Core+
Target Return: 10-12% IRR — Target Hold Period: 5-10 Years
Delshah’s Core+ strategy is focused on acquiring pre-lease up or stabilized but undermanaged assets to capitalize on historically high vacancy or rent growth potential with minimal capital investment. Select properties that are recently constructed or repositioned by developers will require active asset management in order to unlock their potential.
We apply best-in-class property management to implement net operating income growth by maximizing rental rates and ancillary revenue opportunities with rigorous operational controls to manage and reduce expenses.
We apply best-in-class property management to implement net operating income growth by maximizing rental rates and ancillary revenue opportunities with rigorous operational controls to manage and reduce expenses.
Value-Add
Target Return: 14-16% IRR — Target Hold Period: 2-5 Years
Our Value-Add strategy is focused on acquiring under-managed well-located assets, combined with an active asset management approach and focused capital improvement plan. Unlike our Core+ strategy, value-add opportunities are characterized by higher vacancy, little to no intermediate term cash flow and a significant capital investment in physical property improvements and operations.
We strategically deploy capital to improve rental units, unit mix, streetscapes, common areas and amenities, among other spaces, in order to achieve proven increases in rental rates and net operating income.
We strategically deploy capital to improve rental units, unit mix, streetscapes, common areas and amenities, among other spaces, in order to achieve proven increases in rental rates and net operating income.
Opportunistic
Target Return: 18-20% IRR — Target Hold Period: 1-5 Years
Delshah’s Opportunistic strategy is focused on delivering outsized returns through investments in assets or debt instruments with a significant redevelopment or litigation component. Opportunistic investments are characterized by negative to little in-place cash flow and a longer lead times to stabilization or realization than Core+ and Value-Add investments.
These opportunities include ground up development, heavy value-add repositionings and investments in non-performing loans with a high degree of third party involvement and complexity. Opportunistic investments tend to require significant rehabilitation or management in order to realize their potential.
We apply best-in-class property management to implement net operating income growth by maximizing rental rates and ancillary revenue opportunities with rigorous operational controls to manage and reduce expenses.
These opportunities include ground up development, heavy value-add repositionings and investments in non-performing loans with a high degree of third party involvement and complexity. Opportunistic investments tend to require significant rehabilitation or management in order to realize their potential.
We apply best-in-class property management to implement net operating income growth by maximizing rental rates and ancillary revenue opportunities with rigorous operational controls to manage and reduce expenses.
