INVESTMENT STRATEGY

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BMM Associates seeks opportunistic and value-added investments in underperforming mobile home parks and self-storage facilities in targeted markets that can be repositioned to maximize value.

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Underperforming and distressed parks and storage properties can be acquired at a disproportionate discount because of the low pool of buyers with the expertise and niche acquisition strategy to finance, fix, manage, lease, and enhance the operations.

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We are executing a unique acquisition strategy that capitalizes on the growing and underserved affordable housing market by repositioning mobile home communities in select submarkets that meet the acquisition criteria. While our strategy with self storage facility focuses on acquiring assets in strong primary markets yet are still mismanaged or under occupied.

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ACQUISTION CRITERIA

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BMM Associates is currently seeking investment in real property and nonperforming notes that have substantial value-add potential in emerging markets. General acquisition parameters are set forth below.

 

Commercial properties and nonperforming notes close to meeting these criteria will be considered on a case-by-case basis:

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Property Type:

Class B & C Self-Storage, and Mobile Home Parks that are well located, underperforming, and have significant upside through lease up, rehabilitation, reduction of expenses, or expansion.

 

Location:

Emerging markets throughout the United States.

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Size:
Self Storage: 150-600 Units
Mobile Home Parks: 50-300 Pads

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Property Price or Note UPB:

$1 million – $10 million

 

Population:

In or near an MSA with population of 200,000+

 

Occupancy:

Generally, we prefer properties with a minimum occupancy around 80%, but will consider properties with different occupancies on a case by case basis. We will also consider 20000 SF to 70000 SF former big box and retail buildings with total vacancy that are suitable for conversion to self storage in markets where the demand exists for additional self storage.

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Procedure to Submit Property Packages for Review:

We can respond more quickly, if you submit your property information package to us as an attachment to an email. Generally, we will be able to provide a response within a few days.

If your investment property or nonperforming note meets our initial criteria, we will ask that you email the following to us:

• For commercial properties: a current rent roll and income & expense statements for the year to date and the last 2 years.

• For nonperforming notes: Complete note package, including current rent roll, 12 month trailing income and expense statement, bid procedure and time frame from submission of LOI until close of escrow.

For more information on our real estate investment criteria, please contact us.