It’s All About The Team.
Key Markets
Our acquisitions team targets carefully vetted value-add real estate in our primary markets. Legion oversees and manages the entire process, from acquisition to overseeing management, refinancing and sale.
Due Diligence
A local, experienced team is crucial to ensure a high-performing property, so the Legion Acquisitions team focuses ample resources in building and negotiating essential operator relationships in the Midwest’s fastest-growing primary and secondary cities.
Expert Team
These local operators include brokers, lenders, contractors, property managers, handymen, insurance brokers, etc., who are interviewed and vetted against our driving values of Integrity, Transparency, and Excellence.
Invest in Fast-Growing Secondary Markets.
Property Type
Residential developments with 100+ units, C- to B class, which are undervalued due to underperforming management, deferred maintenance, or rents that are lower than surrounding market rates.
Metrics
Among other criteria, we like to see a minimum 8% yearly cash-on-cash return, 80% occupancy, and rents 10% below surrounding market rates. The most important criterion for us is the ability to raise value enough to cash out refinance.
Target Markets
Minneapolis/St. Paul, Des Moines, Rochester MN, Madison, Milwaukee and the corridor from Dallas to San Antonio, TX.
Middle Market Focused
$5M to $30M in total capitalization.
Value-Add Strategy.
Commercial Real Estate is valued by the income it generates. This means that increasing income or lowering expenses (or both) allows us to control the property’s value and opens the opportunity for a CASH OUT REFINANCE for our investors. When we purchase an apartment building, we focus on properties that:
Have had underperforming supervision from current management
Have rents below market rate
Have a high vacancy relative to local comparable properties
Have been self managed for many years
Are in poor or outdated physical condition
These types of apartment buildings allow us to employ strategies that increase the property’s value, such as:
Implementing a utility bill-back system (ratio billing)
Improving unit interiors to increase rents
Improving curb appeal
Streamlining expenses
Boosting the overall tenant experience
Develop additional income streams
Renovating leases at current market rates
