37urban focuses on acquiring assets in primary and secondary markets with evolving and re-densifying urban cores that have significant value-add upside, and opportunities for cash flow expansion. Typical hold time for assets is 3-5 years, with repositioning plans fully executed within 12-24 months of acquisition. By implementing operational and managerial efficiencies and its own vertically-integrated repositioning team, 37urban is capable of creating a clear strategy for profitability.

Generally, our theory for asset management and value-add is three-fold:

  • identify revenue losses with strategic management implementation; increase revenues immediately

  • implement amenities that add more revenue to bottom line (i.e. in hotel settings, adding food and beverage)

  • extend marketing operations to bolster peak leasing or booking opportunities (i.e. extend the season in coastal hotels, increase rents with investment in to unit interiors, etc)

“Affordability is going to continue to be a crisis for primary markets, we work day-in and day-out to come up with alternatives for it that are sustainable and enjoyable. ”
— Taylor Perkins, Managing Principal, 37urban

Past projects

  • Terrace 9 Condominiums: 12-unit condominium development in Austin, TX. Converted to condos, now highest condo PPSF in neighborhood and flourishing community. sold for 2.5x basis in 16 months. (actualized)

  • Hyde Park Studios: 32-unit garden-style MF complex, Austin, TX. Repositioned, sold for 2x owners basis in 24 months. (actualized)

  • The Avenel: 34-unit condominium development, Austin, TX. Full condo conversion for ownership group facilitated by 37urban. Record sales ppsf for the neighborhood, all condos sold in less than one year. (actualized)

  • Peppertree Apartments: 18-unit garden-style MF project, Austin, TX. Sold for 2.5x basis for partners within 18 months of acquisition. (actualized)

  • The 305: 32-unit garden-style MF property Austin, TX. Fully repositioned, sold for ownership group; sold for 2.5x purchase price in 26 months. (actualized)

  • Hartford Heights: 12-unit condominium development, Austin, TX

  • The Miriam: Hotel and Residences, Austin, TX (currently under management)

  • la Dueña Residences: Corporate furnished turn-key residences, Austin, TX

    Pressler Park I, II: Unique mixed-use complex on 4 acres in downtown Austin, TX.

  • Riverchase Apartments: Nashville, TN. 212 units, 14.5-acre garden-style MF property. Sold for 3x in three years. (actualized)

  • Highland Cove: Nashville, TN. 208 MF units, 13-acre garden-style MF property. Returned capital to investors with 2x return in just 90 days. (actualized)

  • Bristol Ridge Apartments: ____-unit garden-style MF development in Nashville, TN. Sold at 54% IRR to partners in 18 months. (actualized)

  • Stone Ridge Apartments: __-unit garden-style MF project in Nashville, TN. Sold for 54% IRR to partners in 18 months. (actualized)

  • York Beach Surf Club: York, ME Oceanfront Resort-Distressed Ownership Acquisition during Covid-19 fully repositioned, opening in Summer 2022

  • Sea Latch Motor Inn: York, ME Oceanfront Resort-Distressed Ownership Acquisition during Covid-19, currently open/performing