A Measured Approach
Informed by decades-long professional experience and inspired by our vision, Makor acquires, manages and owns exceptional apartment communities in leading markets that deliver durable, current yields and capital appreciation on a tax-efficient basis to our investors over the long-term. Our approach is measured. We focus on maximizing the upside of each investment while minimizing downside risk. We are willing to re-evaluate our operating assumptions in light of new market data and results. We consistently assess the reasons for our performance without leaping to conclusions. These principles are also embedded in our name Makor, as the definition of "Kor" is a measure of capacity, meant to emphasize the importance of holding ourselves accountable to our own high standards of performance.
Our Strategy
Makor always seeks to acquire undervalued assets where we can make strategic capital improvements, implement operational efficiencies and/or reposition the tenancy to create or unlock value. We often find these opportunities in markets proximate to employment in high wage, globally connected industries, in submarkets experiencing an imbalance in housing supply & demand and in suburbs from which residents enjoy easy access to major lifestyle amenities, good healthcare and excellent school systems. We acquire "best-in-class" apartment communities that beat the competition and attract residents who are proud to call them “home”. We capitalize each acquisition with a significant co-investment from Makor principals, patient capital from like-minded partners and long-term, fixed rate, fully assumable debt. We insist on the presence of these fundamental investment parameters for each acquisition even though our investment rationale can be opportunistic or contrarian. We have converted market rate apartments to income-restricted housing (and vice versa); acquired distressed debt instruments; acquired assets requiring mitigation of environmental risks; and designed and implemented in-place renovations on a large scale.
