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TWO BY TWO GROUP

TWO BY TWO GROUPTWO BY TWO GROUPTWO BY TWO GROUP

A Real Estate Investment Firm

A Real Estate Investment FirmA Real Estate Investment FirmA Real Estate Investment Firm

Investments

Two By Two has acquired over 1,500 units in various markets and currently has over $90,000,000 in assets under management. Our objective is to create value for shareholders and communities by investing in neighborhoods we believe in—because they have statistically demonstrated strong fundamentals to support long-term growth.

Portfolio

Atlanta, Georgia | 330 Units

Montgomery, Alabama | 393 Units

Montgomery, Alabama | 393 Units

  • 1976 Asset acquired in December 2021, with high physical occupancy (85%) and under-utilized amenities (pool and basketball court were both non-operational at time of take-over).
  • Performance projections supported by a proven value-add model and a strong Atlanta submarket with 12.3% average rent growth and $66,608 median household income. 
  • Substantial renovation plan including upgrading approximately 50% of the  units and enhancing the amenity package.


Montgomery, Alabama | 393 Units

Montgomery, Alabama | 393 Units

Montgomery, Alabama | 393 Units

  • Acquired off-market in 2021 at 40%+ below comparable stabilized properties 
  • Recombined two properties, originally built as one contiguous asset in 1984 & 1986 
  • Substantial value-add including the opportunity to rehab 129 down units


Sarasota, Florida | 148 Units

Montgomery, Alabama | 393 Units

Lafayette, Louisiana | 124 Units

  • Class A asset built in 2016, acquired off-market in 2021 well below appraisal value and replacement cost with over 100% in depreciation benefits made available in first year of ownership
  • In-place rents substantially below market with break-even occupancy at 57% upon takeover
  • Performance projections supported by historic growth; population grew 25% from 2010-2019; median income increased 17%+ from 2017-2020

Lafayette, Louisiana | 124 Units

Lafayette, Louisiana | 124 Units

Lafayette, Louisiana | 124 Units

  • 1973 asset acquired in 2021 from a self-managing entity, allowing for increased efficiencies and income optimization
  • 97% occupied at purchase, cash-flowing day 1, with negligible performance variation during COVID
  • At purchase, in place rents were 13%+ below average among lower quality rent comparables allowing for an immediate opportunity to boost NOI

Dalton, Georgina | 78 Units

Lafayette, Louisiana | 124 Units

Dalton, Georgina | 78 Units

  • 1973 built asset acquired in 2020 off-market from family ownership at 22% below comparable sales prices
  • Uniquely situated asset between Atlanta and Chattanooga, in “Freight Alley” (boasting the highest concentration of freight service companies)
  • At purchase the property had not been improved for some time, allowing for rehabbed units to be leased at 30-35% higher than in-place rents

Lubbock, Texas | 173 Units

Lafayette, Louisiana | 124 Units

Dalton, Georgina | 78 Units

  • Two off-market 1973 built assets acquired as a portfolio in 2019 substantially below appraised value, enabling additional exit options 
  • In place rents 18%-25%+ lower than lower quality rent comparables whose average unit sizes are substantially smaller
  • In place ownership severely mismanaged, screened tenants ineffectively and had accrued unnecessary deferred maintenance, allowing for a more favorable acquisition terms and performance upside

Sold Properties

Acquisition Criteria

Property Types & Key Market Indicators:

  • Workforce multi-family asset with 100+ units
  • Under-performing management/ability to increase revenue through improvements in C+, B- and B properties 
  • Proven track record of population growth 
  • Strong and improving industries along with companies currently in place 
  • Area median income 3X+ the annual rent of subject asset
  • Business-friendly climate
  • Landlord favorable environment
  • Established as an improving market
  • Limited supply and clear areas of growth   


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