SRH was founded by Edward (Eddie) Lorin and his team with a long-term plan to (1) produce attractive financial returns for its capital partners, (2) provide upgraded rental housing supply and (3) create a fully-integrated permanent real estate operating platform (4) and make lives better for all its residents by creating a sense of community both in and out of the apartment homes. Since 2008, SRH and its predecessor has experience as a sponsor/owner-operator in value-add repositioning of over 75 multifamily communities with approximately 15,000+ units in its current and previous partnerships. Additionally, operations of these communities have shown a proven track record of maintaining a leased occupancy in the mid-90% range, with the current portfolio of 5,400+ units leased at 94% as of June 2017 (more resent).
SRH’s main business focus is to acquire, finance, opportunistically reposition, manage and (eventually) sell historically underperforming multifamily properties so as to maximize risk adjusted returns on its own equity capital and on the equity of its capital partners. The acquisition pipeline includes both individual properties and portfolio purchase opportunities. Off-market acquisition opportunities are now becoming more prevalent for SRH due to its well-known position in the marketplace.
Target acquisitions are located in both historically strong and emerging economic markets. With a nationwide footprint, current assets cover 14 states and past experience covers over 25 states. SRH seeks to strategically invest in multifamily properties that it believes have the potential for significant increases in value (from expense savings and modest rental increases) and other ancillary income, strategic asset management, focused marketing and targeted capital improvement programs.
SRH PLATFORM EXPERTISE
- Sourcing, underwriting and closing on attractive acquisitions
- Assuming, supplementing and attracting debt capital
- In-house direct oversight of targeted high-ROI “value-added” capital expenditures
- Intense and results-oriented asset management
- Internalized “owner-mentality” operations management
- First-rate management and accounting software and excellent internal accounting staff
- “High-touch” investor relations culture
SRH has been highly successful in developing these capabilities, which it believes are essential “blocking and tackling” activities.
- Improve and modernize the physical exterior attributes of the asset to maximize curb appeal
- Provide “Class-A” amenities to the residents of the property
- Evaluate and focus on the quality and training of the leasing and operating staff
- Analyze any inefficiencies in operating expenses in order to maximize cash flow
The focus then shifts to improving the quality of the tenant base and increasing rents and overall revenues. Net operating income and revenues typically improve significantly in the first three years of operations.
Edward “Eddie” Lorin founded Strategic Realty Holdings, LLC as a culmination of his years of experience in investment real estate and as an offshoot of Strategic Realty Capital (SRC), which he also co-founded. Since 2008, SRC has purchased over 15,000 units in more than 70 transactions valued at over $1 Billion, and has built a strong performing portfolio. All of SRC’s apartment assets were purchased opportunistically and successfully re-positioned into thriving communities. He is an affordable housing preservationist as co-founder of his venture Alliant Strategic to preserve and breathe new life into year 15 LIHTC (Low Income Housing Tax Credit) properties. He is also the founder of Impact Housing REIT, a Reg A+ Crowdfunded Platform to buy and transform neglected apartment buildings into thriving communities that are affordable.
Prior to forming SRC, Eddie Lorin was the exclusive acquisition advisor to a large national apartment company, where he led the acquisition of 110 properties; 25,000+ units contained in over $2 Billion in real estate. He has also handled over $700 million in transactions involving Class A office buildings and retail space for Douglas Emmett/Jon Douglas Commercial, and has sold various sale-leaseback properties with Damon Raike & Company. Eddie Lorin also spent 8 years in the asset management and development of 5 million square feet of shopping centers and industrial complexes while employed by private, entrepreneurial Los Angeles investors.
Eddie Lorin is also the co-founder of the 501C-3 non-profit HAPI Foundation, which was created to promote health and wellness in apartment communities. He earned his bachelor’s degree from the University of California, Los Angeles and has been a licensed real estate broker since 1988. He is accompanied in life by his Jane and his two college age daughters Jenna and Mara.