Expedition’s objective is to make direct and indirect GP and LP structured investments in real estate projects. Investments are expected in both new development projects as well as acquisitions of existing assets for renovation and re-positioning. Expedition limits project-level leverage to both preserve Investor capital and lower investment risk in the event of market volatility.
Expedition believes that a blend of GP and LP investments can provide investors with attractive returns not readily available from competing real estate investment funds. GP investments allow Expedition to invest alongside the operator/developer in the GP capital level of individual projects. As a result, Expedition participates in the additional profit, or ‘promote’, typically given to the project operator or developer. LP investments allow Expedition to take the capital position frequently taken by larger institutions with a preferred return and participation in residual profits.
Expedition invests GP and LP capital in real estate projects being developed or acquired by its preferred operating company relationships. The existing companies operate in the multifamily, student housing, senior living and select service hotel sectors. Expedition is continually seeking to establish new preferred relationships with operating companies to diversify and expand its investment opportunities.
Expedition targets a distinctive strategy comprised of:
- Sector Diversification – Strategic relationships operating in the multifamily, student housing, senior living and select service hotel sectors.
- Project Diversification – Ground-up development and value-add acquisition projects.
- Geographic Diversification – Project investments in multiple markets across the United States.
- Large Number of Investments – Average of less than $5M investment per project.
- Best-in-Class Operators – Investments alongside experienced operating companies with proven track records.
- Existing Investment Pipeline – Preferred relationships provide Expedition with unique access to an existing pipeline of investment opportunities.
Expedition’s preferred relationships provide unique access and insight to each investment. The operating companies identify potential investments and present the opportunities to Expedition. After Expedition elects to invest, the operating companies coordinate all aspects of the project, including securing entitlements, pre-development and pre-renovation planning, coordinating architects and engineers, and arranging debt and equity capital. Expedition is aligned and has insight into the entire process of each project through completion and ultimate sale.