Our Acquisition Criteria
At Cores Real Estate, we are committed to investing in properties that offer strong potential for growth and value enhancement. Our acquisition criteria are designed to identify opportunities that align with our strategic goals and investment philosophy.
We focus on multifamily properties that meet the following criteria:
- Location: Properties in high growth markets in the Southeast with strong employment drivers and easy access to amenities, public transportation, and major highways.
- Property Type: Class A and B multifamily properties, with a preference for garden style and mid-rise.
- Investment size: We target properties with a minimum of 75 units and transaction sizes ranging from $10 million to $30 million, allowing us to efficiently deploy capital while maintaining flexibility across a variety of investment opportunities.
- Value-Add Potential: Properties that offer opportunities for value enhancement through operational improvements, capital improvements, or repositioning in the market.
Target Return Metrics
- Internal Rate of Return (IRR): Target 15%+ over a 3-5 year hold period, depending on market conditions and project execution.
- Cash-on-Cash Return: Target 7+% in average over the hold period.
- Equity Multiple: Expect a 1.8x to 2.0x equity multiple over the investment period.