OPPORTUNISTIC WORKFORCE HOUSING: The Challenges and Rewards of Opportunistic Investing

Hosted by Sunstone Properties Trust
September 30, 2021
1:00 PM - 1:30 PM ET
Keynote

Sunstone Properties Trust will discuss its strategy in dealing with the acquisition of distressed multifamily properties. Unlike value-add, the firm’s primary investment strategy, Sunstone uses its construction expertise to bring severely damaged properties suffering from storm damage, extreme deferred maintenance or poor management due to financial stress back to life.

Rob Egbert, President of Sunstone Builders, will describe the company’s approach to the deep renovation/reconstruction process necessary to turn a sometimes-uninhabitable property into much needed, quality workforce housing units. As a member of Sunstone Properties Trust’s Investment Committee, Rob is involved prior to any acquisition to assess the scope and feasibility of the project as well as the tangible elements of the real asset.

Rob will highlight two of Sunstone’s recent opportunistic projects, one of which was emptied of tenants and “stripped to the studs” after Hurricane Harvey and the second which was vacant for ten years due to Hurricane Ike and subsequent legal battles. Some other topics Rob will cover include:

  • Evaluating opportunistic projects up front – what’s behind the walls?
  • Comparing value-add repositioning to deep renovation/reconstruction
  • Supply chain management in the current environment
  • Cap rate compression and its effect on the value-add strategy

Event Recording

OPPORTUNISTIC WORKFORCE HOUSING: The Challenges and Rewards of Opportunistic Investing

00:31:02

Speaker

  • Rob Egbert

    Title
    Managing Director, Construction and Development
    @
    Company
    Sunstone Properties Trust
    Role
    Speaker

    In his role as President of Sunstone Builders, Mr. Egbert oversees all development, new construction and renovation of Sunstone’s value-add projects. He is a licensed general contractor experienced in both commercial and residential development and is a member of Investment Committee. Prior to Sunstone, Rob worked for Sundance Bay Multifamily and founded Rocky Mountain Concrete Supply. He earned a B.S. in finance from Brigham Young University's Marriott School of Management.

About

Sunstone Properties Trust

Sunstone is a fully integrated real estate operator, developer and fund sponsor in business since 2012. After 30 years in the commercial real estate business, the founders of Sunstone chose workforce multifamily housing as a sector because of its solid performance throughout varying economic cycles. Sunstone performs its own architectural design work, construction, asset management and fund management to achieve maximum efficiency, cost containment and investor returns. Its acquisition team sources transactions with proprietary software and a network of local brokers. Capital markets works with investors and lenders to optimize Sunstone's access to debt and equity. Risk is managed through a comprehensive due diligence and underwriting process with investment committee oversight. Hands-on portfolio management is effected from acquisition through disposition. Sunstone's markets include Texas, Florida, California, Arizona and Nevada.