ABOUT US
Four Four Capital is a Denver-based real estate investment firm founded in 2010. The firm focuses on acquiring, improving, and developing multifamily and senior living communities across both conventional and affordable housing sectors. Free from traditional fund constraints, Four Four Capital can move quickly and execute transactions with flexibility and precision.
MARKETS WE COVER
Affordable: Senior & Family LIHTC
Market Rate: Multifamily & Senior Living
ACQUISITION CRITERIA
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INVESTMENT CRITERIA
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60 unit minimum size for family LIHTC and senior LIHTC
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150 unit minimum size for market rate multifamily and senior living
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2000 or newer construction
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Class A or B construction
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Markets over 100,000 population
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Not reliant on any single educational institution, employer, or government/military facility
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Open to secondary markets and bedroom communities of first tier markets
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Prefer affordable and mixed-income senior communities with average AMI near 50% when extended-use remains 5+ years
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Prefer deeper affordability (below 50% AMI) when extended-use expiration is within 3–5 years to capture near-term rent lift potential
RETURN CRITERIA
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Demonstrable discount to replacement cost, depending on how much repositioning and time is needed to correct course
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5%+ cash yield likely within the second year of ownership
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Does not need to have positive cash flow or positive NOI at closing
TRANSACTION TYPES
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Affordable housing - family LIHTC and senior LIHTC
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Distressed assets
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Development of additional phases
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Foreclosures & short sales
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Off market
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Highly motivated sellers
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Buyer-paid broker fees - we aggressively compensate for strong off market opportunities
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Rehab / deferred maintenance / "problem" properties
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Market rate assets
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Core Plus
SENIOR LIVING SITE ACQUISITION CRITERIA
SITE CRITERIA
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Secondary and tertiary markets such as Lexington, KY and Greenville, SC, not major markets like Atlanta or Chicago [suburbs outside of these markets may be acceptable.
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Markets with a high population of seniors age 75+ with an annual household income of $35,000 or greater
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Markets with a high population of people age 45-65 with an average household income of $75,000 or greater
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Areas with both historical population growth and projected population growth
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8 acre minimum
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Near major shopping and dining; also near major higher end neighborhoods
