The TORO Properties Group has been investing in multi-family properties since 2000. Investments are typically made in properties built from the late 50’s to the 70’s with relatively low occupancy and some deferred maintenance. This provides the opportunity to add value by improved property management and property renovation.
The first multi-family investments were made in duplexes and small apartment properties. Gradually, the TORO Properties Group has increased its capital commitment into this investment segment and in January of 2006, the first investment was made in a mid-size multi-family property. In order to provide best-in-class property management and property renovation of older mid-size apartment complexes, the TORO Properties Group engaged an Atlanta based property management company in 2006, which is dedicated to managing and renovating mid-size apartment properties acquired by the TORO Properties Group.
The managing partners of the TORO Properties Group have provided the equity for the multi-family investments in the first four investment funds. Starting with the TORO Properties V fund, the managing partners have invited a limited number of “value adding” external investors for a minority equity investment. Each investment resides in a separate single purpose LLC.
All multi-family investments to date have been made in the metro Atlanta area. Investment results for all funds where a full exit has been realized have been robust.
The TORO Properties Group has equity available for additional investments and has access to a wide network of capital sources as well as experts in the legal, taxation, property management and other real estate service professions.