Multifamily Investment Overview

# of Multifamily Properties Acquired

2,783

# of Multifamily Units Acquired

2.86x

Realized MOIC on Multifamily

>9.3%

Realized C-o-C on Multifamily

~17.5%

Realized IRR on Multifamily

Excelsa made its first investment in the US back in 2009, starting with multifamily units in the DC Area. As Excelsa transitioned into an asset manager, we ramped up our US deal sourcing team and expanded our geographic focus to cover more ground in the market. Excelsa’s multifamily investments target a strong yield performance with a return upside typically driven by a value add program.

Investment Vehicles

2009-2011

First Investment

Started out as a family office with a buy-and-hold strategy investing in multifamily in the DC Area (Aquila Portfolio)

2013

First Syndications

Office investment in Charleston, SC
Student housing investment in Charleston, SC

2015

First Exit

2018

Launch of Excelsa US Real Estate I LP (EUSRE I)

Excelsa fully transitioned to an asset manager.
The company acquired 10 properties between 2018 and 2022, with six exits so far.

2022

Launch of Excelsa US Real Estate II LP (EUSRE II)

Acquired 3 properties in 2022

Portfolio Snapshot

Our multifamily portfolio is diversified geographically and we have built an expertise in value add properties that deliver higher returns

Deal parameters

Prefered deal size: $40-$150 MM

Prefered equity ticket: $10-$50 MM

Note: Figures include Columbia Pointe (under contract), a part of Excelsa US Real Estate II, LP

Acquisition Timeline

Our deal execution is designed to optimize returns at every stage of the market cycle.

2009

Merdian Heights
Washington, DC

2010

Hillside Heights
Capitol Heights, MD

2011

Holmead, Buena
Vista, and 1430 W Washington, DC

2015

Hillside Heights
Capitol Heights, MD

2018

The Park
The Commons
The Point
The Trails
The Lofts
Gainesville, FL

2019

Bend at Oak Forest
Houston, TX

2020

Aspen at Mercer Crossing
Dallas, TX

2021

Tribeca at Camp Springs
Camp Springs, MD

Fox Hunt Farms Apartments
Fort Mill, SC

2022

Coventry
Green
Apartments
Goose Creek, SC

Acquisitions

Exits

Aquila Invest

EUSRE I

EUSRE II

Why Multifamily?

Multifamily investments deliver attractive risk-adjusted returns with relatively low volatility.
Over the past 25 years, multifamily investment has had the highest average returns of any commercial real estate asset class, with the lowest levels of risk in return performance.

Attractive Returns

Lower Volatility

Favorable Demographic Conditions

Strong Hedge Against Inflation

Lower Borrowing Costs

Large Liquid Markets for Acquisitions/Exits

Regional Focus

We favor geographic areas that are experiencing positive job growth and migration with a focus on the Sun Belt.
As we grow, we continue to expand our market coverage to compelling markets in the Western United States.