Street Smart Success

Real estate is a block-to-block business, especially multifamily. That’s why a highly targeted strategy is desirable when choosing an operator to invest in. Tight geographic and asset class focus mitigates a lot of risk. Southgate Ventures buys class B and C multifamily properties in Seattle in the sub-middle market $10 million, 20–30-unit range from owners who’ve owned the properties for 15-30 years. With longer-term ownership, there’s a likelihood that value-add opportunities exist to significantly enhance the value of these properties. There’s an abundance of these properties in Seattle, a growing market with limited supply, robust employment, and high incomes.