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Investment
Strategy
Endurance Real Estate Group applies value-oriented investment
strategies with the goal of generating above-average,
risk-adjusted returns for our equity partners and ourselves.
Endurance continually evaluates the market looking for
new opportunities to take advantage of inefficiencies
in the property and capital markets. Endurance then designs
and executes property-specific business plans tailored
to the specific opportunities it finds.
Our investment strategy targets both income and value
creation opportunities in the office and industrial property
sectors. We target well-located assets with issues we
can understand and resolve, such as rolling in-place leases
with rents below market, correctable functional obsolescence
and under-managed assets. We look for those investments
where we can execute our business plan, address the source
of a property's undervaluation and then realize the value
created.
Endurance creates value through asset repositioning, managing
tenants in-place, and acting where capital is undersupplied.
Our partners gain access to privately-negotiated and off-market
transactions, as well as professional property and asset
management. We demonstrate our belief in and commitment
to each investment by way of our significant co-investment
in each transaction.
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Disciplined Due Diligence
Endurance underwrites each investment rigorously. We work
to understand the asset, its market and submarket, the
related capital market issues, the competition, as well
as the structural, environmental and legal factors affecting
the asset. We focus on achieving returns superior to the
risk inherent in the transaction. We project the financial
returns based on realistic and achievable assumptions.
We stress test those assumptions to understand the likely
range of returns. We work to identify likely sources of
value accretion and then attempt to maximize them during
our ownership period.
Real estate underwriting includes extensive location and
property-level analysis. This means understanding the
demand drivers and likely supply response of the market.
At heart, we are value-oriented investors. We study in
detail an investment's rent roll, expenses and capital
requirements.
An important part of our value-creation strategy depends
on the exit strategy. We focus on increasing the spectrum
of investors who would likely purchase the asset once
we've completed our value-added program. We buy institutional
quality real estate with issues we can resolve. We then
sell to that market, as the institutional market is generally
deeper and more liquid.
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Active
Investment Management
During our holding period, Endurance monitors and implements
the value enhancement business plan. This entails highly
skilled and detail-oriented leasing, marketing, maintenance,
and property management. We target NOI and asset value
growth. Endurance regularly evaluates the merits of holding
vs. selling. In doing so, we focus on our partners' goals
including their tax situations. |
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Endurance Real Estate Group, LLC
One Bala Avenue, Suite 502, Bala Cynwyd,
Pa. 19004
Phone: 610.664.8300 | Fax: 610.664.8500
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