Our Method and Strategy
GreenLight Equity Group is a privately held investment firm based in Salt Lake City, UT and Columbus, OH. We are focused on acquiring and operating stable, income producing multifamily assets in solid and emergency U.S. markets such as Columbus, Oklahoma City, Tulsa and Salt Lake City. Our mission is to improve communities and expand well-being for investors and residents through progressive solutions in multi-family investing. We target high-yield passive cash flow and long-term capital appreciation through strategic acquisition and superior asset management. GreenLight Equity Group and its principals have bought, sold and managed over 1575 units, valued at over $179 million. With over 50 years of real estate combined experience, we are capitalizing on opportunities created by market conditions to own stabilized multi-family properties in premier locations. Our target properties generate strong ongoing cash flow income potential (“mailbox money”) as well as long term wealth potential. Our success and reputation has been built on ethics, passion, attention to detail, conservative underwriting, responsibility, honesty and integrity.
Multi-family Real Estate
Facts support our belief that the United States is experiencing a significant acceleration in demand for rental units. The Great Recession resulted in an unparalleled shift away from home ownership and toward a strong demand for rentals. Baby Boomers and Millennials prefer the freedom that a rental lifestyle provides. Additionally, the prior recession significantly hindered and reduced the supply of new housing. While construction financing has become easier and new supply is on the rise, the pipeline for new construction is expected to lag U.S. population growth over the long term. All of these factors contribute to continued strong demand for apartments. GreenLight Equity Group and its investors are poised to take advantage of these economic and demographic factors by acquiring premier multi-family properties with stable cash flow and long term appreciation.We target strong employment centers with growth and stability trends that better the national averages. We aim to position ourselves and our partners to be able to seize the opportunity to acquire value add opportunities in any market condition achieving strong, long term cash flow as well as upside potential and appreciation.
Our strict investment criteria along with the current economic environment presents a unique and continued opportunity to acquire quality multifamily assets in prime locations at prices which are conservatively underwritten with exciting yet realistic growth and appreciation expectations. We expect these opportunities to increase in the coming years as climbing interest rates and changing market conditions will force some properties on the market at lower prices. The recent economic and health crises are creating new opportunities in the market as well as owners of distressed assets are trading at an increasing rate. Our strategy is to smartly and patiently acquire, manage and operate stabilized multifamily assets that generate high yield, passive cash flows and also have a value-add component. We target strong employment centers with growth and stability trends that better the national averages. We aim to position ourselves and our partners to be able to seize the opportunity to acquire value add opportunities in any market condition achieving strong, long term cash flow as well as upside potential and appreciation.
Mariposa Apartments is 51 unit, light value add Class C opportunity located in the northwest area of Oklahoma City with good rent comps and solid demographics. Approximately half of the units have been remodeled, and there is good opportunity for organic rent increases and forced appreciation with the newly remodeled units as they are turned. This will be a 3-5 year hold with the adjacent complex (called Canterbury Apartments, owned by DRG Investments), and they will be rebranded, managed, and sold together. There is a CapEx budget of $303,000, which includes $100k for exterior upgrades and rebranding. The IRR is 15.98%, with an 8.16% cash on cash return, and an 8% preferred return for LP members. The equity multiplier is 1.87%, which brings a $217K in profit for a $250k investment over 5 years.
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The Greenlight Team is a group of high-level investor entrepreneurs dedicated to improving communities for residents and investors. Each team member brings a unique set of skills, knowledge and experience. As a whole, the team possesses a dynamic chemistry that allows for accessing the highest and best in all aspects of the business.