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Current company Allagash Pere Investment Management, Llc
Real Estate · 5 employees · Founded 2023 · Mechanicsville, Virginia, United States
Allagash PERE Investment Management, LLC (\"APIM\") invests into and manages primarily small-format multifamily (\"SFM\") rental properties, generally with 2-50 units, affordably serving moderate-income households making 60%-100% of their area median income. SFM has long been an institutionally disregarded sector of the residential real estate market. With local and regional non-professional ownership filling the void, SFM tenant households have chronically suffered under-maintained and under-managed housing. APIM strives to institutionalize the SFM sector in order to affordably provide safe, comfortable, stable housing for moderate-income families and compelling returns with limited risk to investors. In order to accomplish these objectives, Allagash, an investment management company founded in 2023 with offices in New York City, Richmond, and Denver, offers commingled investment vehicles and separately managed accounts that enable investors – both alternative and traditional, institutional and retail – to capitalize on the seemingly intractable shortage of rental housing which is affordable for moderate-income households throughout the U.S. Each of the Allagash’s five Founding Co-Managing Principals have over 25 years of commercial real estate, asset management, and financial markets experience with the large majority of that time being focused on serving low-/moderate-income communities. Allagash was founded on three basic principles: • With a foundational underpricing of SFM propertIes, investments in SFM affordably serving moderate-income communities should enable investors to generate outsized returns without being exposed to excessive risk. • Providing affordable housing to moderate-income households, the largest and least supported US socio-economic bracket, must be effected in a positively impactful way. • The combination of the first two principles is accretive to both.