Embark on an enlightening journey to explore the strategic investment landscapes of Class B multifamily properties within the vibrant Sunbelt region. This presentation is tailored for discerning investors seeking to penetrate an underexploited segment of the real estate market that promises above-average returns and long-term capital appreciation. By focusing on the Sunbelt, you'll learn about the synergies of investing in a region experiencing an influx of population growth, robust economic development, and an increasing demand for rental housing. This presentation is your gateway to understanding how these assets can diversify and strengthen your portfolio, providing a hedge against inflation and a steady stream of income. Join us to unlock the secrets of capitalizing on the Sunbelt's booming real estate market and position yourself at the forefront of this investment frontier.

PIA is pleased to announce the launch of the PIA Residential Fund I. Keeping in line with our investment strategy, the Fund seeks to achieve attractive risk-adjusted returns by investing in a diversified portfolio of value-add institutional multifamily properties in growth markets of the Southeast US. Investments will target well-located multifamily assets that are under-managed and/or can be purchased below replacement cost. As with prior investments, the focus will be on properties that generate consistent cash flow and provide opportunities for rent increases and value appreciation through light to medium renovations and a capital improvement program.  Average target cash-on-cash distributions are 6-8% with an overall target net investor IRR of 12-14%.

As a result, the Fund has already identified its first investment - Summerchase at Riverchase, a 1989 built, 240-unit property in Hoover, a prime Birmingham, Alabama suburb. This is an off-market opportunity initially offered to us at the beginning of the year for $44 million. After continued negotiations, we were able to secure it for $39.25 million. Because of its location, market dynamics, and 95% renovation potential, Summerchase offers an excellent value-add opportunity expected to produce returns in line with the Fund’s targets. 

PIA is pleased to announce the launch of the PIA Residential Fund I. Keeping in line with our investment strategy, the Fund seeks to achieve attractive risk-adjusted returns by investing in a diversified portfolio of value-add institutional multifamily properties in growth markets of the Southeast US. Investments will target well-located multifamily assets that are under-managed and/or can be purchased below replacement cost. As with prior investments, the focus will be on properties that generate consistent cash flow and provide opportunities for rent increases and value appreciation through light to medium renovations and a capital improvement program.  Average target cash-on-cash distributions are 6-8% with an overall target net investor IRR of 12-14%.

As a result, the Fund has already identified its first investment - Summerchase at Riverchase, a 1989 built, 240-unit property in Hoover, a prime Birmingham, Alabama suburb. This is an off-market opportunity initially offered to us at the beginning of the year for $44 million. After continued negotiations, we were able to secure it for $39.25 million. Because of its location, market dynamics, and 95% renovation potential, Summerchase offers an excellent value-add opportunity expected to produce returns in line with the Fund’s targets. 

Join PIA Residential’s upcoming webcast discussing our recently awarded Savannah, Georgia multifamily property. The webcast will cover our bullish thesis on multifamily assets located in 3rd tier municipalities, that possess large industrial employment centers, like ports, shipyards, and military installations. We will provide deep insight into our analysis and provide a glimpse of the internal mechanisms utilized to assess risk and choose our acquisitions.

We will provide an overview of our due diligence process from previous property acquisitions at Crystal Lake (Pensacola, FL) and St. John’s Pointe (Jacksonville, FL). We will share why we chose these properties as foundational components to our broader multifamily portfolio strategy and discuss how the assets have performed through COVID on both the property and investment levels.

Additionally, we will provide a comparative analysis on the different investment structures, individual SPVs (Special Purpose Vehicles) vs. a Fund. As well as an introduce our 2 newest offerings, the PIA Workforce Housing Fund and the PIA Hard Money Lending Fund.

Danny Kattan, Managing Partner of Capital Markets, PIA Residential, will provide an overview and revisionist history of PIA Residential's successful transition from single-family and small multifamily to the institutional multifamily space. This discussion will detail the differences between the two market segments and how this growth model uniquely prepared PIA Residential for the pivot to the institutional space and the pandemic. This discussion will cover direct lending, vertical integration, scaling into a full-service real estate private equity firm, and valuable lessons learned along the way. He will also explain how PIA Residential views the multifamily sector's current state, forecast trends, and outlook prognosis. 

In "The Impact of Technology on Real Estate," I will discuss emerging technology that will affect various real estate asset classes. Many real estate investors are not including technological risk in their evaluations of opportunities. Having these technological advances on your radar will create an opportunity for you to assess how they will directly or indirectly impact your potential investments. The pace of the adoption of technology is much quicker than markets anticipate. We will dive into a few technologies that are colliding into each other, reinventing products, services, and industries. I will also discuss how COVID along with technological advancement will expedite the timeline for change, just as the 2008 crisis saw the birth of the "Sharing and Gig Economy" the COVID crisis will see the birth of the "Collaborative and Distance Economy."