In search of 100+ unit apartment building

[Brice Naylor]

In search of apartment building.  Initial criteria:

- Buyer group has acquired 5 developments in the past 2 years, totaling around 4,000 units and $118 million
- Must be 100 units or greater
- Must be off-market

- Looking for property that gives great opportunity for value-add through renovation.  Focusing on Class B and C areas.  Geography does not matter quite as much, but looking for MSA of 400k+
- Must be built on or after 1980 (lead-based paint issues, etc)

Have other criteria, but these are the key issues.