Updated Value-Add Strategies to Rethink the Buy-Rehab-Sell Game
With the buy-and-upgrade strategy now in grave jeopardy due to recent rent laws, one of the most important business models in the multifamily industry has been upended, at least in New York. Passing upgrade costs on to future tenants and vacancy decontrol are no longer viable methods to create value, but that doesn’t mean there aren’t alternative strategies and locations where multifamily value-add rehab still makes sense. How are top value add investors and operators changing their game in light of these conditions?
- How are buyers finding and funding new deals in and around the Tri-State area today?
- Where outside of the New York area are investors now actively acquiring?
- In what ways has the risk profile of acquiring older properties changed?
- Will we see a wave of distressed selling and, if so, how big will it be?
- How has the crisis changed the rehab business plan? Are social amenities now less valued?
- How can energy incentives and programs be used to reduce costs and improve NOI?
- What rehab projects still make sense even if you cannot immediately pass on the cost to renters?
- Mark Aloia, Member, Rosenberg & Estis
- Rick Gropper, Principal, Camber Property Group
- Tristan Last, Managing Director, Arch Companies
- Martin Nussbaum, Managing Principal, Slate Property Group
- James Simmons III, CEO & Founding Partner, Asland Capital Partners
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