B/K Multifamily seeks to add value by developing and repositioning existing properties through capital and managerial improvements. It pursues multifamily properties in upscale locations, which command strong rents assured by natural constraints to other development in the submarket. These constraints may include a lack of land, zoning hostility, or other growth dynamics in competitive areas.

Each investment made requires a fundamentals-based narrative which demonstrates why it is a highly desirable investment, which can be monetized by the application of well-executed real estate skills. This narrative must include strong factors mitigating downside risk across a broad range of market conditions.

Having found such an opportunity, B/K Multifamily applies the full spectrum of the talents and facilities in the company’s platform to bring extraordinary value to its partners and investors.

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Value-Add Properties

B/K Multifamily acquires multifamily properties that are typically between 15 and 25 years old and renovates them to compete with newly constructed properties. The company’s investment philosophy leads to investments producing rental rates that may trail newer product but that provide extraordinary cash-on-cash yields and internal rates of return.

Because the cost basis in B/K’s value-add properties is lower than the cost basis in new product, these investments outperform competing new properties both in current yields and overall returns.

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Tax-Advantaged Structures

B/K Multifamily applies smart, tax-advantaged structures to generate extraordinarily high yields for tax-sensitive investors. Our team identifies multifamily properties that best fit these structures, provides appropriate financial frameworks, and ensures regulatory and compliance issues are satisfied through our on-site management affiliate, B/K Multifamily Services.

The company’s financial expertise includes conventional financing and tax-exempt bonds, including private purpose, 80/20, and 501(c)(3) bonds, as well as caps, swaps, and other derivatives.

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Development

B/K Multifamily has a long history of developing multifamily assets from concept to stabilization. The company identifies land suitable for multifamily development and then determines the feasibility of development, employing architects as well as civil, structural, electrical and mechanical engineers, interior designers, and landscape architects to design state-of-the-art buildings that suit the investment profile of the development site. B/K employs and supervises general contractors utilizing in-house construction management staff. In the process, B/K produces attractive, marketable multifamily properties and exceptional returns. We hold or sell completed properties as the investment goals of our partners may require.