Multifamily Investment and Ownership
PERRCO HOLDINGS
Investment Submissions
Perrco Holdings LLC
ABOUT US
Perrco Holdings specializes in acquiring suburban garden-style multifamily communities in the Midwest, Northeast, and Mid-Atlantic regions of the U.S. Our focus is on mid-to-large value-add and core plus assets and portfolios to be enhanced through capital improvement and superior operation.
INVESTMENT EXPERIENCE
"Piece of Mind/Sleep Well"
PHILOSOPHY
INVESTMENT THEMES
Disciplined deal-by-deal direct investments.
Asymmetric risk-adjusted returns.
Recurring current income.
Prioritize preservation of capital and downside protection.
De-risk by returning equity asap via supplemental financing.
Driven by CRE fundamentals, not financial engineering.
Longer-term investment horizon.
Moderate leverage fixed-rate debt.
Tax Shelter.
TARGET OPPORTUNITY
Mispriced/mismanaged/underperforming assets below replacement cost.
Need for capital improvement and superior operation.
MARKET FOCUS
Supply constrained with a high barrier to entry.
High cost of homeownership.
Favorable rent versus own dynamics.
Low rent to area income ratio.
Steady population, HH formation, job, and wage growth.
Pro-business markets/no rent control and/or stabilization.
Stable cycle-resistant employment drivers (Meds, Eds, Gov.).
Superior schools, transportation access, and amenities.
INVESTMENT CRITERIA
Midwest, Northeast, and Mid-Atlantic regions.
Primary, secondary, and tertiary suburban markets.
Mid-to-large single assets and portfolios.
Class - A/B, value-add and core plus.
Vintage - 1980 and newer.
Unit minimum - 150.
Capitalization - $35-$150M total capitalization per asset.
COMMUNITIES
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LEADERSHIP
George Perry
George Perry is an experienced CRE investment manager with a current focus on value-add and core plus multifamily investment. His proven multi-cycle performance encompasses 110 equity and debt transactions in excess of $5B in 16 states and the UK including 51 multifamily investments comprised of 15,000+ units/$2B+. Most recently, George was CIO for The Solomon Organization, a multifamily owner/operator comprised of ~22,500 units throughout the Mid-Atlantic, Northeast, Southeast, and Midwest regions. Prior to Solomon, he founded and led Savanna Mezzanine Capital, and prior to Savanna he was CIO of Malkin Holdings, predecessor to Empire State Realty Trust (ESRT). George earned a MS in Real Estate Development from Columbia University and a BA from Tufts University.