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ACQUISITION CRITERIA

As of January 2007

 

Target Market:

• Midwest (IL, WI, MO KS, IN, OH, MN MI)
• Mid-Atlantic (Philadelphia/Baltimore)
• AZ, CO, TX and FL

 

Deal Size:

• 150 unit minimum.
• We'll consider smaller deals in locations where we have an existing presence.

 

Asset/Class:

• Garden or mid/high rise.  Minimum C+ or better location/submarket
• We're interested in value-add and stabilized opportunities.

 

Transaction Type:      

• Market Rate/Conventional
• Subsidized
• Section 42
• All Cash
• Cash-to-mortgage
• Purchase Partnership Interests
• Purchase Debt

 

Initial Information:              

 

• Previous two years and y-t-d operating statements
• Current rent roll
• Description of site and improvements
• Description of any existing debt
• Asking price   

 

Contact Information:

 

Jordan Sternberg

DIRECTOR, ACQUISITIONS

500 SKOKIE BOULEVARD, SUITE 600

NORTHBROOK, IL 60062

PHONE:  (847) 501-5450 X214

FAX:  (847) 480-5760

EMAIL: Jordan.Sternberg@Bannerapartments.com