Client Spotlight: Coast Equity Partners

 

Coast Equity Partners (CEP) is a 30+ year old privately owned real estate company with a proven track record of purchasing attractive multi-family properties in the Western United States at favorable prices and optimizing their financial performance via improved property management, resident services, operating efficiencies and cost controls. CEP meticulously cares for every property and is dedicated to providing enhanced amenities or unit upgrades for residents.

CEP seeks properties in secondary and tertiary submarkets attached to primary Western U.S. market areas where there is a gap in supply vs. demand and where there are existing transportation, employment, entertainment and retail options available. Additional considerations include diversity of employment/base economy, population changes and household formation and household income.

The company’s excellent track record is based on leveraging the Coast  Group of Companies’  in excess of $5 billion in assets under management, 700+ employees, and expertise in property management, construction services and facilities management.  To date, the company has purchased 13 projects and exited four. The current portfolio includes nine projects with 1,400 multi-family units with current market value of $300,000,000. Four properties; $40 million; combined gross annualized rate of returns of 21.5%

“We believe the best investment opportunity in apartments today, from a risk/reward perspective, is in existing properties in secondary markets with strong fundamentals and identified management upside or repositioning potential. We identify markets where there is compelling evidence of single family home pricing stability, job and income growth and an underserved demand for apartments,” said Partner Bob McCambridge.

“We find quality assets at prices below replacement cost and utilize long term low cost fixed debt to hedge against inflation and enhance the property’s attractiveness at sale. We do not rely on cap rate compression or unrealistic asset appreciation assumptions in making our investment decisions,” said Partner Gary O’Malley.

For information, visit https://coastequitypartners.com or contact Bob McCambridge at bmccambridge@coastequitypartners.com or (206) 295-6402 or Gary O’Malley at gomalley@coastequitypartners.com or (206) 954-8929.