Investment Criteria

This Is Investing with Impact.

Greenwood Beach Partners takes a strategic approach to selecting investments. For us, it’s not about the number of transactions — it’s about the quality, return, and results. Read on to learn more about the property, market, and return criteria we apply to every decision we make.

Property Criteria

We prefer deals that can achieve their financial results with management improvements, repositioning, or light value add.

  • B+ asset quality or better
  • Built in 1990 or later, or major rehab of the building and mechanical systems since 1990; we particularly like historic rehab properties
  • Modern conveniences preferred, such as full kitchens with dishwashers, individual HVAC, and in-unit washer and dryer and/or washer and dryer connections
  • 25+ units, preferable over 100 units
  • Amenities such as bike storage areas, dog parks, exercise rooms, lounges, workspaces, and more; alternatively, we look for space to develop these amenities
  • Parking and public transportation, including locations close to public transit and/or ample private parking available to residents
  • Tenant accessibility is important so we look for properties with adequate parking and/or access to public transportation

Target Markets

Our target markets are within a five-hour drive from the sponsors’ headquarters, allowing us to execute our hands-on asset management strategy properly. Our sponsors have already invested in many of our target markets and understand their dynamics. As investment opportunities arise in the Midwest, we can use our existing network of professionals to make well-informed investment decisions at a competitive pace. Target markets include:

  • Chicago, Illinois
  • Milwaukee, Wisconsin
  • Grand Rapids, Michigan
  • Indianapolis, Indiana

Additional Markets

We love our target markets, but we are opportunistic buyers and will look at deals in other markets if we think they make sense. Below are some of the other markets we like and will consider.

  • Des Moines, Iowa
  • Omaha, Nebraska
  • Cincinnati, Ohio
  • Columbus, Ohio
  • Lexington, Kentucky
  • Birmingham, Alabama
  • St. Louis, Missouri
  • Smoky Mountain Corridor from Chattanooga, TN to Greenville, SC

Target Return Criteria

  • 8%

    preferred cash on cash return

  • 9%+

    average cash on cash return

  • 14%+

    IRR

  • 2X+

    equity multiple

  • 7 to 15

    year projected hold period

Download our investment deck