From the Desk of CF Capital: November 2022 Investor Report
Dear Friends and Investors,
We hope you're doing well and having a wonderful beginning to your November. Our CF Capital family has settled into our new Downtown Louisville Office, our families had an eventful Halloween, and we've been productive on the asset management and acquisitions fronts. Tyler shared a Halloween Horror Story on the highly acclaimed "Real Estate Guys Radio" Program, and you won't want to miss it. (Listen to the podcast on Apple Podcast or on Spotify.
As of October, upon returning from the phenomenal New Orleans Investment Conference, we finally settled into our new space on Main Street in Downtown Louisville! We'd love to host you the next time you're in town, whether you're in to enjoy the world-famous bourbon trail, check out a world-class horse race, or get onsite to some of our collectively owned properties in the area. We're always welcoming you with open arms to come say hello, and have enjoyed hosting several investors over the recent months.
On the business front, we've been investing heavily into the execution of our investment business plans at our current communities via detailed asset management, working with our on-site and regional teams in an effort to exceed our property goals for the quarter and for the year. On the renovation side, we're currently investing over $7mm in capital expenditures across our portfolio - in amenity enhancements, unit renovations, and exterior improvements. This past month, we repaved and re-striped two of our most recent acquisitions' parking lots, overhauled the landscaping and installed new on-site signage. Our rehab teams are busy renovating dozens of units each month, and our leasing teams are busy securing qualified residents at premium rental rates. We're focusing on driving occupancy, revenue and optimizing net operating income (NOI).
On the acquisitions side, we're very active in the market making a healthy amount of offers on deals; we're seeing some more attractive opportunities than we have in the past few years. The recent market turmoil is starting to shake loose more compelling deals, and we're anticipating our next opportunity for you to invest with us to be coming soon. While the cost of debt has substantially risen in recent months, the resulting market dynamics are more compelling than we've seen in a long time; it's now just a matter of putting the Rubik’s Cube of the capital stack together in a manner that allows us to amplify returns, protect capital, and optimize our investments. As you know, we remain picky, patient and prudent, and when we secure an acquisition, it's passed the rigorous standards that we have set. Stay tuned, and we hope to be announcing the next new deal soon.
In Partnership,
Tyler & Bryan
P.S. There's no higher compliment than you referring us to your friends, family, and colleagues. We'd be honored by the opportunity to become a part of their trusted networks. Share your experience investing with CF Capital & invite others to become an investor here.
