We have a track record spanning three decades of investing in compelling real environments throughout the Southeast. Our approach is to thoroughly assess each opportunity for long term asset appreciation and cash flow. Faison’s non-fund, direct real estate investment objective affords our partners the flexibility to structure the capital and align economic interests.
ASSET CLASS: Mixed Use
SIZE: 320,500 SF
STRONG TRACK RECORD.
Faison has long-term relationships with partners who have demonstrated expertise in their markets and product types. We look for investments to produce above average risk-adjusted returns located in the Southeast.
Among other characteristics, we seek to invest in opportunities in supply-constrained, growth markets, development projects with significant barriers to entry and challenging entitlements, acquisitions at a discount to replacement costs, distressed or partnership fatigue properties, and repositioning assets with leases below market value that require capital for physical and tenant improvements.
- Southeast markets with long-term job and wage growth.
- Primary MSAs: Charlotte, Raleigh-Durham, Atlanta and Nashville
- Secondary MSAs: Charleston, Asheville-Greenville, Richmond, Orlando, Tampa Bay, Jacksonville, Knoxville and Tidewater, VA
- Residential: multifamily acquisitions, development, and single-family lot development
- Retail: grocery-anchored, neighborhood services and infill, unanchored centers
- Office: value-add traditional, medical and adaptive reuse
- Industrial: flex, distribution warehouses, last miles and self-storage
- A balance of ground-up development, redevelopment, value-add and core acquisitions
- Investments range from $1 – $10 million
- Target placement of $3 – $6 million
04Structure & Term
- Focus on limited partner (LP) positions
- Project level IRR returns greater than 20% and a 2.0x equity multiple
- Typically underwrite to 5-year hold periods but exit terms can range from 2 to 7 years depending upon projected market conditions and deal expectations
- Preferred equity and short-term bridge financing considered