Strategy

Build-to-Core Strategy

  • Secure prime development or redevelopment sites
  • Develop projects with modern amenities and technologies designed to outperform comparable existing product, creating significant value
  • Stabilize assets into well-leased, high-income producing core investments
  • Hold to realize ongoing core returns; sell at opportunistic time
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    National’s investment approach employs a consistent build-to-core model suited to navigate the inevitable ups and downs of the property cycle:

    • Focus on leading U.S. urban markets with barriers to entry, diversified economies, mass transportation networks, intellectual capital, and growth drivers—demographic and business
    • Identify prime development opportunities, working with experienced developers or directly through our in-house development group
    • Carefully undertake pre-development and budgeting, waiting for the right market opportunity to begin construction
    • Employ equity and debt structures seeking to maximize investor returns and hedge risk; use debt prudently on a portfolio basis
    • Make midcourse corrections to sustain projects, wait out market hiccups if necessary - well-conceived, high-quality projects in prime locations can ultimately realize potential
    • Lease and manage to maintain high occupancies at market leading rents
    • Look to sell assets at peak values over time

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