The Herndon Real Property Fund invests in new and existing real estate around the world. For existing
properties, and variety of factors are considered before an investment is made. First among these is the
condition of the structure. We prefer buildings that are in good to excellent condition when we acquire
them. Although there is profit in rehabbing, there are also risks that many issues lurk beneath the
surface. Our business model envisions new acquisitions generating cash flow shortly after they are
purchased, which only permits time for modest reconditioning.
Beyond the structure itself, we consider the economic health of the surrounding community, Is this an up and coming neighborhood? Does it have easy access to multiple forms of transportation? Is this community prone to boom and bust cycles? A repeating theme at Herndon is quality, and this informs the Real Property Fund as well. We look for trophy assets in great places and are willing to be patient until something that meets our criteria becomes available.
In cases where existing property isn't an option, the Herndon Real Property Fund will actively develop new structures. We work with the very best talent in the world to make sure that our buildings live up to the high standards we have set for properties. We aren't afraid to do things that are extraordinary, and the goal is to erect structures that will define cities for decades and even centuries to come.
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