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Investing in Real Estate

Perspective guides investing.

Grubb Properties’ mission is to create places to live and work that inspire community, enables mobility, encourages wellbeing and delivers value. We invest in branded, moderate-priced rental housing and value-oriented office properties with land that can be converted to Link Apartments® sites through zoning and shared parking.

This real estate investment strategy provides a solid, defensive investment thesis as a result of its demographic-driven demand strategy and is proven by a long and consistently strong fund track record.

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QUICK STATS

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Total real estate assets under management

Total real estate assets under management as of September 30, 2023.

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Value upon sale

Since 2002, we have realized 43 of those investments, totaling over $1.6 billion in value upon sale.

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Gross weighted average IRR

Achieving a 2.0x equity multiple at the property level and utilizing less than 52% property level leverage at the time of sale.

INVESTMENT STRATEGY

Our investment strategy focuses on essential housing, which we believe to be one of the most resilient and needed asset classes.

Despite a backdrop of the biggest need, there is little new construction within this crucial sector. For the investor, essential housing provides a stronger margin of safety than building luxury apartments, because essential housing is driven by demographics rather than by how well the economy is performing at any given moment. The large Millennial and Gen Z populations are already facing a housing shortage, and the cost pressures constraining the supply are only going to intensify over the next few years.

This is not to be confused with workforce housing, which largely serves middle income working families through existing rental product. It often has a greater number of configurations with 2-4 bedrooms and is typically located in suburban areas close to schools. While this is a critically important component of the U.S. housing stock, these unit configurations and locations largely do not fit the needs of younger people entering the workforce today.

By targeting the often-overlooked middle population, essential housing not only reaches a larger and drastically underserved audience, but also provides an opportunity for investors to participate in a resilient, low-competition and risk-mitigated strategy.

Link ApartmentsSM

We pursue Essential Housing through our Link ApartmentsSM developments where Grubb Properties has made a commitment to developing highly innovative, efficient, scalable, and branded solutions that help fill the growing essential housing gap across the United States. Our focus is on location - urban, transit-oriented, close to major fixed employers (e.g., universities, medical centers) and price point with target rents affordable to residents earning 60-140% of the local area median income.

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Multifamily and Office Investment

Our current investment strategy is born from our deep experience in both multifamily and office investment. This plays out in methods such as our innovative site selection, which helps us reduce costs. For example, in many markets we acquire office buildings in urban infill locations with acres of surface parking. We then develop a Link Apartments℠ community on that land, with a parking garage that is shared between the tenant and resident uses. This alternative real estate investment strategy saves us construction costs and provides a steady non-tenant revenue stream, allowing us to pass the savings on to our residents.

Dual Market Strategy

Our dual market strategy positions us for maximum success.

Resilient – Major U.S. markets such as Denver, Los Angeles, New York, San Francisco and Washington D.C., have a demonstrated history of lower correlation to traditional economic cycles. In these markets, new supply has slowed, exacerbating the housing crisis, leading to future rental opportunity.

Growth – Secondary U.S. markets such as Atlanta, Charlotte, Nashville, and Raleigh are usually more cyclical, but with substantially higher growth dynamics during expansions. Their urbanization fits our value-add office strategy with parking conversion to moderately priced apartment sites.

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ACTIVE MARKETS
  • Resilient
  • Growth
map
Washington, DC Metro Area
New York
Chapel Hill
Raleigh-Durham
Richmond
Winston-Salem
Charlotte
Triad
Atlanta
Charleston
Greenville
Charlotte
Memphis
Atlanta
Los Angeles
Bay Area
Long Island
Hempstead
Washington, DC Metro Area
Los Angeles
Denver
Charlotte
Chapel Hill

Tier 1 - Resilient

  • Washington, DC Metro Area
  • New York
  • Los Angeles
  • Bay Area
  • Hempstead
  • Washington, DC Metro Area
  • Los Angeles
  • Denver

Tier 2 - Growth

  • Chapel Hill
  • Raleigh-Durham
  • Richmond
  • Winston-Salem
  • Charlotte
  • Triad
  • Atlanta
  • Charleston
  • Greenville
  • Charlotte
  • Memphis
  • Atlanta
  • Charlotte
  • Chapel Hill

Washington, DC Metro Area

Property Size Asset Type
Reston Corners Commercial 294,031 sq ft
Link Apartments® Reston Multifamily 145 units
Argon Plaza Commercial 274,930 sq ft
Link Apartments® Rhode Island Ave Multifamily 234 units
Beauregard Office Commercial 211,025 sq ft
H Street Multifamily 191 units

New York

Property Size Asset Type
Link Apartments® 8 Carlisle Multifamily 429 units

Chapel Hill

Property Size Asset Type
Gwendolyn Office Building Commercial 106,000 sq ft
Glen Lennox Shopping Center Commercial 26,032 sq ft
Glen Lennox Apartments Multifamily 356 units
Linden Multifamily 215 units
Calyx Multifamily 305 units
137 E Franklin Commercial 118,517 sq ft
UNC Office / Lab Commercial 237,000 sq ft
Link Apartments® Rosemary Multifamily 165 units

Raleigh-Durham

Property Size Asset Type
Edinburgh Cary Office Commercial 134,017 sq ft
Harrison Cary Office Commercial 30,352 sq ft
Glenwood South Multifamily 204 units

Richmond

Property Size Asset Type
Manchester Multifamily 187 units

Winston-Salem

Property Size Asset Type
Innovation Quarter Multifamily 344 units
Brookstown Multifamily 205 units

Charlotte

Property Size Asset Type
Link Apartments® Montford Ph I Multifamily 288 units
Link Apartments® Montford Ph II Multifamily 265 units
Mint Street Multifamily 259 units
1515 Montford Park Commercial 123,115 sq ft
4601 Park Road Commercial 118,650 sq ft
Elizabeth Avenue 1523/1535 Commercial 48,905 sq ft
NoDa at 36th Commercial 128,000 sq ft
Link Apartments® NoDa at 36th Ph I Multifamily 292 units
Link Apartments® NoDa at 36th Ph II Multifamily 242 units

Triad

Property Size Asset Type
Triad Center Commercial 394,600 sq ft
Link Apartments® 4th Street Multifamily 224 units

Atlanta

Property Size Asset Type
2400 Lake Park Commercial 104,694 sq ft
Grant Park Multifamily 246 units
The George and The Leonard Apartments Multifamily 217 units
The Park at Perimeter Center East Commercial 284,538 sq ft

Charleston

Property Size Asset Type
Mixson Multifamily 358 units

Greenville

Property Size Asset Type
West End Multifamily 215 units

Charlotte

Property Size Asset Type
Link Apartments® Montford Ph II Multifamily 265 units
Mint Street Multifamily 259 units
Link Apartments® Montford Ph I Multifamily 288 units
1515 Montford Park Commercial 123,115 sq ft
4601 Park Road Commercial 118,650 sq ft
Elizabeth Avenue 1523/1535 Commercial 48,905 sq ft
NoDa at 36th Commercial 128,000 sq ft
Link Apartments® NoDa at 36th Ph I Multifamily 292 units
Link Apartments® NoDa at 36th Ph II Multifamily 242 units

Memphis

Property Size Asset Type
Broad Ave Multifamily 370 units

Atlanta

Property Size Asset Type
2400 Lake Park Commercial 104,694 sq ft
Grant Park Multifamily 246 units
The George and The Leonard Apartments Multifamily 217 units
The Park at Perimeter Center East Commercial 284,538 sq ft

Los Angeles

Property Size Asset Type
1353 N Western Avenue Multifamily 65 units
Solana Multifamily 70 units
NoHo Multifamily 125 units
Kora Multifamily 228 units
Korella Multifamily 77 units
Vine Multifamily 153 units

Bay Area

Property Size Asset Type
Link Apartments® Four12 Multifamily 157 units
Link Apartments® Palo Alto Multifamily 102 units

Long Island

Property Size Asset Type
QPN Multifamily 416 units

Hempstead

Property Size Asset Type
Hempstead Multifamily 166 units

Washington, DC Metro Area

Property Size Asset Type
Link Apartments® Reston Multifamily 145 units
Argon Plaza Commercial 274,930 sq ft
Link Apartments® Rhode Island Ave Multifamily 234 units
Reston Corners Commercial 294,031 sq ft
Beauregard Office Commercial 211,025 sq ft
H Street Multifamily 191 units

Los Angeles

Property Size Asset Type
1353 N Western Avenue Multifamily 65 units
Solana Multifamily 70 units
NoHo Multifamily 125 units
Kora Multifamily 228 units
Korella Multifamily 77 units
Vine Multifamily 153 units

Denver

Property Size Asset Type
Fitz Multifamily 405 units

Charlotte

Property Size Asset Type
Link Apartments® Montford Ph I Multifamily 288 units
Link Apartments® Montford Ph II Multifamily 265 units
Mint Street Multifamily 259 units
1515 Montford Park Commercial 123,115 sq ft
4601 Park Road Commercial 118,650 sq ft
Elizabeth Avenue 1523/1535 Commercial 48,905 sq ft
NoDa at 36th Commercial 128,000 sq ft
Link Apartments® NoDa at 36th Ph I Multifamily 292 units
Link Apartments® NoDa at 36th Ph II Multifamily 242 units

Chapel Hill

Property Size Asset Type
Calyx Multifamily 305 units
Gwendolyn Office Building Commercial 106,000 sq ft
Glen Lennox Shopping Center Commercial 26,032 sq ft
Glen Lennox Apartments Multifamily 356 units
Linden Multifamily 215 units
137 E Franklin Commercial 118,517 sq ft
UNC Office / Lab Commercial 237,000 sq ft
Link Apartments® Rosemary Multifamily 165 units

INVESTOR EXPERIENCE

Expect a higher level of service.

We believe outstanding personal attention is one reason many of our investors have been with us for years.

Learn More on Investor Experience
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RESPONSIBLE REAL ESTATE (ESG)

We take a bigger world view.

In line with the UN Sustainable Development Goals (SDGs) framework, we’re creating places that make a significant difference.

Learn More on ESG

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