The Blackland Group, LLCOutstanding Properties, Outstanding Partners!Real Estate Investment Group
The Blackland Group, LLC is an Atlanta area firm that owns and operates residential rental properties. The company forms partnerships with investors so they can realize the benefits of real estate ownership without the challenges of property selection and management. Our mission is to acquire assets in emerging economic markets throughout the United States. At present the company and its principals are invested in three states and are continually examining new markets for future investment opportunities. Our commitment is to increase the wealth of our clients through the acquisition. operation and disposition of outstanding multifamily investment properties. The principals of the company are personally involved in ensuring each property performs according to its unique investment strategy. The Blackland Group welcomes new partnerships in multifamily acquisitions. BUSINESS MODELThe core of the Blackland Group's business model stems from fostering key relationships in growth markets throughout the United States. The company's network is experiencing continued growth in five emerging markets which have been identified as offering outstanding value and growth. The Blackland Group uses proprietary criteria to identify investment markets based on economic trends for market growth. Within those markets, The Blackland Group seeks multi-family properties that have opportunities for added value through improved management, physical rehabilitation, and market development. The company develops relationships within the target markets that allow it to source desirable properties before they have been broadly marketed. The Blackland Group uses computer modeling to analyze properties for their current cash flow, future value, and potential profit to the investor partners. Investment risk is mitigated through application of rigid criteria utilized while sourcing properties for our portfolio. There is no substitute for patience when seeking new assets. There is no right price for the wrong asset. BUYING CRITERIAGeneral Criteria
Emerging Markets: We identify new growth markets and markets that are correcting from a previous market decline. Patterns of employment, apartment absorption, new construction, rent growth, and capitalization rates are factored into a matrix to evaluate potential geographic markets. CAP Rate: Depends on individual market, cash requirements and the appreciation potential of the property.
Cash Equity: All Cash or Cash to Existing Debt.
Property Property Type: Multi family residential buildings and communities.
Property Size: At least 100 units.
Property Class: Middle income (B-class) working class (C-class) properties with potential current income and potential for improved future value.
Age of Property: Any age, but preferably buildings built after 1970 with good maintenance history and quality construction materials.
Construction: All brick with pitched roof is preferred, other types of construction will be considered.
Utilities: Individually metered preferred by not mandatory.
Occupancy: Minimum of 85%. Lower occupancy will be considered if the property is well located, there are opportunities for repositioning and renovating the property.
Value: The Blackland Group consistently seeks properties that have opportunities to add value and increase profitability.
If you have a property you would like us to consider, please provide the following: - Name and address of the property
- Last twenty four (24) months of operating statements
- Current Rent Roll
- Pictures
- Proposed price and terms
We look forward to doing business with you. INVESTOR CRITERIAThe Investors in the real estate partnerships of The Blackland Group must meet the asset and income thresholds for Accredited Investors. (Investor Qualification Forms are available upon request). Properties are held in Limited Liability Companies (LLC) established for each individual property. PROPERTY PORTFOLIOThe Principals of the Blackland Group have partnered on five properties in four emerging markets. These properties are comprised of A, B and C class assets with a total of 1048 units and a combined value exceeding $47,000,000. The business model calls for divesting existing single family dwellings in the Atlanta area and acquiring an additional 100 to 250 additional units in 2008, and an additional 500 units in the next twelve months. EXTRAORDINARY PEOPLEKevin Hannan - President
Kevin Hannan is a key player in the acquisition of multifamily properties in emerging markets. He attended the State University of New York at Buffalo for a Bachelor of Science degree in Computer Science, Alfred University for a Bachelor of Science in Electrical Engineering and is a Certified Project Manager from the Project Management Institute. Sharon Hannan - Chief Financial Officer
Sharon Hannan is the Chief Financial Officer of the Blackland Group, as such she is responsible for finances and operations. Sharon earned a Bachelor of Arts in Accounting with a minor in Economics from St. Peter's College. |