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.
Total real estate assets under management as of September 30, 2023.
Since 2002, we have realized 43 of those investments, totaling over $1.6 billion in value upon sale.
Achieving a 2.0x equity multiple at the property level and utilizing less than 52% property level leverage at the time of sale.
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.
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.
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.
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.
Tier 1 - Resilient
Tier 2 - Growth
New York
Property | Size | Asset Type |
Link Apartments® 8 Carlisle | Multifamily | 429 units |
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 |
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 |
Triad
Property | Size | Asset Type |
Triad Center | Commercial | 394,600 sq ft |
Link Apartments® 4th Street | Multifamily | 224 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 |
Atlanta
Property | Size | Asset Type |
The George and The Leonard Apartments | Multifamily | 217 units |
2400 Lake Park | Commercial | 104,694 sq ft |
Grant Park | Multifamily | 246 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 |
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 |
Long Island
Property | Size | Asset Type |
QPN | Multifamily | 416 units |
Hempstead
Property | Size | Asset Type |
Hempstead | Multifamily | 166 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 |
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 |
We believe outstanding personal attention is one reason many of our investors have been with us for years.
Learn More on Investor ExperienceIn line with the UN Sustainable Development Goals (SDGs) framework, we’re creating places that make a significant difference.
Learn More on ESG