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ApexOne Investment Partners |
ApexOne Investment Partners is a national multifamily investment firm. Our senior partners bring over 100 years and $10B of cumulative real estate experience to each investment. With this depth of experience comes a unique perspective when assessing opportunity, measuring risk and maximizing return. Borne from within this perspective is the ApexOne advantage:
"The ability to assess the multitude of opportunities and convert the right ones."
~ Jim Hearn, Founder
Our Focus |
ApexOne sponsors or co-invests in every investment transaction. By combining our vast expertise with a vested commitment, we align ourselves with our partners and stay true to our mission of delivering maximum returns while mitigating risk. We maintain longstanding relationships in the brokerage, development and capital market communities and our proprietary information systems allow ApexOne access to both on and off market opportunities.
Our Experience |
Our team members have over 100 combined years of in-depth investment experience across all of the major Sunbelt regions of the United States. As part of our strategic investment platform, each opportunity is approached from a top-down and bottom-up analysis, allowing us to identify potential issues, create solutions and mitigate potential risk factors.
Investment Criteria |
ApexOne Investment Partners' acquisition platform has three primary areas of focus and we are motivated to achieve our mandate in each category.
Class A Properties - Stabilized |
- 2004 or newer construction
- 150 to 350 units
- $12-$35M transaction size
- Cap rates consistent with suburban market fundamentals
- Due Diligence and Closing – market timing
- Financing contingency - none
- Target markets: Major metro areas of Florida, Texas, Georgia, North Carolina, Colorado and Arizona
Class A/B+ properties with Value-Add Component |
- 1994-2002 vintage assets
- 150+ units
- $10M - $50M transaction size
- Cap rates consistent with suburban market fundamentals
- Due Diligence and Closing – competitive market timing
- Financing contingency – none
- Target markets – primary and secondary markets nationwide (excluding Northeast and far Northwest)
Distressed, Value-Enhancement and/or REO assets |
- All Vintages considered
- 100+ units; no asset to large
- No initial cap rate or return required
- No occupancy requirement
- Due Diligence - competitive timing from 7-30 days
- Closing - negotiable after significant at-risk deposit
- No financing contingencies
- Target markets - Nationwide (excluding far Northeast and upper Northwest)
Our Team |
Jim Hearn
Founder and Managing Partner
Jim is the founder of ApexOne Investment Partners. He has over 26 years of experience in the multifamily industry including acquisition, disposition, finance, asset management and ownership. Prior to ApexOne, he negotiated and closed over 420 transactions totaling $4.3 billion and held ownership in over 1500 units. From 1998-2011, Jim served as a national partner with Hendricks & Partners focused on multifamily advisory and investment sales. Previously, he was a partner with Allied Realty Services and an associate partner with the Eton Financial Group of Houston.
Jim is an active member of National Multi Housing Council, National Apartment Association and the Houston Apartment Association. He is active in the community and serves as an advisory board member for the World Health Golf Association which benefits Children's Immunization Services.
Jim attended Gustavus Adolphus College and was named a Collegiate All-American tennis player for three consecutive years from 1980-82.
Primary Focus: Strategic Direction of Firm and Investment Portfolio | Multifamily Acquisitions and Asset Management | Client Communication | Strategic Partner Relationship Development
Tim Burns
Partner
Tim has participated in the acquisition, financing, renovation, asset management and disposition of over 12,000 residential units, ten million SF of industrial/warehouse space, and four million SF of retail property. Prior to joining ApexOne Investment Partners, Tim was a principal of Adams LaSalle Realty, a Chicago based multifamily investment sponsor, and was responsible for the firms' multifamily acquisitions and venture partner relationships. Previous to his tenure at ALR, Tim was Senior Vice President and Portfolio Manager of Heitman Capital, an institutional real estate investment advisor with over $25 billion of assets under management. His portfolio at Heitman included $2 billion of multifamily, office, industrial and retail assets.
Previous to Heitman, Tim served as a portfolio manager for several funds with JMB Institutional Realty Corporation, including JMB Group Trust V, the largest fund invested by JMB. Within these Funds he also managed a variety of large assets with values in excess of $100 million each and led the value enhancement strategies whereby the Funds significantly outperformed their relevant index returns.
Tim holds a BA in accounting from Western Michigan University, is a Certified Public Accountant and a member of the Urban Land Institute.
Primary Focus: Strategic Direction of Firm and Investment Portfolio | Multifamily Acquisitions and Asset Management | Client Communication | Strategic Partner Relationship Development
Ernest Johnson
Partner
Ernest brings more than 26 years of experience in the real estate industry spanning several asset classes including multifamily, office, medical office, industrial/warehouse, retail and student housing. Prior to joining ApexOne Investment Partners, Ernest was an Executive Vice President of PM Realty Group. During his tenure with PM Realty Group, Ernest was involved with development, acquisitions, dispositions and capital markets. Previous to PM Realty Group, he was Executive Vice President with JMB Realty Corporation in Chicago. Having worked throughout the United States during his tenure with PM Realty Group and JMB, Ernest has maintained strong real estate relationships in numerous real estate markets.
Ernest holds a Bachelor of Science degree in Business Administration with a major in accounting from Auburn University. He currently serves on the Board of Advisors for the Auburn School of Business. Ernest also serves on the Executive Committee as the Chairman of the Board of Directors of the South Central Region of the National Multiple Sclerosis Society. He has also served on the Board of Directors of PUSH America, a national philanthropy that works with college students to raise awareness and funding for people with disabilities and is a Past National President of the Pi Kappa Phi Fraternity.
Primary Focus: Capital Market Relationships | Multifamily Acquisitions | Direction of Investment Portfolio | Strategic Partner Relationship Development
Bill Saul
Partner
Bill has over 34 years of real estate experience in development, acquisitions and dispositions totaling over $1B. His experience includes 20 years with Colliers International, a global real estate advisory firm, including six years as Managing Director. He also held the position of Managing Partner with Hendricks & Partners, a national multifamily investment and advisory firm. Additionally, Bill was directly responsible for the development of over 9,000 multifamily units for Granada Construction, Trammell Crow Residential and JPI.
Prior to ApexOne, Bill focused on identifying investment opportunities created by distressed market conditions and was actively involved in the acquisition and disposition of commercial notes.
Bill is active within the community and served for eight years on the City of Phoenix Board of Adjustments. He currently serves on the Board of several non-for-profit organizations including: CHILDhelp, Anytown Arizona and the Metro YMCA Valley of the Sun
Bill attended William & Mary and holds a degree in Construction Engineering from Arizona State University.
Primary Focus: Strategic Direction of Firm and Investment Portfolio | Multifamily Acquisitions | Client Communication | Strategic Partner Relationship Development
David Steele
Associate Partner
David has over 12 years of experience in financial services and commercial real estate finance. Prior to joining ApexOne Investment Partners, David was a Financial Advisor for Merrill Lynch Wealth Management where he assisted small business owners, executives, and retirees with financial planning and their investment objectives. David began his career with Invesco Investments as a marketing specialist where is role was to penetrate sales from the major wirehouses such as AG Edwards & Sons, Painewebber, and Merrill Lynch. His career also includes tenure at BMC Capital, LP, LMI Capital. Inc., and Hines Real Estate.
David earned a BA in Finance from Stephen F Austin State University and holds an MBA from the University of Houston.
Primary Focus: Multifamily Acquisitions | Client Services | Financial Underwriting
Brandon Buell
Associate Partner
Brandon has over 10 years of sales experience in the energy and commercial construction industry. Prior to joining ApexOne Investment Partners, he was primarily responsible for new business development and expanding existing accounts for an Ohio based manufacturing company. During his tenure Brandon averaged 39% growth year over year and was the top producer for five years. Key national customers include: Exxon Mobil, Chevron, Tetra Technologies, Apache Drilling and Texas DOT. Brandon played a key role in developing the use of diamond tool technology for the energy business specifically in decommissioning of oil rigs in the Gulf of Mexico.
Brandon holds a BA in marketing from Texas Tech University. He is actively involved in the community and has served on the Grand Oaks MUD board for the past ten years. He has also served as an elder and committee chairperson at the Southminster Presbyterian Church.
Primary Focus: Identification of Multifamily Acquisitions | Client Services | Financial Underwriting
Fort Worth, Texas
Closed May 2013
Republic Park Vista is a 308-unit suburban class A community located in the high growth corridor of North Fort Worth. Property features include stone, stucco, and Hardi plank siding exteriors, expansive resort-style swimming pool, state-of-the-art fitness center, business center, luxury clubroom, and sand volleyball court. Each residence includes 9 ft. ceilings, full size washer/dryer connection, crown molding, garden-style bathtubs, and patio/balcony.
The property is located in North Ft. Worth, a high growth area between the Ft. Worth CBD and Alliance Texas, the 2nd fastest growing area in the nation from 2000-2010. Major employers include FedEx, American Airlines, Mercedes Benz, JC Penney, and Bell Helicopter. Fossil Creek, an 1150 acre master planned community, is also located a short distance from the property and is home to major employers Bank of America, Coca Cola, Hagar, State Farm, and Allstate. Additionally, DFW International Airport is located 20 minutes from the property. Republic Park Vista residents attend the highly recognized Keller ISD schools.
Upon acquisition, minor enhancements will be completed and the property will be held for cash flow and appreciation.
Columbia, South Carolina
Closed February 2013
Quail Run Apartments is a 332 unit garden apartment community originally developed in 1972. The property features a low density wooded park like setting, lake with fountain water feature, lighted tennis courts, fitness facility, pools, and picnic area. Units include washer/dryer connections, patios/balconies, fully equipped kitchens, ceiling fans, french doors, and large units averaging over 1200 square feet.
Quail Run is located in Columbia’s northeast pocket of affluence where household incomes are relatively high and home values are among the highest in Columbia. Also, directly east of Quail Run is Fort Jackson, the U.S. Army’s largest and most active initial training center, training more than 67,000 soldiers annually. The University of South Carolina is located 5 miles from Quail Run.
The property was purchased from the REO portfolio of a large national lender. The property had suffered from deferred maintenance, tenant neglect and low occupancy as it worked through the foreclosure process. The lender improved occupancy upon takeover and we will immediately embark on a program to complete curing of deferred maintenance, upgrade units, and improve the rent roll. Upon stabilization, the property will be financed and held in portfolio for long term cash flow and appreciation.
Jacksonville, Florida
Closed February 2013
Wimberly at Deerwood is a 322-unit class A suburban community located in the upscale Southside submarket of Southeast Jacksonville, FL. The property features controlled access gates, direct access garages, large clubhouse with state-of-the-art fitness center, media room, game room, resort-style swimming pool with cabana, sand volleyball courts, and car wash area. Interior unit amenities include 9 ft. ceilings, vaulted ceilings, full size washer/dryers, crown molding, intrusion alarms, and built in wine racks.
Wimberly is located in the Southside submarket in the master planned community of Deerwood. The property is within walking distance of the areas two largest employers, Florida Blue and Merrill Lynch, both located in the 2.5MM square foot Deerwood North office park. Also nearby is the St. Johns Town Center, a new open air retail venue that is home to Jacksonville’s finest retail and restaurant establishments.
Upon acquisition, a renovation and upgrade strategy will be immediately implemented. Common areas will be upgraded including: new pool-area furniture, clubhouse renovations, new fitness center equipment and upgrades, and outdoor kitchen and grilling area upgrades. Interior unit upgrades will include new counter tops, new sinks, upgraded flooring, lighting and cabinets, and fresh paint schemes. Upon completion of the upgrade program the property will then be held for increased cash flow and appreciation.
Houston, Texas
Closed September 2012
Greystar Cypress Village is a unique 273-unit high density Class A suburban community located in the heart of Cypress Village Station, Houston's first suburban transit oriented mixed-use development. Cypress Village Station contains 100,000 square feet of retail and office space, a 1,500 space parking facility, and an adjacent park and ride facility for tenants who work in downtown Houston. The property offers first class amenities including open concept kitchens with granite-style countertops, cherry wood cabinets, modern lighting fixtures, brushed nickel hardware fixtures, and faux-wood flooring throughout kitchen and living areas of select units.
Located along the 290 growth corridor, nearby employers include Sysco, North Cypress and Cypress Fairbank Medical Centers, Exxon, Baker Hughes, and Long Star College Cy-Fair. Greystar Cypress Village is walking distance to Cypress-Fairbanks ISD schools, the largest recognized school district in Texas.
Upon acquisition, granite countertops will be added to certain penthouse units and a more cohesive parking and leasing strategy will be implemented. Initial cash yields exceed 11% and the property will be held for long term growth and income.
Pflugerville, TX
Closed September 2012
Broadstone Grand Avenue is a 280-unit Class A suburban community located in the high growth north central corridor of Austin (Pflugerville), Texas. The property features masonry exteriors with cement plank siding and includes luxury finishes and amenities rivaling the finest properties in the market. Apartment residences includes nine foot ceilings, granite counter tops, Whirlpool appliance packages, wood vinyl plank flooring in all kitchens and baths, oval garden tubs, accent walls, and full size W/D's. First floor plans also have simulated wood vinyl plank flooring in living rooms.
The property is located in North Central Austin in the middle of Austin's technology driven growth corridor. Major employers in the immediate area include Samsung Electronics, Emerson Electric, as well as the world headquarters of Dell Computer and Dell-South Campus.
The property's location, surrounded by a dynamic growing technology economy, is expected to outpace comparable suburban growth metrics and the property will be held for long term growth and income.
Oklahoma City, OK
Closed August 2012
Ridgeview Apartment Homes is a 119-unit Class C garden apartment community located in the heart of Oklahoma City's northeast quadrant. The property features exceptionally large units that include ceiling fans, wall-to-wall carpet with vinyl tile in kitchens and baths, washer/dryer connections in each residence, fireplaces, dishwashers, and garbage disposals. Property amenities include attractive grounds with substantial ladscaping, playgrounds, pool, and picnic tables and grills.
Located in one of America's Top 5 Job Markets (Forbes, January 2011) in an area characterized by middle income, single family residential neighborhoods, additional multifamily properties, and retail and office development. The property is near the Penn Square Mall, Oklahoma City's most prestigious shopping mall, and Lake Heffner which offers boating, fishing, jogging trails, and two golf courses.
The property was purchased from an undercapitalized owner and suffered significant deferred maintenance and down units. The property was purchased for cash and will immediately undergo a repositioning and upgrade program totaling approximately $15,000/unit. The property will then be stabilized, re-financed, and held in portfolio for cash flow and long term growth.
Arlington, TX
Closed April 2012
Legacy Point is a 246-unit luxury apartment and townhome community located in Arlington, Texas. The property is the best in class asset in the sub-market and features amentities such as direct access garages, resort style pool with waterfall, lodge style clubhouse with fitness facility, large units (averaging 1030 sq.ft.), and large site with rolling terrain and views to the Trinity River.
The property is nestled among top employers including various medical centers, American Airlines, Southwest Airlines, various banks, and DFW International Airport. The location provides immediate access to State Highway 360 allowing for short commutes to both DFW and the greater Dallas metro area.
Upon acquisition, a value enhancement strategy will be implemented whereby units will be upgraded with new appliances, lighting, flooring, and paint schemes. Common areas will also be upgraded including clubhouse enhancements, fitness center upgrades, and new pool furniture. The property will then be held for increased cash yield and appreciation.
Baytown, TX
Closed January 2012
Villas at Rollingbrook is a 204-unit Class A luxury community located in the Baytown/Port of Houston corridor. The location serves the rapidly expanding petrochemical, engineering, and medical community of Baytown. The property features include private garages, media room with Wii game system, gated entry with remote access, state of the art fitness facility, cyber cafe, outdoor cabana with grilling area, and resort style pool. Apartment residences include nine foot ceilings, crown molding, washer/dryers, wood finish flooring, garden tubs, large walk-in closets, private balconies, and stainless steel appliances in select units.
The property is located in close proximity to the Port of Houston where numerous large employers reside including Exxon Mobile, Chevron Phillips Chemical, Bayer, JSW Steel, Center Point Energy, and Goose Creek ISD. The Port is the third largest in the US and, together with local industries, forms the second largest petrochemical complex in the world, contributing in excess of $3 Billion annually to the local Baytown economy.
Villas at Rollingbrook was purchased as a high yield investment, producing in excess of 11% cash return. The property will be held long term for yield and capital appreciation.
Kansas City, KS
Closed March 2011
ApexOne co-invested with Spectrum Business Ventures to acquire the 345-unit Royal Ridge Apartments from Hudson Advisors on 3/17/11. On the day of closing, the property was less than 40% occupied and in total disrepair. A $3,700,000 renovation program was immediately implemented increasing rents from $.60/sq.ft. to $.86/sq.ft., stabilizing property operations.
Today the property is a vibrant part of the local community and is home to a variety of working-class families and students from nearby Kansas City Kansas Community College. The property is currently performing substantially ahead of projections.
Corporate Headquarters
2603 Augusta Drive #400
Houston, TX 77057
713-784-8100 Main line
713-784-8101 Fax
For general Information - Info@ApexOneIP.com or 713-784-8100
Houston:
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