The recent downturn in the economy, especially in the housing industry, has created an unprecedented opportunity for HACSB to increase it's portfolio of affordable housing available to all range of tenant incomes. As a result, the Office of Real Estate Development has aggressively pursued acquisition of existing multifamily housing as a priority. Since implementing the strategy in 2008, HACSB has acquired over 500 additional housing units in various parts of the county.
Our investment strategy is simple: Focus on opportunistic investments that deliver exceptional returns/revenues to our ongoing housing programs. These include:
- Distressed assets (such as properties in foreclosure or properties damaged by natural disasters).
- Assets that can be re-positioned and have added value potential.
- Properties in sub-markets with strong employment growth.
- Properties in sub-markets where supply is constrained.
- Product in areas that are neglected or depressed but have strong underlying fundamentals.
- Market-timed investments.
- Buying assets at less than replacement cost.