Multifamily Investment and Ownership
PERRCO HOLDINGS
Investment Submissions
Perrco Holdings LLC
ABOUT US
Perrco Holdings specializes in acquiring suburban multifamily communities in the Midwest, Northeast, and Mid-Atlantic regions of the U.S. Our focus is on mid-to-large core plus and light value-add assets and portfolios to be enhanced through superior operation and capital improvement.
INVESTMENT EXPERIENCE
"Peace of Mind/Sleep Well"
PHILOSOPHY
INVESTMENT THEMES
Disciplined deal-by-deal direct investments.
Durable current income.
Tax shelter.
Prioritize preservation of capital and downside protection.
De-risk by returning equity early via supplemental and/or refinancing.
Driven by CRE fundamentals, not financial engineering.
Longer-term investment horizon.
Moderate leverage fixed-rate debt.
Superior risk-adjusted returns.
TARGET OPPORTUNITY
"Busted deals, mispriced, mismanaged, underperforming assets below replacement cost.
Need for superior operation and capital improvement.
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 and low crime.
INVESTMENT CRITERIA
Midwest, Northeast, and Mid-Atlantic regions.
Primary, secondary, and tertiary suburban markets.
Mid-to-large single assets and portfolios.
Class - A-/B, core plus and light value-add.
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 a 30-year experienced CRE investment manager with a current focus on core plus and light value-add 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+. Prior to founding Perrco Holdings, he was Chief Investment Officer of The Solomon Organization, a multifamily owner/operator comprised of ~22,500 units across the Mid-Atlantic, Northeast, Southeast, and Midwest regions. Earlier, he founded and led Savanna Mezzanine Capital, and before that served as Chief Investment Officer of Malkin Holdings, a large New York based office, retail and multifamily owner/operator that became Empire State Realty Trust (ESRT). George earned an MS in Real Estate Development from Columbia University and a BA from Tufts University.