B/K Multifamily

B/K Multifamily was founded in 1992, beginning with a small portfolio of value-add properties. Since then, the firm has transacted on $2 billion of conventional and affordable housing assets across thirteen states throughout the Mid-Atlantic, Southeast and Southwest. In addition to conventional multifamily financing, the company has a great deal of experience with tax-exempt bonds, swaps, and other derivatives. Investment partners include nationally recognized pension funds, hedge funds, Wall Street investment banks, private equity funds, and family offices. The company emphasizes long-term relationships with best-in-class partners to generate multiple follow-on transactions. Under this approach, B/K Multifamily has successfully executed as many as thirty transactions with the same partner. B/K Multifamily seeks to add value by developing and repositioning existing properties through capital and managerial improvements. It pursues multifamily properties in upscale locations, which command strong rents assured by natural constraints to other development in the submarket. These constraints may include a lack of land, zoning hostility, or other growth dynamics in competitive areas.

Each investment made requires a fundamentals-based narrative which demonstrates why it is a highly desirable investment. This narrative must include strong factors mitigating downside risk across a broad range of market conditions. Having found such an opportunity, B/K Multifamily applies the full spectrum of the talents and facilities in the company’s platform to bring extraordinary value to its partners and investors. B/K Multifamily acquires multifamily properties that are typically between 15 and 25 years old and renovates them to compete with newly constructed properties. The company’s investment philosophy leads to investments producing rental rates that may trail newer product but that provide extraordinary cash-on-cash yields and internal rates of return. Because the cost basis in B/K Multifamily properties is lower than the cost basis in new product, these investments outperform competing new properties both in current yields and overall returns.