Interview from Joe Fairless’ Best Ever Blog

Peter Slaugh, Managing Director of OpenPath Investments was recently interviewed on Joe Fairless’ Best Ever blog radio show.

Peter talks to Joe Fairless about how OpenPath is transforming apartment complexes into thriving, healthy communities by making positive social and environmental impact just as important as financial returns. This reimagined approach to multifamily investing ensures not only a socially and environmentally responsible investment, but also a more impactful investment. It’s the triple bottom line.

Listen to the full interview:

Interview from Nevada Real Estate Radio

Gino Borges, Director of Impact was recently interviewed on the Nevada Real Estate Radio.

At OpenPath Investments, we’re building a movement to transform apartment
complexes into healthy and thriving communities. First, we do our
homework before acquiring a physical property. Once a property is acquired, we
leverage our Urban Village program and invest on a deeper level—in the social capital and economic outlook of our residents—through community–engagement activities,
leadership–development opportunities, newly redesigned spaces,
ecological initiatives, and shared–consumption platforms that reduce
residents’ cost of living.

“Wharton University’s Social Innovators Conference 2015 — Bay Area’s Peter Slaugh, Founder of OpenPath Investments, Among Elite Panelists”

SAN FRANCISCO, CA — (Marketwired – Mar 5, 2015) – The acclaimed Wharton Social Innovators Conference (WSIC) 2015, a continued student-led initiative, brought together a diversified panel of today’s leaders dedicated to changing business through social impact and offering real solutions in their area of expertise, including Peter Slaugh of OpenPath Investments (OPI).

Slaugh has been spearheading this initiative through his apartment acquisitions and real estate company for over 15 years, with the implementation of the Urban Village concept. This unique concept adds social value to its 11 communities through social initiatives and programs for residents while consistently giving an above market ROI for its investors (16-18%). Programs include recycling, communal classes, resident events, shared resources, community gardens, volunteer opportunities, on-site management communications and more

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“OpenPath Investments Promotes Socially Responsible Real Estate” from JustMeans.com

(3BL Media/Justmeans) – Sustainable real estate is a growing trend across the world not just because it follows a socially and environmentally responsible approach, but also because of the increasing evidence that such property is capable of delivering superior financial returns. It involves a range of construction systems that help build a healthier and more efficient structure with a reduced carbon footprint and valuable energy savings.

Both experienced and new investors, including individuals, families and professional investment groups are increasingly seeking to invest in real estate with companies that are in alignment with their social as well as economic values. The investors are keen to make a more effective financial return on their investments, but at the same time, they want the investment to contribute to a more sustainable local and global environment and community.

OpenPath Investments Launches Into the Real Estate and Investment Industry With Above Average ROI and Socially Responsible Investing

OpenPath Investments is an apartment acquisition real estate company, investing in the social, capital and economic outlook of residents through its unique impact program, Urban Village, which includes active participation of residents together with management, ensuring a proven long term income stream with a lower resident turnover.

Traditional asset class serving millions of people, can be the best venue for true impact investing. “We’ve merged our expertise as real estate investment managers with our passion for the individuals and families who make our properties their homes,” said Peter Slaugh, General Partner. “Through impact investing, we are reaping the benefits of economic returns as well as social and environmental returns.”

Since 2002, the company has acquired more than 15 apartment complexes and has created positive outcomes for residents and surrounding communities, in addition to its investor communities. “As a triple bottom line company, we incorporate a number of sustainable practices into each property and into the daily lives of residents,” states Sara Mossman, Urban Village Program Director. “The Urban Village has strengthened the social safety net for our residents, established a higher standard of living, provided easier access to education, mentorship and career-oriented leadership opportunities.”

Over the next six months, OpenPath is considering three-to-five acquisitions in the value range of $45-$100 million and targets 14-16% returns for its investors, but has historically provided an IRR closer to 17-20%.

The three year strategy is to continue to generate above-market investment returns alongside measurable social and environmental impact. OpenPath Investments will achieve its goals by investing an additional $100 million (with a leveraged asset value of $400m) in large metro areas throughout the western U.S, scaling its vision to include several new multi-dwelling communities.

“Oregon City apartments sell for $16,025,000” from the Oregonian

OREGON CITY — A joint venture between Bay Area-based Objective Real Estate Partners, LLC and OpenPath Investments has announced its Dec. 30 closing of The Preserve Apartments, a 135-unit Class B apartment property on Highway 213 in Oregon City.

At the close of escrow the property was 98 percent occupied with continued strong demand for apartments in this location. The purchase price was $16,025,000 or $118,704 per unit and $136 per rentable square foot. The property’s strong performance during escrow enabled the buyer to achieve a capitalization rate of over 6.5 percent on in-place income at the time of purchase.

The buyers have plans to implement a modest unit renovation program to further improve the property in the first year of ownership.
A loan for the acquisition was provided by Freddie Mac via the Seattle office of Walker & Dunlop. The seller was a fund sponsored by Fowler Property Acquisitions, a California based multifamily investment firm. The sale was brokered by ARA Portland, the local office of a nationwide commercial brokerage firm specializing in apartments

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“New Bay Area Investor Closes on First Deal” From the Registry

Mill Valley-based Objective Real Estate Partners has closed on its initial real estate investment after being formed in 2013. The company paid nearly $16 million or $122,000 per unit to acquire the 135-unit The Preserve Apartments in Oregon City, Ore. The complex is located in the southeast suburb of Portland at 19389 Highway 213 and was developed in two phases between 1994 and 2004.

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Su Casa Properties Is Now OpenPath Investments

We are proud to announce the culmination of our rebranding efforts with a new name: OpenPath Investments. Leveraging the strength of our Urban Village program and our impact–driven investment strategy, we are working to create a more sustainable real estate landscape and a community–based future.

We believe that the OpenPath name better reflects both our identity and mission.

As part of our rebranding efforts, we are launching a new website and investor portal. We invite our current investors to login to our investor portal.

If you would like to learn more about how we invest for robust financial returns alongside positive social and environmental impact, please get in touch.

Su Casa Properties Acquires $7M Apartment Complex in Phoenix, AZ

Phoenix, AZ—Su Casa Properties, LLC (SCP) announced the acquisition of Barrington Regent Apartments, a 124–unit complex located at 825 West Osborn Road, Phoenix, AZ, for $7,050,000. In this “short–sale” transaction, SCP negotiated with New York Life to achieve a price of $56,854/unit exclusive of rehab/closing costs; this represents a 7.49% cap rate inclusive of all costs to reposition.

Barrington Regent Apartments is SCP’s first investment in the Phoenix market and, combined with SCP’s Utah holdings, creates a total of 738 units; Apartment Capital Management (ACM), who manages all of SCP’s assets, also manages more than 6,000 units in the Greater Phoenix market. SCP will leverage ACM’s management platform to oversee renovations as well as manage this asset to a stabilized level.

The property is located in a mature, midtown Phoenix neighborhood—less than one–half mile from downtown. Barrington Regent consists of five mid–rise buildings with varying–sized floor plans ranging from studios to two–bedroom units.

The attractive cost–basis, favorable unit mix, recovering market fundamentals, and value–added potential make this an exceptional addition to SCP’s existing investments.

SCP plans to conduct a modest renovation of the property with the following upgrades: new kitchen and bathroom packages, repainting and re–carpeting. Exterior renovations will include: a re–striping and sealing of asphalt parking areas, solar hot water heaters, and improved landscaping.

SCP will also implement its Urban Village resident program to create a sense of community, hosting functions that bring the resident base together in a “village” format while providing programs for “greener/sustainable” living practices.

About Su Casa Properties

San Francisco–based Su Casa Properties, LLC acquires and repositions multi–family apartments in targeted markets throughout the Western states. SCP has invested in a series of multi–family projects incorporating “value–added” renovations to reposition the assets and stabilize cash flow. Investors in SCP include nationally credentialed investors, first–time investors, high–net–worth individuals, and institutional funds.