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Contacts
FOR PROPERTY ACQUISITIONS
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Graham Chernoff
Vice President, Acquisitions
JB Matteson, Inc.
Tel. 650-802-1800 ext. 131
Fax 650-802-1811
gchernoff@mattesonrealty.com
John R. Bellack
President
JB Matteson, Inc.
Tel. 650-802-1800 ext. 133
Fax 650-802-1811
jbellack@mattesonrealty.com |
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Seattle, Portland, San Francisco Bay Area, Sacramento, Phoenix, Las Vegas, Reno, Los Angeles, Orange County, San Diego, Denver, and the state of Washington |
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FOR DEVELOPMENT OPPORTUNITIES
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John Baer
Senior Vice President, Development
Matteson Realty Services, Inc.
Tel. 650-802-1800 ext. 108
Fax 650-802-1811
jbaer@mattesonrealty.com |
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Criteria
• Property Types: office, apartments, retail, and mixed-use
• Land development sites suitable for housing/mixed use or retail
• Markets: Major cities in the Mountain and West Coast markets
• Size: $20 to $100 million
• Prefer infill locations in supply constrained markets
Investment Strategies
APARTMENTS
Buy under-managed properties and improve operating performance
Target low basis acquisitions of under-rented properties
Renovate and reposition properties to raise rents
Improve marketing to compress concessions
Add value through entitlements (e.g. map for condo, add density)
Add additional buildings
Increase ancillary revenue (parking, laundry, cable)
Develop apartments at a premium to market returns
Buy in-place rent structures below replacement cost in recovering markets
OFFICE/COMMERCIAL
Buy and lease empty buildings
Target low basis acquisitions of under-rented properties
Renovate and reposition properties to raise rents and speed absorption
Add value through entitlements
Add additional rentable area
Generate additional revenue (signage, parking, easements)
Sell out-parcels of underutilized land
Buy portfolios that could be re-sold to users or individual investors
Develop buildings at a premium to market returns
Capitalize on pricing inefficiencies, such as buy on a per square foot basis and sell on a cap rate basis
Buy in-place rent structures below replacement cost and assume rollover risk
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