Uncovering Value in Multifamily Real Estate: Where to Invest Now and for the Future
Croatan Investments is a private equity real estate manager focused on multifamily investments. For over 17 years, we have had a passion for uncovering new opportunities with excellent intrinsic value and the goal of preserving the trust of our investors. We are a laser-focused multifamily real estate manager with a multidimensional approach to identifying inefficiencies and dislocations that create compelling investment opportunities. We continually examine the market to find both thematical and asset-level inefficiencies where we can put capital to work in the most attractive risk-adjusted manner. Our focus centers around downside protection and alignment between us and our LPs. Croatan’s goal is to provide our LPs with access to unique investments that can earn opportunistic returns while serving as a diversified multifamily investment manager.
- Multifamily investing has historically been recession-resilient with stable, long-term returns. The market is currently experiencing positive tailwinds that include: an expansion of the market base due to a broadening renter profile, an increase in perceived value from the flexibility that renting offers, and a supply shortage of attractive apartment options.
- Institutional Grade Platform & Team – in addition to an experienced management team, we have seasoned professionals and an institutional foundation in asset management, portfolio management, acquisitions, and capital markets.
- Adaptable Execution Strategy – in addition to traditional acquisitions, we are active in development and preferred equity/mezzanine opportunities within the multifamily sector.
- Successful Track Record - we have a 17+ year track record of executing on our thesis of being nimble and opportunistic in our markets, as evidenced by our 30%+ Gross IRR and 25%+ Net IRR.
- Risk-Averse Opportunistic Investors – we find value by investing in unique and opportunistic deals, not through aggressive underwriting or financial gearing. Our agnostic and opportunistic approach is a key differentiator that positions us across market cycles, asset-level characteristics, and execution style.
- Best Ideas Investment Vehicle – the Croatan All Weather Fund is the vehicle that captures Croatans’ best ideas and individual opportunities within multifamily.
Event Recording
Uncovering Value in Multifamily Real Estate: Where to Invest Now and for the Future
- Croatan Investments - All-Weather Fund - FLAIA 2021Croatan Investments - All-Weather Fund - FLAIA 2021.pdf3 MB
Speakers
Paul Van
- Title
- Chief Executive Officer & Chief Investment Officer @
- Company
- Croatan Investments
- Role
- Speaker
Paul Van is the Chief Executive Officer and Chief Investment Officer of Croatan Investments. Maintaining the vision for Croatan is his main focus, which includes growth planning and corporate culture development. He also guides Croatan’s overall investment strategy and provides leadership to the firm’s transactions function.
Mr. Van began his career as a mergers and acquisitions investment banker at UBS in New York City and advised on transactions in the gaming, consumer product, food service, agricultural, healthcare, and technology industries. Mr. Van then transitioned to Harbor Group International where he became a Vice President of Acquisitions covering multifamily markets across the Mid-Atlantic, Southeast, Midwest and Texas.
Mr. Van is currently active with the Urban Land Institute (ULI), National Multi-Housing Council (NMHC), Alternative & Direct Investment Securities Association (ADISA), and Association of Asian American Investment Managers (AAAIM). He received his Bachelor of Arts degree from Duke University.
Eric Smith
- Title
- Chief Operating Officer @
- Company
- Croatan Investments
- Role
- Speaker
Eric Smith is the Chief Operating Officer of Croatan Investments. Executing the corporate growth plan and driving efficiency across the day-to-day operations of the firm is his main focus. He also provides leadership to the firm’s capital markets function and ground-up development investment efforts.
Mr. Smith most recently served as Chief Operating Officer and Chief Investment Officer for Armada Hoffler Properties (NYSE: AHH), a publicly-traded REIT. His experience includes a broad range of asset types, including multifamily, retail, office, mixed-use, and hospitality, across the mid-Atlantic and Southeastern U.S.
In addition to the acquisition of stabilized assets, Mr. Smith had oversight of over $1 billion of development projects during his tenure as COO and CIO of Armada Hoffler with many of these projects containing a public-private partnership component. Mr. Smith was also part of the three-member executive team that shepherded Armada Hoffler through its 2013 IPO on the New York Stock Exchange which raised in excess of $230 million.
Mr. Smith spent the early years of his career in the management consulting, international corporate finance, and investment advisory fields as well as owning his own trading seat on the New York Futures Exchange. Mr. Smith holds a Master of Business Administration from The Wharton School at the University of Pennsylvania and a Bachelor of Science in Finance from the University of Connecticut.
Adam Nelik
- Title
- Vice President, Capital Markets @
- Company
- Croatan Investments
- Role
- Speaker
Adam Nelik is a Vice President of Capital Markets for Croatan Investments. He is primarily focused on building and expanding the firm’s private wealth investor base, joint venture partnerships, and institutional relationships.
Prior to Croatan, Mr. Nelik was a director for Henley USA and held previous posts at Morgan Stanley Investment Management, TD Ameritrade, and Morgan Stanley Wealth Management. Over the course of his career, Adam has successfully raised capital for both alternative and traditional strategies, covering both direct- and fund-level investments for a variety of clients. He received his Bachelor's degree in Finance from Pennsylvania State University and earned his Master's of Business Administration from New York University's Stern School of Business. Mr. Nelik currently holds a Chartered Alternative Investment Analyst (CAIA) designation as well as Series 7 and 66 licenses.
About
Croatan Investments
Croatan Investments is a private equity real estate manager focused on multifamily investments. We have a passion for uncovering new opportunities with excellent intrinsic value. Founded in 2004, our track record is built upon our opportunistic nature, agnostic approach, and nimble execution. We adapt our strategy across all stages of the market cycle, maintain investment flexibility to consistently achieve attractive risk-adjusted returns, and preserve the trust of our investors.
Our firm is comprised of real estate professionals who intimately understand our target markets, continually assess the dynamic multifamily landscape, and skillfully execute on each asset’s business plan. Our proven success is a reflection of our commitment to excellence, discipline, and expertise. Headquartered in Virginia Beach, VA, Croatan has team members operating in Austin, Dallas, Atlanta, New York City and Singapore. Our portfolio currently consists of multifamily assets across the Mid-Atlantic and Sun Belt regions. Croatan Investments is proud to be a certified minority-owned company.