MPF looks for both existing assets and development opportunities that allow for the creation of value through our core competencies; utilizing historic tax credits, repositioning underperforming assets, adaptive reuse and urban infill development, community creation, flexibility in deal structure and in-house property management and development, among others. Identification and execution are critical to successful deals.
In addition to working with the brokerage community, our competitive advantage is the ability to organically grow deals over time by building relationships with both the public and private stakeholders in each community we do business or consider doing business in.
Live/work development and investment continues to be a primary focus for the company, not only because of its continued growth in demand locally and nationally, but also because it is a niche that has proven to produce higher returns, when done correctly, than traditional apartment assets.
Live/work units provide space and flexibility, attracting a lifestyle and a tenant base that results in lower turnover and operating costs, as well as a greater sense of community. In addition to the steady growth in demand for live/work space over the past 25 years, there is also a growing supply of underutilized buildings in urban cores across the country.
The emergence of major housing trends such as transit oriented development and green development have increased the popularity of adaptive reuse and urban infill development, which is typical of our Live/work projects.