Elandis announces the start of a new venture with M&G Investments.
Acquisition of 1,000 units in Texas and Florida.
Further divestment of improved multifamily assets during the year
Sale of multifamily asset in Las Vegas, NV.
Elandis agrees second partnership with Ameris Capital to pool institutional investors in the multifamily arena and closes its first financing operation with Fannie Mae.
The company is rebranded to Elandis.
Expansion of multifamily business activities into Texas, with the acquisition of almost 1,000 units in Houston.
First partnership with Ameris Capital is closed to pool institutional investors and co-invest in the multifamily business.
Successful exit of first round of multifamily investments commences.
FCA expands multifamily operations to Nevada, with the acquisition of an asset in Las Vegas while divesting its residential portfolio in NYC.
FCA creates a Property Management arm in the US in order to manage multifamily assets more effectively and profitably.
FCA opens office in US, to undertake its first residential multifamily investment in Florida, followed by other investments in the same segment in the coming years.
Investments made across the real estate cycle and the Americas. Investments range from land trading and development in Latam, to purchase of troubled assets in Central and North America.
units repositioned and sold
avg. NOI CAGR of assets owned & repositioned
years of investing in the U.S. multifamily arena
value of property sold
Corporate Social Responsibility
At Elandis, above all, we believe in value creation. Not only in our investments, but also through active management of our property portfolio, building environments that enhance local communities. We feel that our greatest strength is our diverse team and the combined experience and local knowledge they bring to the business, with an entrepreneurial spirit and social conscience.
Two of our core values are the responsibility and commitment, towards our people, partners, and the whole global community in which we operate.
We continue to create new relationships, built on trust, in pursuit of our commercial and community objectives
CHIEF EXECUTIVE OFFICER
As CEO, Frank has overall responsibility for the management and strategic direction of Elandis.
Before joining the company, he worked with Libra Capital's investment management team in designing the investment strategy and business plan for FCA Group. His relationship with Libra dates from 1999 when his responsibility for a fleet of ships as Vice President of a shipping company brought him in close contact with Libra's global transportation business.
Having worked throughout the Central American region, Frank has intimate knowledge of its culture and commercial landscape.
Maximizing the returns of the equity owners
Within multifamily, we target niche markets with expected demographic growth above US average, and on asset sizes that are large for an individual investor but small for portfolio/institutional investors.
Our own property management operations and operational expertise allow us to not only shrewdly manage the assets after acquisition, but to properly price them, targeting value creation rather than fee collection. This allows us to maximize returns while also boosting resident's quality of life.
Strong team with expertise in investing, financing and management
A number of unique strategies for each of the three phases have been developed over the years, and each asset receives derived from these. In addition to the more typical physical and financial repositioning tactics, Elandis believes in additional environmental repositioning tactics, which have typically made our asset repositionings faster and more cost efficient than those of competitors around us.
Elandis today is composed of a strong team with expertise in investing, financing and management. We have worked together for more than five years, but some team members go back 17 years
We focus on creating better communities
Elandis identifies opportunities for operational enhancements that will lead both to an enhanced environment and to better financial performance during the early stages of the investment process. The objective is to enhance investment returns by increasing environmental efficiencies, reducing environmental blight and reducing waste. We strive to identify physical improvements needed for energy efficiency and operate investments in an environmentally sustainable manner.
Our platform to acquire under-performing, distressed multifamily apartments allows us the opportunity to do high impact social good. We invest in poorly maintained, older properties, and often in previously under served areas. Doing this conscientiously allows us to decrease local crime, remove visual blight, provide local employment, and improve the quality of life for local residents. Further, by bringing online abandoned or neglected apartments, we can provide a much-needed increase in housing stock for workforce families.