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Myers Apartment Group

Myers Apartment Group (MAG) is a specialty multifamily investment firm focused on undervalued properties and other strategic acquisitions that fit our investment criteria. We predominantly focus on infill submarkets throughout the Southeast and Texas.

With more than 50 years of comprehensive real estate investment and third-party management expertise, as well as an established entrepreneurial culture, MAG is uniquely positioned to capitalize on select opportunities in today’s dynamic and complex commercial real estate market.

Multifamily Focus

We believe the current dynamics within the multifamily real estate market will create compelling opportunities for sophisticated and experienced investors.  These factors include but are not limited to:

  • Rising cost in the factors of production for new single family and multifamily homes, resulting in favorable supply/demand fundamentals for existing product
  • Fundamental shift away from home-ownership towards rental
  • “Prime Renters” ages 18-34 are projected to reach 66 million by 2020 (nearly as large as the peak of the baby boom)
  • Attractive financing
  • Tax advantageous partnership benefits
  • Hedging against inflation

Strategic Relationships

MAG recognizes the key to success in any multifamily  investment opportunity comes down to the day to day operations of the asset. This is why we have partnered with Bell Partners for the management of our assets. Bell was established in 1976 and is a top-15 apartment operator with nearly 50,000 homes across 14 states and the District of Columbia. Bell is one of the largest apartment renovators in the industry. The Company has over 1,500 associates and 8 offices (including its headquarters in Greensboro, NC), offering an extensive and full service operating platform containing expertise in acquisitions and dispositions, financing, property operations, accounting, risk management and all other related support functions.

Acquisition Strategy

A balanced approach to commercial real estate investment with the goal of creating strong risk-adjusted returns through a combination of appropriate leverage, accretive renovations, and stable cash flows.

MAG is currently targeting Value-Add and Core Plus, 1990’s vintage or newer, Class “A” and “B” multifamily assets in strong infill locations with established competition, population in-migration, continuing job growth, and high barriers to entry. The intrinsic value of these assets are unlocked and risk-adjusted. Stable cash flows will be created through a combination of sound financing strategies, accretive renovations, and exceptional management.

Other key factors of our strategy include:

  • Purchase multifamily assets well below replacement cost
  • Seek favorable debt terms in current capital market conditions
  • Be best in our competitive set and compete with class A product at a significant rental discount
  • Foster co-beneficial and long-term relationships with sellers, brokers, and partners
  • Establish a reputation as a known and trusted buyer in our target markets

Core Plus (Light Value-Add) + Traditional Value - Add = 7-10% Cash on Cash 13% + Gross IRR

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  • Core Plus (Light Value-Add) Assets: Newer assets, which typically require less capital investment, offer stable and relatively predictable cash flow yields through professional management and light renovation.
  • Traditional Value-Add Assets: Older assets, with substantial renovation potential, offering opportunities to create value through more significant capital investment and active asset and property management.

Company Vision

Myers Apartment Group aims to achieve a strong connection between social responsibility and financial freedom. Our vision is centered on a solid belief and desire to positively impact our partners’ ability to quickly and effectively develop financially-feasible, environmentally-conscious, and community-centric opportunities.

We elevate our partners, customers, investors, and neighbors to create positive change, to stand out in the marketplace, to be the center of innovation, to act as leaders and contributors in the marketplace and to help our connections endure and thrive.

Our platform allows investors access to a strong portfolio of investments typically available only through large institutional capital providers or closely-held connections.