Ojas targets and invests directly in value-add (and rescue) acquisitions, repurposing opportunities and conversions, underperforming note purchases, and select development opportunities across real estate verticals with a specialty in senior living, multifamily/student housing, and hospitality real estate assets.
Ojas has a fully integrated platform through its affiliated partner entity that incorporates investments, acquisitions, development/rehab, operations, and asset management to maximize value through the entire investment life-cycle. With in-house expertise including investment and partner sourcing, capital planning and structured finance, operations and asset management, zoning and legal structuring, we can evaluate even the most complex of transactions and execute innovate value creation solutions to extract value.
Target Opportunities
- Assets should be well located (typically CBD, secondary and occasionally tertiary markets with a diverse set of applicable demand drivers and in close proximity to healthcare providers, employment centers, retail, and recreational amenities, etc.) in markets that are supported by strong fundamentals including stable or growing target populations, job growth, high school graduate growth and appropriate median incomes and surrounding home values/commercial property values for the target product type
- Existing assets should be priced at below replacement cost and that may have below market in place rents, and/or above market vacancy rates that are being run inefficiently so Ojas can put in place an optimized operational platform and implement the appropriate capex strategy
- Opportunities should allow for original equity to be returned prior to sale through recapitalization and/or operating income
- Ojas uses its existing relationships and market knowledge to acquire assets at a low basis, and control repositioning costs through intensive project management
- Ojas will work with motivated sellers to close quietly and quickly and can employ creative capital structures to accommodate various seller situations
Senior Living
- Within Senior Living, Ojas primarily focuses on investment in Independent Living (IL), Assisted Living (AL), and Memory Care or Alzheimer’s (MC or ALZ) properties within a core-plus / value-add / opportunistic strategy
- Ojas will also explore acquisitions of other assets types that could strategically be converted to senior housing or student housing through the execution of a value-enhanced strategy
Hospitality
- Ojas targets distressed and value-add cash-flowing hotels with a broad spectrum of brands that can either be streamlined and up branded by rightsizing operations and/or executing capex/rehab plans, or assets that would be ideal for asset repositioning
Debt/Non-Performing Preferred Equity
- Ojas identifies and will acquire non-performing debt for senior housing, student housing, multi-family, or hospitality assets at a discount and will extract value using a litany of strategies including foreclosure/litigation, loan workouts, taking control of underlying assets and operating, or reselling in secondary markets