Cohen-Esrey Apartment Investors, LLC (CEAI) acquires existing apartment properties throughout the United States and utilizes the capabilities of its property management affiliate, Cohen-Esrey Communities, LLC, to quickly evaluate and perform due diligence on potential acquisitions. Its construction affiliate, Construction Technologies, LLC, is able to evaluate any maintenance or construction issues that may be present. Acquisition opportunities are sourced from local brokers.
CEAI pursues apartment communities of 75-units and larger in stable metropolitan and non-metropolitan locations covering a 30-state region. Its primary focus is on B and C+ quality projects that present the opportunity for the Cohen-Esrey companies to leverage their expertise to add value. Strategies for value creation include a variety of techniques, including the following:
- Need for physical improvements or additional amenities to drive increases in occupancy and rental rates.
- Reduction of operating expenses through best-in-class management techniques.
- Change of use.
- Resolving financing difficulties through the creative utilization of debt and equity.
- Development of adjoining land or the sale of a portion of an asset.
Equity is paired with HUD 221(d)4, HUD 223(f), FNMA and Freddie Mac loan programs. Investment objectives target current cash flow at favorable rates of return and appreciation in value over the holding period.