential through repositioning, reconversion, rehabilitation, construction completion, or redevelopment.
• Core-Plus Investments: Properties in unique locations with attractive valuations to actual replacement cost and that provide above-average sustainable yields and favorable long-term prospects.
• Opportunistic Investments: Special situations where capital constraints prevent the asset from reaching its full potential; the acquisition of whole loans will be considered as well as the recapitalization of “broken” investment partnerships.