McAlister Opportunity Fund land investments are made in the geographical areas of active growth, directly in the path of development, and mature enough for development within a three to five year time frame. Land investments are generally in the range of $3 million to $10 million and primarily focus on high quality residential and retail tracts, available for opportunistic acquisition. Following acquisition of undeveloped parcels, the Fund may choose to enhance the value of the tracts through the formation of utility districts, drainage plans, flood plain / wetlands mitigation, access improvement and overall site planning.
Other activities of the company may include buying well secured discounted mortgage notes, warehousing property for developers, and participating in land-related joint ventures with developers. The principals’ strong reputations and long-standing relationships with lenders, developer/owners, as well as the brokerage community, provide continual, active sources of suitable product.
Over the years, the principals of McAlister Investment have enjoyed excellent results by selling assets on an "off-market," direct basis. Some transactions will, no doubt, occur in this way, particularly with land tracts. Acquisitions are always made with the "exit strategy" clearly in mind, and, in many cases, pre-arranged. Outside brokers are also utilized at times to enhance market exposure of each asset. The properties may be sold as single assets or small portfolios, depending on which is in demand and most attractive to the development community at the time.
McAlister Opportunity fund investments are unleveraged funds with a target of 18%+ gross annual IRR.
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