ICIC’s multifamily investment strategy targets under-performing multifamily properties in preferred locations where economic growth has and continues to be demonstrated. The area must have a compelling story regarding future growth and increased imporvement of market conditions.
This under-performance is usually due to diferred maintenance and/or poor property management.
We research the comparable properties in the immediate area and utilize that information to determine the condition amenities, rents and occupancy required to arrive at “average”. We base our projections on the “average” without factoring in the added value that the compelling story may produce.
We have the expertise to quickly determine the cost of rehabilitation as well as the time it takes to accomplish completion. We then produce a detailed proforma to determine the desirability of the project. When a viable property is under contract, a very detailed due diligence process begins in order to ensure success without undesirable surprises. If everything is favorable, ICIC will then acquire, rehabilitate, increase rents, occupancies and prove stability. The property is then either refinanced or sold to achieve our investors’ goals.
I.C.I.C. purchases apartment buildings that are under-performing in their sub-market and adds value through rehabilitation and expert property management. Once the process is complete and the property can demonstrate stability, the asset is either refinanced and held, or sold.
Our primary target market is Real Estate Investment Trusts (REITS). REITS are in the business of acquiring assets that perform well and are in good condition. They are generally not in the business of rehabilitation, however they are in the business of acquiring well managed, rehabilitated assets if they are in preferred locations. ICIC always has the REITS criteria in mind when acquiring an asset.
With investment properties situated in key areas of the US, ICIC utilizes local networks for a continuously supervised and hands-on approach. Invictus Commercial Asset Management Corp. (the management division of Invictus Commercial Investment Corp.) over-sees all areas in the management of building and property to minimize costs and maximize value-added potential.
I.C.I.C. has developed a network of professionals within targeted areas, providing local area expertise and property management including:
- Real Estate Brokers
- Mortgage Brokers/Bankers
- Property Managers
- Contractors / Sub-contractors
No one is an expert in all markets. Many commercial real estate investment firms hire a large staff in a costly attempt to integrate the local knowledge and expertise required to manage distressed properties.
The ICIC team takes a safer, more efficient approach. Utilizing local networks allows ICIC to keep operational costs low.
Our approach is based on decades of experience in management and development totaling billions of dollars.