Trion Properties, a private equity real estate firm based in West Hollywood, California and Miami, Florida specializing in value-add multifamily investments, has announced the launch of Trion Multifamily Opportunity Fund III, LLC, its third investment fund vehicle.
LOS ANGELES, Calif. /Mortgage and Finance News/ — Trion Properties, a private equity real estate firm based in West Hollywood, California and Miami, Florida specializing in value-add multifamily investments, has announced the launch of Trion Multifamily Opportunity Fund III, LLC, its third investment fund vehicle.
The fund, which will target $75 million in equity to deliver $175-200 million in buying power, will primarily invest in the acquisition, improvement, and repositioning of undervalued and opportunistic multifamily assets in Western and Southeastern U.S. markets. Fund III anticipates acquiring 8-12 properties over its investment period.
The launch of this fund comes on the heels of the closing of the firm’s second fund, which has 215 diverse investors, including accredited high net worth investors, RIAs, and family offices, and is allocated across value-add and opportunistic multifamily investments within growing submarkets demonstrating strong growth fundamentals, according to Max Sharkansky, Managing Partner at Trion Properties.
“With our first two funds, we executed an investment strategy that proved quite resilient, which allowed us to take advantage of several significant opportunities during both incredibly strong and uncertain economic times,” says Sharkansky. “We are able to leverage our long-standing industry relationships to acquire these opportunities primarily through off-market transactions. This enabled us to build a strong portfolio of communities, acquired for highly competitive prices, which were positioned to provide strong returns to our investors.”
To date, the firm has acquired 64 properties and has completed more than $1 billion in transactions.
Mitch Paskover, Managing Partner at Trion Properties adds, “Trion’s sole focus on our proven strategy of acquiring and repositioning undervalued multifamily assets in key markets, combined with our vertically integrated property management platform, has led to demonstrable success. The average investor annualized return on our properties exceeds 30% annually, and all properties purchased with Funds I and II have either met or exceeded projections or are on pace to do so. We will continue to implement this strategy on assets acquired with Fund III on an expanded scale.”
Fund III is targeting investor-level annualized returns of 13% to 15% over a 6-8-year period, with early “seed investors” receiving preferred economics. As with the firm’s first two funds, the firm plans to drive value through heavy renovations, re-branding and a hands-on management approach.
“We offer a competitive advantage to investors by having in-house acquisition, project management, property management, debt sourcing, and construction teams,” says Sharkansky. “This combination makes us unique and specialized in the markets we target, allowing us to add value where other sponsors cannot.”
Selecting assets with longevity and endurance is essential to the firm’s acquisition strategy, adds Paskover.
“We have established a foothold in several Western markets, including becoming the most active buyer in the Portland area based on number of transactions, and are eager to continue applying this strategy in those markets and others demonstrating strong growth fundamentals – including the Southeast region, where we recently established a second office,” says Paskover.
Trion’s current multifamily portfolio encompasses over 1,250 units across Los Angeles, San Diego, the Bay Area, Colorado, and the greater Portland Area. In addition to the Southeast, the firm is also seeking opportunities to acquire in Salt Lake City and Seattle, notes Sharkansky.
Based on solid fundamentals, continued demand and shortage of supply in multifamily housing in these markets, Trion is anticipating strong performance for its investment platform over the long term.
About Trion Properties
Founded in 2005 and headquartered in Los Angeles, Trion Properties is a private equity real estate firm that invests in value-add multifamily throughout the west coast. Trion has completed more than $1 billion in transactions, with a portfolio of over $550 million in assets, generating an average internal rate of return in excess of 30 percent. With its fully built-out operator platform, Trion has repositioned and stabilized undervalued assets, leveraging its expertise in real estate finance and renovation of multifamily properties to drive returns for its investors.
Since its inception, Trion has acquired the fee interest-or in certain instances the debt secured by the fee interest-of over 3,550 multifamily units. To date, Trion has successfully repositioned and resold over 1,750 units and over 200,430 square feet of commercial real estate space.
The principals of Trion Properties are Max Sharkansky and Mitch Paskover, two real estate professionals with over 30 years of combined experience in finance, acquisitions, management and redevelopment. Additional information is available at https://trionproperties.com/.
Learn More: https://trionproperties.com/
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