Strategy

The Multifamily Opportunity

Supply/demand dynamics have reshaped the way many Americans define home. “Home” used to be a picket fence with a two-car garage and a swing set in the backyard. Today, “home” more often might be a garden apartment with a well-appointed gym, beautiful landscaping, a sizable playground and a helpful front desk ready to receive packages while tenants are at work.

Founded in 1994, Apartment Income Investors (Aii) specializes in Class B multifamily property investments in growing Western and Southwestern U.S. cities. Our investment mission is to acquire, transform and realize value from income-producing properties with significant capital appreciation potential. Our larger social mission is to transform somewhat neglected properties into vibrant places that tenants are proud and happy to call home. Aii has achieved an excellent track record investing in core-plus, value-add properties, and we have never incurred a loss on any multifamily investment. Since our founding, Aii has invested in 79 properties with a total capitalized investment cost of $483 million, including 31 multifamily properties with a total cost of $220 million.

Class B multifamily apartment homes increasingly appeal to a broad U.S. demographic including immigrant households, workers seeking quality, affordable housing and people of all ages desiring the amenities and flexibility of apartment housing. The future for Class B multifamily is bright based on the growing recognition—among property owners, policymakers and the larger population—that what’s good for renters is good for everyone. Diverse housing creates a foundation for a diverse population, which in turn supports a vibrant local economy.

Investment Principles
Investment Process