Workforce housing has outperformed the overall multifamily market in recent years with relatively low vacancy rates and above-average rent growth. The healthy market performance has attracted significant investor interest in these rental communities that are affordable for low- to median-income families.
The Case For Workforce Housing
The process starts with sourcing a deal. We have an extensive network of brokers, lawyers, and agents that seek properties which meet our criteria. In the markets we target, we will complete acquisitions from 75-500 units per property that are from low to high occupancy, and from low to high level of construction and property condition.
We find and negotiate a deal, then follow through with due diligence. Simultaneously, our team begins a thorough loan and equity process to select our financial partners, however we have the in-house team and necessary capital to fully complete all acquisitions and financing through project close.
Our goal is to own $1B of multi-family, real estate properties throughout the southeastern United States. Sureste will continue being recognized for providing superior value in affordable and workforce housing, while concurrently providing excellent returns.
After project close, we immediately start construction, begin the management process, undergo tenant evaluation, and review the current turnover process. After 12-18 months the property will be stabilized and refinancing can begin.
Dunross Capital will own and operate great apartment communities that sets the new standard for “best in class” for the workforce housing, affordable and retiree market.