Joss Realty Partners LLC :: Investment Approach

Investment Approach

Target Markets

High barriers to entry and strong macroeconomic real estate fundamentals characterize JOSS’s core markets - Washington, D.C., New York City, Philadelphia, Boston and Southeastern Florida. JOSS’s strategy of owning quality assets in supply constrained markets has proven to produce strong risk-adjusted commercial real estate investment returns. Common characteristics of these markets include a tight supply of office properties due to land availability and zoning restrictions and strong demand drivers such as core industries that are indigenous to the area that consistently create job growth.

Preservation of Capital

JOSS believes in managing real estate assets for the long term. Consequently, we generally employ long term fixed-rate debt for each acquisition. This long term view enables us to manage through unfavorable real estate cycles while we implement our property-level strategic programs. Our focus is to maximize total dollar return as well as internal rate of return.

Investment Size

JOSS concentrates on deploying smaller amounts of capital as total returns on smaller transactions (<$100MM) outperform those on larger transactions (>$100MM) on a risk-adjusted basis. Generally, the competitive bidders are not institutional investors, and, therefore, do not have their investment capital well organized.

Acquisitions range from $20MM to $100MM. The equity investment size corresponds to roughly $5MM to $25MM of capital per investment.
Debt investments range from $2MM to $20MM.