First Premier Equity Announces Acquisition Criteria For Multi-Family Apartment Complexes
First Premier Equity, LLC, a commercial real estate acquisitions and operating company, today announced its acquisition criteria strategy for existing, pre-construction and lease-up multi-family apartment complexes. FPE’s web site is www.1premierequity.com.
MIAMI - Feb. 3, 2015 - PRLog -- First Premier Equity, LLC (“FPE” or “Company”), a commercial real estate acquisitions and operating company, today announced its acquisition criteria strategy for existing, pre-construction and lease-up multi-family apartment complexes. FPE’s web site is www.1premierequity.com.
The Company is primarily focusing on acquisition targets in secondary markets, such as: Atlanta, Charlotte, Dallas, Jacksonville, Las Vegas, Memphis, Nashville, Orlando, Phoenix, San Antonio, San Diego, St. Louis and Tampa, to name a few. The purchase price range is between $5,000,000 and $50,000,000, and this range may increase for portfolio acquisition opportunities. All properties being targeted must have over 100 units and significant value add potential.
CEO of First Premier Equity, Mr. Courtney Rush, said, “FPE is very pleased to be successfully executing our plan to acquire multi-family apartment complexes nationwide. As we’ve previously announced, we are actively searching for new acquisition targets and we are expecting significant expansion in 2015.” Mr. Rush added, “We are very flexible with our acquisition terms, and we are prepared to enter into creative deal structures. This includes all cash, assuming existing debt, joint venture financing and alternate financing arrangements. The Company intends to acquire assets directly from owners, developers, real estate investment trusts or financial institutions.”
For existing properties already built and operating as an apartment-rental business, FPE is targeting Class B and Class C properties with a cap rate of 8% or more. For pre-construction and lease-up properties, FPE is targeting Class A and Class AA properties. Cap rates on pre-construction and lease-up properties will be evaluated on a case-by-case basis and valued based on the market.
About First Premier Equity
First Premier Equity LLC (“FPE” or “Company”) is a commercial real estate acquisition and operating company headquartered in Miami, Florida. The Company focuses on growth through the acquisition of high quality real estate properties that have an already established and profitable apartment-rental operating business. First Premier Equity continues to operate the apartment-rental business after it completes an acquisition.
The Company is currently in the process of acquiring properties throughout the United States. First Premier Equity’s vision is to build value for its residents and employees by providing a safe and healthy environment in the workplace and at all of its apartment communities. FPE’s web site is www.1premierequity.com.