Acquisitions Criteria
Our site selection and property acquisition team
TOPAZ, and all our affiliate companies, are always looking to acquire properties that fit into our investment strategy and wheelhouse. TOPAZ’s focus is primarily on income and non-income producing Class A & B multifamily properties/communities in primary and secondary markets across the State of Florida with strong job and population growth.
Most of our properties are secured with competitive financing however, there have been circumstances where specialty financing is provided or partnership shares are transferred in lieu of mortgage with a strategic financing partner.
Offers a keen ability to identify and reposition transitional assets.
Simplifies the development process that is often subject to complicated and challenging architectural, financial, and legal barriers.
Effectively manages the many processes from investment selection and deal structuring to planning and zoning compliance to successful development and completion of projects.
Ensures long-term viability and profitability for every project selected and acquired.
Aims to maximize returns, with their extensive and unrivalled expertise in land selection, specifically focusing on areas of recent high growth.
Offers a keen ability to identify and reposition transitional assets. Constantly seeks multi-family and commercial development and repositioning opportunities, with or without permits and project plan approvals.
Site Selection Criteria
We’ve never failed to close a contracted deal—and our large roster of repeat equity investors, servicers, and lenders enables us to move quickly on each transaction.
Property Types
Strategy
Stable cash-flowing with upside, opportunistic multi-familydevelopment, repositioning andvalue-added transactions
Deal Size
$20 to $150 million total project costs, but smaller and larger transactions considered
Format
Acquisitions of 100% fee simpleand majority fractured interest,partnership buyouts, and joint ventures on a highly selective basis
Other
Workouts, foreclosures, partnership buyouts, sub-performing, and non-performing considered
Investment Criteria
Target Markets
• All MSAs across the State of Florida with 500K+ populations
Deal size and format
• $25M to $150M total project costs, but smaller and larger transactions considered• Acquistions of 100% fee simple and majority fractured interest, membership interest purchase agreements, partnership buyouts, recapitalizations, and joint ventures on a highly selective basis
VINTAGE & STRATEGIES
• 1985 or Newer Product (varying from value-add to turn-key to lease-up to fully stabilized plays)• New Construction (low basis and below replacement cost cash flow plays in the best submarkets of each Florida Metro)• Bulk Condominium and Majority Fractured Sales• Non-Performing Note Acquisitions and Financing