Santa Monica, CA, February 1, 2011 – Santa Monica-based real estate investment firm, Strategic Realty Capital, LLC (SRC), announces the acquisition of nine multifamily apartment properties in 2010. SRC is a proven value-add investor in the multifamily/residential rental properties market and now owns over 3,200 units nationwide, concentrating on markets in the Southwest, Midwest, and Southeast regions of the United States.
The new acquisitions were primarily distressed, Lender-owned, receivership sale and short sale properties. SRC has the vision and capital to rediscover value and operational efficiencies through their superior investment selection process and hands-on asset management capabilities. Apartments have a long track record of having excellent risk-adjusted investment returns and the sector has proven to be most resilient during economic downturns, delivering superior returns during both growth and recessionary periods.
Co-founder Charles Hill commented on the success of 2010 and future outlook saying, "Many investors failed to pull the trigger over the past 12 months, expecting a deeply discounted apartment property market. The single family market deterioration favors multifamily investment and the odds of further erosion in our sector have diminished." SRC acknowledges that economic and market risks remain and must be assessed, but are optimistic about attractive opportunities in 2011. "Ultimately it comes down to aggressive asset management to maximize revenue and control expenses," says other Co-founder Eddie Lorin. He adds, "we want the keys to the real estate in some cases it will be after the debt traders have made their trades and then it always comes down to operations." SRC is committed to its business plan of selectively increasing the size of its portfolio over the next two years.
Strategic Realty Capital, LLC
SRC is an opportunistic real estate investment management and finance company focused on the acquisition of value-add multifamily assets and fractured condominium and residential subdivision projects. The SRC team utilizes its wealth of experience and expertise in real estate acquisitions, asset management, dispositions and structured finance to take advantage of short and long term shifts in the real estate and capital markets to create value for its investors. The SRC team has 60+ years of combined experience in real estate acquisitions, asset management, dispositions and structured finance. SRC will consider single assets, portfolios, and lease-up opportunities. www.strategicrealtycapital.com
Contact Details:
Strategic Realty Capital
1411 5th St., Suite 406, Santa Monica, CA 90401
Greg Salyers, Director of Acquisitions, Western Division
(310) 566-1320 x203
gsalyers@strategicrealtycapital.com
Andy Park, Director of Acquisitions, Eastern Division
(310) 566-1320 x212
apark@strategicrealtycapital.com