Boutique investment company focused on multifamily acquisitions in the Pacific Northwest.

We focus exclusively on multifamily properties—apartment buildings and townhome communities—in the Portland Metro area. Our sweet spot is B and C class properties with 20 to 75 units, typically garden-style or townhouse construction from the 1980s or newer. We target family-oriented unit mixes with predominantly 2 and 3 bedroom layouts, as these generate stable demand from working families seeking affordable housing in suburban Portland markets.

B and C class properties offer several advantages in the current Portland market. First, they serve the workforce housing segment, which has consistent demand regardless of economic cycles. Working families need affordable, quality housing—that demand doesn't disappear during downturns. Second, these properties typically offer better cash flow and in-place yields compared to luxury apartments, which often sacrifice yield for appreciation potential. Third, there's less new construction competition at this price point, as developers focus on higher-end projects. Finally, B and C properties offer more value-add opportunities through modest renovations and improved management, allowing us to increase rents while still maintaining affordability.

Our primary focus is East Portland and the inner-ring suburbs: Gresham, Troutdale, and Fairview. These markets offer strong fundamentals including good schools, transportation access, and employment centers, while maintaining relative affordability compared to central Portland. We also consider opportunities in Clackamas County and Washington County when they meet our acquisition criteria. We avoid central Portland's urban core due to higher acquisition costs, rent control concerns, and weaker cash-on-cash returns. Our target markets have limited new construction pipelines, stable demographics, and room for rent growth as Portland's affordability challenges push residents eastward.

We use a combination of conventional financing and assumable loans when available. For most acquisitions, we secure conventional multifamily loans through local and regional banks that understand the Portland market. These typically require 25-30% down payment and offer 20-25 year amortization. When sellers have existing favorable financing—particularly low fixed-rate loans originated before interest rates rose—we prioritize assuming those loans to maintain advantageous terms. We also evaluate properties with Freddie Mac or Fannie Mae agency debt that can be assumed. Our conservative leverage approach targets maximum 75% loan-to-value, ensuring we maintain sufficient equity cushion and cash flow even if market conditions soften.

We target minimum 6% cap rates on acquisition, with cash-on-cash returns in the 7-10% range depending on leverage and value-add potential. Our investment thesis prioritizes stable cash flow and long-term wealth preservation over speculative appreciation. We underwrite conservatively, assuming modest 2-3% annual rent growth and budgeting for realistic vacancy and maintenance costs. Our hold period is typically 7-10 years, though we're prepared to hold longer if market conditions warrant. The combination of cash flow, mortgage paydown, and moderate appreciation has historically generated attractive risk-adjusted returns while maintaining downside protection.

Currently, Berez Investment Group operates as a private investment company focused on our own capital deployment. We are not structured as a fund and do not solicit outside investors. Our boutique approach allows us to move quickly on acquisitions, maintain operational flexibility, and take a truly long-term view without external pressure for distributions or exits. If you're interested in discussing potential partnership opportunities on specific deals, we're open to conversations on a case-by-case basis for qualified partners who share our investment philosophy.

Our value-add timeline depends on the property's condition and scope of improvements needed. For light renovations—updating unit interiors with new flooring, paint, fixtures, and appliances—we typically complete work as units turn over naturally, spreading improvements over 12-24 months. This approach minimizes vacancy loss while capturing rent increases incrementally. For more extensive repositioning including exterior improvements, amenity upgrades, or common area renovations, we front-load capital investment in the first 6-12 months after acquisition. Major projects like siding replacement, parking lot repaving, or amenity additions happen during favorable weather and are planned to minimize disruption to residents. Our goal is value creation through steady improvement, not aggressive flip strategies that sacrifice quality or resident experience.

We partner with experienced third-party property management companies that specialize in workforce housing in the Portland market. Professional management handles day-to-day operations including tenant screening, rent collection, maintenance coordination, and lease enforcement. However, we maintain active oversight through monthly financial reviews, quarterly property inspections, and approval authority over major decisions including capital expenditures, significant vendor contracts, and strategic initiatives. This hybrid approach combines professional management expertise with hands-on ownership involvement, ensuring properties are well-maintained while operating efficiently.

Yes. We are actively seeking acquisition opportunities that meet our criteria. The current market presents compelling opportunities as interest rate increases have slowed transaction volume, creating less competition for well-located, cash-flowing properties. We're particularly interested in properties with assumable low-rate financing, deferred maintenance that we can address through our renovation expertise, or operational inefficiencies that can be improved through better management. If you have a property that fits our acquisition criteria—or know of one coming to market—we'd welcome the opportunity to discuss a potential transaction.