Acquisitions
The acquisitions team at Guardian excels in finding acquisition targets that can be upgraded, repositioned and re-marketed to provide solid, predictable returns for investors. The success of these efforts is built on nearly four decades of Guardian’s experience in multifamily management and ownership, including a solid record of success with the acquisition, finance, rehabilitation and disposition of market rate multifamily properties. Guardian’s acquisitions activity also delivers both institutional and private investors a continuing opportunity to realize strong returns on their investments.
Target acquisitions include those with a ‘value-add’ opportunity which can be captured through rehabilitation, repositioning, and management efficiencies. Guardian maintains direct oversight of the rehabilitation process so it can retain the agility needed to secure optimum results from every dollar spent on property improvements. Guardian’s interest in optimal results is enhanced through its role as an equity partner and asset advisor, a factor that ensures its investors of the company’s active involvement and guidance during the hold period and through final disposition.
INVESTMENT CRITERIA
Guardian Management’s criteria for investments are constantly updated based on the dynamic nature of the markets. Each criterion is adjusted on the basis of demographic shifts in the market, population growth, employment cycles, housing fundamentals, barriers to entry, proximity to retail and commercial centers, accessibility to transportation networks, and underlying market economics.
PHYSICAL CHARACTERISTICS
Guardian acquisition experts are particularly skilled at locating properties that exhibit best-in-class qualities relative to comparables. It requires special talent to identify properties that can be renovated and repositioned in their markets, and Guardian’s team has demonstrated a consistent ability to locate these hard-to-find deals. Typically, acquisitions are newer than 1985, contain more than 100 units and feature garden-style construction in brick or wood. However, the company has succeeded with vintage properties, including urban mid- and high-rises and historically significant structures.
OPERATING CAPACITY
Guardian Management seeks to achieve net income growth throughout the ownership period. The company develops a strategy for each asset that emphasizes conservative expense management, keeps rents highly competitive in the market and adds income sources whenever possible. Guardian also practices aggressive and strategic long-term asset management and intelligent capital investments in properties ensures outstanding results.
LEVERAGE
Guardian Management finances all properties with a mix of debt and equity appropriate to the asset type. The level of leverage used is determined by the purpose of the project. Anticipated leverage will range from 60 to 80 percent of all-in cost (acquisitions, renovation, financing, etc.).
MARKET INFORMATION
Guardian enjoys a strong presence in the western United States. When seeking new properties for acquisition, we generally prefer first or second tier cities in the west.