Top-Down Process

Our top-down process is research-driven and focused on building a high risk-return performing portfolio. It synthesizes top industry research into a decision making process to integrate macroeconomic, market and property type research into a cohesive process that drives consistent high caliber risk adjusted returns.

Our proprietary process focuses on the construction of a high performing overall portfolio. The investment decision making hierarchy mirrors the order of magnitude that each factor contributes to portfolio level performance.

Our investment process, though analytical, relies more on our years of real estate experience and understanding of the local markets, property types and risks than formulaic models. Our decision making applies a back to basics approach to fundamentals, risks and traditional tenets of diversification.

Our rigorous intellectual ping-pong and qualitative application of top research drives local market and sub-market selection. We invest in markets with superior supply/demand characteristics. Supply is the category killer. We look for markets with supply constraints and barriers to entry.

We examine market demographics, changing dynamics and historical performance of these markets. Our preference is for markets with strong growing demand, dynamic diverse population base, diversified economic drivers and higher population and job growth.

This leads us to invest in major markets, underserved urban markets and selective secondary markets. Within each target market, we target only property types and non-traditional niche opportunities that are best positioned and have the greatest potential for risk adjusted outperformance during our investment time horizon.