Webinar Topic: A Win Win Win Strategy for Investing in Workforce Housing
ApexOne Investment Partners is a dedicated real estate investment firm with a specialty in workforce, conventional and student housing communities. Directly and along with a series of joint venture partners, ApexOne has invested in over $1,000,000,000 of real estate assets comprised of over 40 properties nationwide since 2011.
ApexOne makes monthly distributions to investors. The weighted average IRR of full cycled investments in its first fund (2014 vintage) is 28.9%. The second fund (2016 vintage) is yielding 8% and fully cycled one property at an IRR of 19.8%. Both Fund I & II are closed to investment. ApexOne’s third fund (Vintage 2019) ApexOne Multifamily Fund III, LP has acquired three assets with two more under contract. The Fund is open for investment through December 10, 2019. Fund III is yielding 8% on Invested Capital.
ApexOne is one of the first two investment firms selected to participate in Freddie Mac’s Green Up program which recognizes environmentally responsible owners with a lower borrowing rate. ApexOne is also one of just 63 “Select Sponsors” in the Freddie Mac program. As a Select Sponsor, ApexOne is assigned a full-time team of underwriters who work on all ApexOne investments. Not only does this provide the seller a higher certainty of closing, it reduces closing time and expense. As a Select Sponsor, ApexOne is also given a lower cost of borrowing. When combined with the reduction provided through the Green Up Program, ApexOne borrows at the lowest rates available to conventional and student housing borrowers through Freddie Mac.
Ernest Johnson, Partner and Executive Managing Director, Investment Committee. Ernest is a Principal and an Executive Managing Director of ApexOne. He focuses on capital markets, fund strategy and financial administration, and investor communications. Ernest has 38 years of real estate experience including 17 years as the Executive Vice President of PM Realty Group’s Capital Markets division and 10 years with JMB Property Company where he served as Executive Vice President of the Western Division. Immediately following graduation from college, he managed a national multifamily student housing portfolio and was responsible for all facets of operations, including acquisitions, dispositions, construction and finance. Ernest is actively involved with National Multifamily Housing Council. He serves on the Advisory Council for Auburn University’s Master of Real Estate Development program and is also on the University of Florida’s Bergstrom Real Estate Center Advisory Board. Ernest previously served as the Chairman of the Board of Trustees for the Lone Star Chapter of the National Multiple Sclerosis Society and has been inducted into the MS Society’s National Fundraising Hall of Fame. Ernest remains active with his university fraternity, having served as National President of Pi Kappa Phi, President of Pi Kappa Phi Properties and as a member of the Board of Directors for the Ability Experience, a national philanthropy raising awareness and funding for people with disabilities. He currently serves as Chairman of the Pi Kappa Phi Foundation. Ernest graduated with a Bachelor of Science in Business Administration from Auburn University (1980).