Acquisition Criteria

We look to  own the entire community, or obtain a designated section of a larger subdivision or master-planned communityIn most instances, we are trying to create a clear separation between our units and the rest of the development. If we are buying the units post-completion, we will sign a forward purchase agreement for all units within the development. Closing occurs in monthly phased takedowns upon Certificate of Occupancy and our own internal inspection of each unit.

• HOME TYPES: Single-Family Detached, Townhomes and Duplex
• UNIT COUNT: 40+ homes. Target is 75 to 250 units.
• ABSORPTION: A, Average phased takedown of 10 units per month (with more units taken down in the summer and less in the winter)BUYING LAND

We  look  to acquire and develop land for ground-up construction to create new rental communities

• ZONING: Residential (Single-Family, Townhomes, Duplex)
• IMPROVEMENT STATUS: Entitled lots with approved land improvement plans or Finished lots
• SIZE: 10 to 40 acres (proposed unit count: 40 to 250 units)
• POPULATION: 100,000+ people within a 5-mile radius and high growth potential

• Equity financing to capital constraint builders for large-scale projects with cheaper financing at  90% of equity provided at the construction phase
• Equity financing for capital constraint land developers at each stage of the land development with cheaper financing at 90% equity

• ARIZONA: Phoenix, Tuscon
• FLORIDA: Jacksonville, Lakeland, Miami, Orlando, Sarasota, Tampa
• GEORGIA: Atlanta
• INDIANA: Indianapolis
• NEVADA: Las Vegas
• NORTH CAROLINA: Charlotte, Raleigh
• OKLAHOMA: Oklahoma City
• SOUTH CAROLINA: Charleston, Columbia
• TENNESSEE: Memphis, Nashville
• TEXAS: Austin, Dallas, Houston, San Antonio

• UNIT SIZE: Vary by market, but ideal mix of 3-bedroom at 1,400 – 1,600 SF and 4-bedroom at 1,700 – 1,900 SF (economics are generally not favorable for 2-bedroom units) general range of our ideal sizes (3 Bedroom Plans at1,400 to 1,600 SF and  4 Bedroom Plans at 1,700 to 1,900 SF)
• PRICE POINT: Prices can vary by market.. Our general range is $150,000 to $250,000
• GARAGES: Required in most communities, unless it is in a  market where it is prevalent.

Lafayette has two goals when it comes to our building specification level:

• Provide a high-quality, durable home to our tenants.
• Improve the construction efficiencies of our builders by using consistent types of building products throughout all homes.

Important Features Include

• • Hard Surface in Common and Wet Areas 
  • Granite countertops 
  • Stainless Steel Appliances
  • Eggshell Finish or Washable Flat Paint
  • 9’ Ceiling Preferred on 1st Floor
  • 32”+ Cabinetry
  • Dual Vanity in Master
  • Under Mount Double Kitchen Sink
  • Front Yard Landscaping 
  • Garage Door Opener
  • Irrigation