Investment strategies built on decades of experience
Affordable Housing / LIHTC
ERI has multiple decades of experience valuing, transacting in, and partnering with managers of affordable assets in heavily government-regulated environments. Typically, ERI acquires a non-controlling interest while bringing knowledge and contacts to partners.
INVESTMENTS
Sponsor level capital
Limited partnership interests
General partnership interests
Property level capital
Value-Add Industrial
ERI has been pursuing smaller, Value-Add Industrial transactions since 2011. With experienced sponsors, we target class B and class C assets in supply constrained markets. We look for opportunities where we can buy below replacement cost, and where we identify a spread between the projected stabilized yield on cost and cap rate, thereby providing a margin of safety.
INVESTMENTS
Sponsor level capital
Property level capital
Workforce Housing
ERI defines Workforce Housing as serving tenants earning 60% to 120% of Area Median Income and invests in markets irrespective of asset vintage or execution strategy. These markets can be often avoided by conventional asset owners due to complexity, oversight and rent restrictions, and our experience and knowledge helps allow us to take advantage of the value in new programs created by municipalities. ERI has a deep network of operating partners that we leverage across the U.S. to invest as a limited partner or through the general partner.
INVESTMENTS
Sponsor level capital
Property level capital
Special Situations
ERI also makes certain investments in idiosyncratic opportunities with experienced niche sponsors, and evaluates opportunities created by unique properties and unusual market conditions. Value can be found in markets that are highly fragmented with many “mom and pop” operators and/or where there has been a recent market dislocation. These opportunities are typically sourced through experienced sponsors with ERI existing relationships or through internal research and development into these niche sectors.
INVESTMENTS
Joint venture equity
Discounted note purchases
Platform investments
Highly selective development
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