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Maximizing Returns through Proven Strategies
Legacy REI Group specializes in acquiring and managing Class B and C multifamily assets in submarkets with robust economic fundamentals including strong rent and occupancy growth. We pursue submarkets that are rich in job growth, economic development and have a high demand for housing. And while new development makes Class A apartment communities available to some, the Class B and C assets are no longer being developed therefore representing the negative supply which workforce residents are typically looking for.
Optimizing the Operational Performance of Our Properties
Creating value through intelligent renovations is a key strategy when acquiring Class B and C assets. We create new amenities like resort-style swimming pools, fitness centers and pet spas which are not typically found in this asset class. We also strategically invest in the infrastructure of our communities; like the roofs, air conditioning, plumbing, and hot water. This helps ensure our resident retention rate remains above the industry norm. By fixing the major issues up-front, it also helps reduce the repair & maintenance expenses. Lower turn costs are achieved by using materials like semi-gloss paint, vinyl plank flooring, single valve shower faucets, low flow toilets and granite countertops. Each of these components contribute to reducing our interior turn costs while ensuring each home continually meets our quality expectations.
Focused on Multifamily Investment Opportunities
Everyone is willing to pay a little more for a better product and better service. The same is true for our residents when it comes to apartment living. By creating real value in our communities and homes for our residents, we can increase the asset’s market value through increased income and reduced operating expenses. This forced appreciation combined with an appreciating submarket oftens leads to strong cash-on-cash distributions and cash out refinances while ensuring a multitude of exit strategies when the time is right.