Properties

Cove believes it’s critical to have “skin in the game” and therefore continue to invest our own capital alongside our clients. We expect and require our general partners to do the same.

Multifamily Acquisition Target Characteristics

• Apartment buildings and student housing properties of 50-300 units for scale
• Healthy markets / sub-markets with rent growth supported by growth in population, jobs, and income
• B/C class assets with operation upside and rents at or below market, and usually a value-add (renovation) opportunity to force appreciation.
• Experienced operating partners with deep local knowledge and resources on the ground
• Use of cost segregation to maximize depreciation benefits for investors  

Financial Return Targets

• >100% total return over 5-7 years
• High single-digit cash-on-cash returns with monthly or quarterly cash distributions to investors
• A minimum of 10-15% IRRs with conservative underwriting

See below for several transactions in which Cove Investments has participated: