Our acquisition efforts are focused in over 30 major metropolitan markets nationwide where we have acquisition investment expertise and property management infrastructure. Berkshire believes that submarket conditions, as well as overall Metropolitan Statistical Areas (MSAs), determine the long-term growth prospects for an asset. We target submarkets where scarcity of available in-fill land for development creates an extremely favorable investment environment for middle-market properties. Interdisciplinary teams of acquisition, asset management, development, redevelopment and property management personnel then assess the strength of submarkets where we have identified acquisition opportunities. We strive to identify investments that will significantly outperform the market through our unique combination of insightful top-down market research and a proprietary, collaborative due diligence process led by our experienced field personnel.
We focus on middle-market multifamily properties with superior rehabilitation, development, redevelopment or repositioning opportunity. We believe our strategy has a greater likelihood of generating higher returns with superior resiliency in the face of economic recessions than do other multifamily investment strategies.
We seek to generate attractive returns while minimizing potential downside risk by targeting assets or portfolios of assets that are: (1) mismanaged; (2) in need of rehabilitation or redevelopment; or (3) available at a deep discount from lenders or distressed sellers.
Our ability to successfully execute our value-added strategy relies on our fully integrated, national organization of nearly 1,000 professionals covering the following disciplines: acquisitions, development, redevelopment, property management, asset management, finance, and investor relations. These disciplines are in turn supported by our state-of-the-art human resources, tax, accounting, legal and technology departments. We purposely locate our personnel and offices throughout the United States in primary markets. We pride ourselves on our field presence and the knowledge and know-how it provides us when seeking market surpassing returns for our portfolios.