An experienced and capable equity operator
NPRC invests in majority or shared control common equity and provides flexible financing solutions tailored to the needs of commercial real estate owners and operators. NPRC has developed its strong brand over the course of 110 property investments since 2012, representing $3.9B in initial property value, including 83 multifamily properties and over 32,000 multifamily units nationwide.
NPRC aims to achieve above market total returns by:
- Utilizing diverse deal sourcing channels;
- Adhering to strict property selection criteria;
- Implementing highly focused value-add business plans tailored to the specific opportunities of each investment;
- Optimizing leverage on each property; and
- Enhancing performance through the operational expertise of its in-house asset and construction management teams.
Primary: Multifamily, Student Housing, Senior Housing, and Self-Storage.
Secondary: Retail, Industrial, IOS, Medical Office.
- Class A and B properties located in markets with strong wage growth, attractive macro employment drivers and limited supply pipeline
- Assets priced favorably compared to current replacement (construction) costs
- Off-market recapitalization opportunities, including loan assumptions that provide below-market financing
- Special situations including distressed operations and capital structures
- Value-add opportunities through unit upgrades, operational and technology efficiencies, occupancy improvements, and enhanced amenity offerings
- Moderate leverage averaging 70%
Deal Criteria
Target Markets
Nationwide (Primary, Secondary and select Tertiary U.S. MSAs)
Lifecycle
Stabilized, Value-Add, Transitional, Opportunistic
Time to Close
30-60 Days
Recourse
Non-Recourse (Standard Carve-Outs)