Bridge Multifamily Fund Manager LLC (“Bridge Multifamily”) targets value-add multifamily assets in growth markets that offer above-market opportunities and in which we maintain a strong local footprint. We strive to add value to our assets and create alpha at the asset level through intensive “rolling up our sleeves” property management, including capital investment, leasing, operations, maintenance, and capital structure, as well as the enhancement of amenities and resident services. Across our family of funds, we seek to build a portfolio of investments individually, asset by asset, and exit at portfolio level premiums, generating strong cash yields throughout fund life.
As both an owner and an operator, we get up close and personal with our properties. For our onsite teams, no detail is too small. Every decision—from paint color to the types of on-site recreational facilities we build—drive occupancy rates, rent growth, and ultimately value for our investors.
Bridge Multifamily has a differentiated, focused strategy which:
- Acquires investments that offer compelling opportunities to add value, at significant discounts to intrinsic values and often at a discount to replacement costs
- Drives strong and immediate operational cash flow after executing capital and management improvements
- Seeks to acquire assets outside of a competitive bidding process where relationships and a reputation for execution drive sourcing
- Makes equity capital investments in the range of $5 to $35mm, which generally equates to less competition from local and institutional buyers
Limited Class-B multifamily units have been built since 2000, while demand continues to increase from millennials, new immigrants, and seniors. We specialize in acquiring and managing Class-B apartment communities which cater to middle-class residents, one of the largest and growing cohorts of the U.S. population, in highly-liquid MSAs and sub-markets with strong macroeconomic growth.
Our “owner-operator” model allows us to manage our assets internally, with experienced personnel in property management, construction, leasing and other functions. At our facilities, we have a particular focus both on value-added renovations to individual units as well as creating a competitive amenity package, which helps foster a sense of community and inclusiveness among our residents. These amenities often include a health facility, a business center, and various recreational areas, coupled with social and community programs such as after school homework programs for school-aged children, “English as a second language” programs in selected communities, movie nights, ice cream socials and other community events. We seek to create vibrant communities for our residents, which also significantly reduces turnover and vacancies.
As of December 31, 2016, Bridge Multifamily had $4.4 billion in assets under management with 63 existing investments and 21,000 multifamily apartment units in 22 states.