JF3847: Fund Structure Flexibility, Multifamily Acquisition Strategy, & Strategic Market Selection ft. Percy Nikora

The Best Ever CRE Show

Best Ever CRE

Realestatepodcast, Entrepreneurship, Business, Realestate, Investing, Realestateinvesting, Realestateinvestingpodcast

4.8 • 983 Ratings

🗓️ 17 March 2025

⏱️ 28 minutes

🔗️ Recording | iTunes | RSS

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Summary

On this episode of the Best Ever CRE Show, Joe Fairless interviews Percy Nikora, co-founder of Penn Capital, which manages approximately $230 million in multifamily assets. Percy shares insights on their hybrid capital-raising approach, offering both fund and individual deal investment options to accommodate different investor preferences. He explains how they've executed 12 syndications and recently launched a $50 million fund that has already acquired three properties with about $20 million in equity. Percy discusses their market selection criteria, focusing on areas with strong job and population growth like Huntsville, Alabama and strategic locations in North Carolina. He candidly addresses challenges they've faced, including unexpected property tax increases and floating rate debt in a challenging market, while also sharing their impressive track record of 23.5% average IRR to LPs across their five property exits. Throughout the conversation, Percy offers valuable insights on working with institutional investors, including structuring partnerships with major check-writers and maintaining the detailed reporting relationships these investors expect. Percy Nikora | Real Estate Background Managing Partner at Penn Capital Based in: Philadelphia, PA Say hi to them at: www.penncapitalgroup.com Sponsors: Vintage Capital Capital Gains Tax Solutions Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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0:05.3	recession resilient asset class? If that sounds good to you, then let me introduce you to
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0:14.8	resilient mobile home parks. Direct investments and 1031s are available as well. Why mobile home parks?
0:22.0	The average mobile home park tenant stays 10 to 12 years.
0:25.5	That's more than four times as long as the average multifamily resident.
0:29.5	On top of that, onus depreciation enhances the tax benefits.
0:33.3	And with the demand for affordable housing higher than ever,
0:36.6	mobile home parks can provide
0:37.8	steady, reliable income, even in a shaky economy.
0:41.9	Plus, Vintage Capital is a group with an $80 million cycle-tested track record.
0:47.9	So, if you're ready to invest in stable, income-generating properties with consistent demand
0:53.3	and low-tenant turnover?
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	...

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