Investment Strategy

Texas

Fifty Mission Capital continues to pursue properties in Texas, especially in Dallas, Austin and San Antonio. There is significant economic, job and population growth across these regions. There are big industries moving into these areas including technology, health care, finance and insurance.

Arizona

Fifty Mission Capital closed on two properties in Midtown Phoenix in the last half of 2019. We continue to pursue properties in the metropolitan Phoenix area due to many factions including economic, job and population growth. There is over $1 billion of investment in the midtown Phoenix area and there are over 250 people moving to Arizona on a daily basis. We have seen increase in rent growth and demand for multifamily housing.

Acquisition criteria

  •         Property type – multifamily, garden style communities
  •         Asset class – B+ to C+ (primary focus on Class B assets)
  •         Location quality – A+ to C+
  •         Property size –  50-200 units
  •         Property Vintage –  1975 and newer
  • Use the scorecard to measure how each property’s performance in 95 separate subcategories
  • Next, add up each general category and give the property an overall score
  • Determine what areas within the apartment community need the most work and how the property will produce the highest return on investment
  • Each property is scored before the Drive to 95 Program and scored after the Drive to 95 Program has been implemented to show how the overall property condition has improved and to achieve the three key metrics, 95% occupancy, 95% market rate rent, and 95% payments without incident