Blackfire Real Estate Investors Investment Criteria
Blackfire’s investment strategy is focused on middle-market assets with a total cost between $2 million and $25 million. Generally, properties exhibit one or more of the following:
- Trending markets where local operators are too entrenched to recognize the change
- Priced below replacement cost
- Within path of improvement (ie. city redevelopment)
- Restrictive or insufficient capital structure of the property
- Current use of the asset is not its highest or best use
- Deterioration of the property’s physical condition requiring significant repairs
- Present ownership’s failure to aggressively manage the asset
- Market lacks sophisticated property services
- Structure of current ownership is no longer optimal or feasible
Blackfire relies on in-depth market knowledge and an extensive network of relationships to proactively identify, evaluate and execute investment opportunities. We also generate deal-flow through our market-level due diligence process by where we assess an area’s macro and micro-level economics well before specific projects have been defined. In turn, this allows us to capitalize on opportunities the moment they are made available.
While we will be opportunistic in evaluating deals outside of our focus areas, we are proactively seeking deals in the following markets:
- Nevada: Reno
- Oklahoma: Oklahoma City
- Arizona: Phoenix, Tucson
- California: Northern, Central and Southern
We have depth and breadth of experience to execute acquisitions of nearly any property type, but the following are areas of focus:
- Multifamily
- Retail
- Industrial / Flex
- Office