1 PRG Phoenix Realty Group FOA Fall Global Summit.

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Presentation transcript:

1 PRG Phoenix Realty Group FOA Fall Global Summit

2 PRG Residential Real Estate

3 PRG PRG Institutional Investors

4 PRG Behind Today’s Housing Markets The Role of Leverage U.S. Public/Private Debt as a % of GDP – 1920 to Date Public/Private Deleveraging Balance Sheet driven “Reset” following highest levels debt in U.S. history. U.S. Consumer Savings Rate Reversing several decades long trend for the first time in 50 years.

5 PRG Today’s Housing Markets Housing Prices Down 30%

6 PRG Today’s Housing Markets Rental Occupancy Below 90% - Reduced Rents

7 PRG Today’s Housing Markets Multifamily Production at 20-year Low

8 PRG Today’s Housing Markets Multifamily Pricing Returns to 2001 Spreads

9 PRG The Future for Multifamily Supply is Limited –Starts at historical lows –Rising interest rates will suppress development Demand is Brewing –Occupancy at historical lows –Economic recovery and “Millennial” generation on horizon

10 PRG Target Product Types Stabilized Rental Broken Condos Failed Condo Conversions/ High-vacancy Rental New Development for Rental

11 PRG Stabilized Rental Baltimore Apartments La Mesa, CA 406 Units

12 PRG Stabilized Rental Baltimore Apartments La Mesa, CA 406 Units

13 PRG Broken Condos Trio Apartments Palisades Park, NJ 71 Units

14 PRG Broken Condos Trio Apartments Palisades Park, NJ 71 Units

15 PRG Failed Condo Conversions Laguna Bay Apartments Naples, FL 368 Units

16 PRG Failed Condo Conversions Laguna Bay Apartments Naples, FL 368 Units

17 PRG Distressed Owners and Half-Builts

18 PRG Investment Structures Public Funds Private Funds Direct Ownership Partnerships

19 PRG Phoenix Realty Group FOA Fall Global Summit