Investment Strategy

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Development Criteria

McCann seeks to acquire strategically located land to develop multifamily communities in select markets, with particular emphasis on Houston, Dallas/Fort Worth, Austin, Orlando, Raleigh/Durham, Charlotte, and Richmond.

Category:

Well located land in strong submarkets including infill locations for development of multifamily residential communities.

Size:

Minimum 250 units, preferably 350+ units; 3-story garden walk-up product

Terms:

Typically, all cash, but will consider seller financing.

Submittal Information:

  • Location map and area description
  • Plat or parcel plan, current survey and topo
  • Zoning and entitlement status
  • Any offsite or other extraordinary development costs
  • Aerial photograph of site and vicinity
  • Current tax bill, market data (include sales and rent comps)
  • Cash Proffers

Acquisition Criteria

McCann seeks to acquire well-located multifamily assets in select markets with particular emphasis on the Washington DC, Northern Virginia, Virginia, North Carolina, South Carolina, Atlanta, Nashville, Florida, Dallas/Fort Worth, Houston, and Austin markets. The desired investment includes Class A, B quality in B+ or better locations. We will consider garden, mid-rise and high-rise communities, as well as assets that can benefit from renovation and repositioning.

Category:

Class A or B communities. Rehab and repositioning properties considered. Will consider conversion of a building not currently operating as residential, e.g., warehouse to multifamily residential and/or mixed use and TOD assets.

Size:

200 units or larger.

Terms:

Typically, all cash, but will consider assumption of existing financing or seller financing.

Submittal Information:

  • Location map and area description
  • Complete property description
  • Current tax bill
  • Current and past three months rent rolls (including concessions and delinquencies)
  • Detailed market data (include sales and rent comps)
  • Aerial photograph of site and vicinity
  • Color photographs
  • Three years operating statements plus current YTD
  • Terms of financing (if assumable) including any prepayment provisions
  • Capital improvements listing for the last five years