21 George November 2016 Update

Completion of a reposition… About half of 21 George Investors’ assets have been repositions, some being more aggressive than others and all in various stages of the reposition process. At the end of Q2 2016, we stabilized one of our more aggressive repositions to date turning an underperforming Class C-asset into a desirable downtown location and contributing to the revitalization of the community’s walkable downtown. The assets performance through Q3 2016 vastly outperformed stabilized projections and we expect this performance to continue. The asset is currently undergoing an independent appraisal to potentially refinance allowing us to either make further improvements to the asset or return investment capital.

New England and beyond… Over the past several years we have built a strong investment team in New England allowing us to acquire over 100 multi-family units throughout several New England markets and stabilize operations. While we will continue to grow our New England strategy, market conditions and our success to date has led us to start implementing the same techniques we have used here in New England into other markets across the country. Through strategic partnerships we will begin building our team and investing in select secondary markets in the mid-west and southeast.

Dave Lindahl Sponsorship Event in Boston… This month we were able to attend Dave Lindahl’s weekend long Sponsorship Event here in Boston. Attendees came from across the country, experience levels varying from 1,000+ unit multi-family operators to beginners. This event was geared towards educating the attendees on how to structure syndicated deals and make strategic partnerships. Many very successful individuals, both in real estate and life, shared insights on their investment strategies and how they got to where they are today. Through this event, and the Lindahl community as a whole, we have been able to develop meaningful relationships that will help us expand beyond New England.

The Trump Effect… Having a president who made all his money through real estate can’t be a bad thing for real estate investors, right? Since Super Tuesday I have tried to piece together the affect Trump may have on multi-family investing through articles and opinions of other investors, and I have come to the conclusion that it is still business as usual. Although the stock market has made a come back since it’s initial dip after The Donald became President Elect, volatility remains unavoidable in the stock market pushing more investors into the historically stable real estate industry. When it comes to multi-family real estate I tend to agree with what former Boston Celtic Champion and NBA all-time leader in 3 Point Shots Made, Ray Allen, recently wrote in an essay to his younger self upon retiring, “there are no secrets, just boring old habits.” When it comes to multi-family real estate, if you keep up with demographic and other macro trends, do proper market due diligence, asset analysis, and asset management, risk will be mitigated and the returns will be there.