Investment Criteria


Needs-Based Assets

At Black Cap Halcyon, we prefer “needs-based” assets and those with stable cash flows, lower operating leverage profiles and a lower required amount of capital expenditures to maintain current income levels over time. Other opportunities may come from niche assets in excellent markets and strong underlying demographic and technological trends (e.g. life science/lab buildings).

Market_Cycle_Chart

Targeted Assets:

  • Apartments
  • Distribution
  • Neighborhood retail
  • Self storage
  • Medical office buildings
  • Senior independent living
  • Life science lab mixed use
  • Age-restricted MHC

At Black Cap Halcyon, we recognize the riskiness of an investment is also a function of the asset type, its operating leverage profile and the stage of the economic and commercial real estate cycle. Each investment is financed with a strategic customized capital solution that factors in these elements. Finally, we employ direct asset management oversight and specific capital expenditure plans to drive outsize gains in net operating income and, therefore, value creation.