INVESTMENTS
Our Portfolio has Outperformed Key Benchmarks Since Inception.
MMA targets equity investments in primarily multifamily and mixed-use value-add & opportunistic (VAO) projects in gateway and high-growth urban markets with compelling socio-economic drivers for real estate value creation.
MMA’s Realized Returns from VAO investments has outperformed the average Total Returns of the NAREIT Residential Index and Top-Quintile of U.S. PERE Funds.
Realized Investments
Past investments that have been fully exited.
1164 Kenmore Ave
Sponsor: Six Peak Location: Los Angeles Strategy: Co-living Multifamily Realized Net IRR: 23.6% Realized Net EM: 1.53x Hold: 33 Months Exit: Oct 2022 Class A 29-bed, 5-unit co-living multifamily development
Court Square 45th St.
Sponsor: Tavros Location: NYC Strategy: Residential Pre-Development Assemblage & Entitlements Realized Net IRR: 16.2% Realized Net EM: 1.56x Hold: 48 Months Exit: April 2022275K+ buildable SF assemblage with entitlements to develop 300+ rental and 40+ condominium units in the heart of downtown LIC
Indigo Apartments
Sponsor: Blue Heron Location: Raleigh-Durham, NC Strategy: Multifamily Value-Add Realized Net IRR: 74.7% Realized Net EM: 3.04x Hold: 33 Months Exit: Oct 2021 489-unit garden community in the heart of Research Triangle Park with value-add plan to renovate 349 units and common areas
59 Grove St.
Sponsor: Trusted Properties Location: Ansonia, CT Strategy: Multifamily Value-Add Realized Net IRR: 45.3% Realized Net EM: 1.21x Hold: 6 Months Exit: Jan 2020 2-unit split house gut renovation
One Van Dam
Sponsor: Tavros Location: NYC, SoHo Strategy: Condominium Retail Development Realized Net IRR: 18.94% Realized Net EM: 1.75x Hold: 39 Months Exit: Nov 2019 14-story, 25-unit luxury condominium and retail development overlooking historic SoHo
Five Sixty West
Sponsor: Tavros Location: NYC Strategy: Luxury Condo Development Realized Net IRR: 18.5% Realized Net EM: 1.85x Hold: 43 Months Exit (Rollover): Sept 2016 11-story, 40K SF ultra luxury condominium with high-end art gallery on the ground floor
Raza Credit Line
Sponsor: Raza Homes Location: Philadelphia Strategy: Small-cap Multifamily Redevelopment Realized Net IRR: 15.1% Realized Net EM: 1.31x Hold: 39 Months Exit (Rollover): June 2021 Secured revolving credit line providing short-term construction loans for 2-4 unit multifamily redevelopment projects in Philadelphia.
Madison Square Portfolio
Sponsor: Tavros Location: Midtown South, Manhattan Strategy: Office / Retail Redevelopment Realized Net IRR: 28.5% Realized Net EM: 1.36x Hold: 25 Months Exit (Rollover): Aug 2016 Redevelopment of four vacant mixed-used office and retail buildings totaling 340K Class A rentable SF in Midtown South.
48 Ninth Ave
Sponsor: Tavros Location: Meatpacking, Manhattan Strategy: Multifamily / Retail Value-Add Repositioning Realized Net IRR: 8.5% Realized Net EM: 1.35x Hold: 47 Months Exit (Rollover): Nov 2018Refurbishment of three mixed-use retail and multifamily pre-war buildings including 26K SF of prime retail and 82 apts facing the Meatpacking Plaza.
Unrealized Investments
Ongoing investments closed to new investors.
Langtree Lake Norman
Sponsor: Blue Heron Location: Mooresville, NC Strategy: Multifamily Conversion w/ Retail Start: 2024 Target Exit: 2031Conversion of 300, lakefront multifamily units to Class A with ~50k SF of retail space; part of a larger lifestyle community including additional retail, hotel, office, and medical office
Rancho Hills Apartments
Sponsor: Gelt Ventures Location: Vista, CA Strategy: Garden Style Community Value-Add Start: 2024 Target Exit: 2030Light renovation of a 148-unit garden style apartment community strategically located in the larger, masterplanned Shadowridge lifestyle community in Vista, CA
Allure Apartments
Sponsor: Gelt Ventures Location: Denver, CO Strategy: Multifamily Value-Add Start: 2024 Target Exit: 2030Renovation of a 252-unit core multifamily community strategically located 9 miles southeast of Downtown Denver
The Charles
Sponsor: Blue Heron Location: Spartanburg, SC Strategy: Multifamily Value-Add Start: 2023 Target Exit: 2030Class A, 208-unit, amenitized multifamily community in the heart of downtown Spartanburg
Hyatt Regency Hill Country Resort & Spa
Sponsor: Woodbine Location: San Antonio, TX Strategy: Resort Hotel Value-Add Start: 2023 Target Exit: 2031 Recapitalization and renovation of an iconic 500-key, full service resort in infill San Antonio, Texas
4014 Ludlow St
Sponsor: How Group Location: Philadelphia Strategy: Long-stay Hotel Development Start: June 2020 Completion: Sept 2022 Target Exit: 2024 Class A 55-unit long-stay hotel development utilizing modular construction, pre-leased to Sonders USA, located in the heart of University City.
426 N. Alexandria
Sponsor: Six Peak Location: Los Angeles, CA Strategy: Co-living Multifamily Development Start: Jan 2019 Completion: Feb 2021 Target Exit: 2024 8-unit, 40-bed, ~17,000 GSF co-living multifamily development on 7,500 vacant lot with underground parking and rooftop lounge located in East Hollywood, LA.
North St. Condo Portfolio
Sponsor: Speter Family Location: Stamford, CT Strategy: Class-B Condo Portfolio Start: 2019 Target Exit: 2023 Two refurbished Class-B, 2-bedroom condos located near downtown Stamford rented to qualified Section 8 / federally funded tenants.
One Riverside Condo
Sponsor: MMA Location: Philadelphia, PA Strategy: Luxury Condo Rental Start: 2017 Target Exit: 2022 One 2-bedroom luxury condo rental with 10-year tax abatement in highly amenitized One Riverside Condominium overlooking Schuylkill River.
The Dime
Sponsor: Tavros Location: South Williamsburg, NYC Strategy: Mixed-Use Multifamily / Office / Retail Development Start: Sept 2016 Completion: March 2020 Target Exit: 2022 (Delayed) 21-story, Class A mixed-use multifamily, office and retail building adjoining the historic Dime bank, including 178 apts and 155K SF of commercial space.
Bayard Lane Condo
Sponsor: MMA Location: Princeton, NJ Strategy: Class A Condo Rental Start: 2018 Target Exit: Hold Elegantly renovated one-bedroom condo in refurbished multifamily Victorian home located one block from bustling Nassau St in the heart of Princeton.
Ritz Residences Condo
Sponsor: MMA Location: Washington, DC Strategy: Luxury Condo Rental Start: 2015 Target Exit: Hold One two-bedroom luxury condo in highly amenitized Ritz Residences located near Dupont Circle.
Park Millennium Condo
Sponsor: MMA Location: Lincoln Square, Manhattan Strategy: Luxury Condo Portfolio Start: 2010 Target Exit: Hold Four adjoining luxury condos overlooking west Central Park in highly coveted Park Millennium Condominium two blocks from Lincoln Square.
