Republic and our investment partners target value-add, multi-family apartment properties located throughout the Mid-Atlantic and Southeast. To date, we have completed six transactions of existing assets totaling $200 million and just over 1,200 units.
Republic typically seeks Class A and B properties built in the 1970s through the 1990s with 200 units or more. The majority of these properties are stick-built garden apartment complexes that can be repositioned through rent-accretive renovations of approximately $2,500 to $10,000 investment per unit.
On average, we hold apartment investments for five years, targeting mid-teen-levered internal rate of returns on market-rate leverage through aggressive value-add asset management.
At Republic, our development strategy targets high-growth areas, as well as areas specified for growth, that offer transit-oriented development and green building opportunities. Focusing on infill and urban development, our experience building a variety of product types—including residential, hotel, retail, office, and mixed-use—gives us the flexibility to create projects that realize the highest and best use of the land.
Republic’s approach often involves teaming up with local partners and leveraging their market knowledge. We often acquire off-market, un-entitled property, working with the community and local government to create a project that is embraced by the neighborhood and city.
Republic and our principals have extensive experience in the placement of debt and equity facilities necessary to achieve investment objectives. These include acquisition loans, construction financing, senior and mezzanine loans, and preferred and common equity.
Our financial capabilities are deep and we have built long, successful financial relationships—totaling in the billions of dollars—with major lenders representing insurance companies, pension funds, private equity firms, and real estate investment trusts. Together, we have developed over $7 billion worth and 27 million square feet of projects across all real estate product lines.
At Republic, we strongly believe in the important role that leasing and asset/property management plays in the overall financial strategy and success of building operations and ownership. It’s why we manage our own office and retail portfolios with occupancy, tenant satisfaction, and judicious financial oversight in mind.
Republic’s management, engineering, and building staff are professional and up to date with industry standards and certifications. Our people strive for constant improvement and knowledge in their respective fields through on-going education and involvement with real estate management affiliations.
We pride ourselves on delivering industry-leading property and asset management services to all property and tenant types. Our goal is always to maintain and enhance the fiscal health of each asset, maximizing their returns while at the same time providing premiere and personal tenant services at all times.