We pursue a diverse real estate portfolio with a focus on the southeastern United States. We target assets independently and in strategic joint ventures with local sponsors. We capitalize our investments with reasonable leverage, third-party equity and our own capital. As such, Coro is an owner/operator rather than an intermediary.
We strive for a diversified portfolio including the following:
Mixed-Use, Office, Residential (single and multifamily) and Retail.
Geographic diversification across multiple markets and within individual markets, with a particular emphasis on higher income urban and close-in suburban projects.
Tenant diversification, including national, regional and local credit tenants representing a variety of business types.
Multifamily, Office and Retail leasing strategies designed to minimize tenant turnover in any particular year and to minimize operating expenses.
Residential sales strategies designed to maximize absorption and volume.
Our investment and return goals are based on risk-adjusted objectives. This flexibility enables us to pursue investments across the risk spectrum from ground-up development to Core acquisitions.
Core/Core+. We target high-quality, stabilized real estate for long-term rent growth and value appreciation with the ability to "ride out" a recession or to be sold quickly in response to market changes.
Development. Directly and through our relationships with skilled local developers, we pursue a variety of high quality developments with yields materially in excess of those available through purchases of comparable existing properties. In addition, we offer the full-service asset and property management, construction and leasing functions needed to execute all phases of a development strategy.
Recapitalization/Restructuring. Due to our financial resources and ±3 million square foot portfolio, we possess the relationships needed to target a full range of tenants. We also target properties where our senior staff and asset managers can restructure the capital stack to achieve the optimal debt/equity ratio and maximize operating cash flows.
Value-Add. We reposition well-located existing assets, with leasing, sale, and development potential. Through our construction, leasing, management and asset management platform, we opportunistically purchase value-add properties, reposition those properties to improve their fundamentals and operations, then sell them to buyers willing to pay premiums for quality, stabilized properties.
We target properties in need of improvements to some or all of the following: