RAS Property Group is a specialized real estate opportunity fund manager and value-add investor serving institutional clients. The firm focuses on creating diversified portfolios of well-located, quality Class A & B middle market properties at a low-cost basis. Not relying on market momentum to boost value gains, RAS looks to take advantage of market distress and mispriced assets that produce current cash flow. The company is known for its highly experienced team of innovative investment executives who collaborate closely to execute the firm’s carefully defined investment strategy focused on buying well. RAS invests in multifamily properties, concentrating activity in metropolitan areas along the Eastern Seaboard as well as considering attractive acquisitions in other regions which meet its investment guidelines.
Headquartered in Boca Raton, Florida
Over $600 million in assets under management
Diversified multi-strategy, multi-market investor
Multifamily operator—subsidiary directly asset manages approximately 2,000 apartment units
Acquires quality, well-located properties in distressed or mispriced situations at a low-cost basis, helping drive returns regardless of overall market momentum
Concentrates investments in the less competitive middle market ($20 – $75 million price range) to produce better value opportunities
Builds diversified portfolios across multifamily property sectors in various U.S. markets primarily located along the Eastern Seaboard as well as other regions which present attractive opportunities
Couples its highly disciplined acquisition approach with prudent use of leverage in financial restructurings and asset management strategies, which take advantage of lease rollovers, tenant credit quality, and enhancement programs to help produce solid ongoing income in addition to appreciation
Targets a minimum 15% – 18% gross leveraged returns in stabilizing and selling assets, including 8% – 10% returns from net current cash
Target Properties: Acquire multifamily properties that present specific characteristics matching RAS’s core plus and value-add investment themes discussed below.
Target Returns: 6% – 9% current yield, 15% – 18% Gross property-level IRRs, 1.8x Gross property-level equity multiple, 5 – 10 year holding periods, and moderate 65% – 70% LTV debt financing.
Geographic Focus on Six South East Coast Markets where RAS has deep knowledge and strong relationships:
Florida, North Carolina, South Carolina, Georgia, Tennessee, Alabama (the “Target Markets”).
Suburban submarkets with growing population and employment, and balance between supply and demand.
Avoid low-cap rate markets such as Atlanta and Charlotte by concentrating on markets with less intense investment competition.
Multifamily Strategy: Target core plus as well as undercapitalized and undermanaged 200 to 400 unit Class A / B- multifamily, typically less than 10 years old, reposition to A / B+ with typical investment of $5,000-15,000 per unit.
Thomas Gurney is responsible for all acquisitions, asset management, property management and investment activities for RAS Property Group. As a dynamic, results-oriented executive with 25+ years of experience he has managed over $3 Billion in assets, strategizing, originating, and structuring complex domestic and international financing transactions.
Adam Heller is responsible for property management and property operations of the RAS portfolio of rental properties, and is involved with the firm’s investor relations efforts. Adam is also jointly responsible for targeting new acquisitions, dispositions, and overall asset management activities.
Michael Heller is responsible for all acquisitions, asset management, property management and investment activities for RAS Property Group, including financial analysis, underwriting and accounting. In addition, Michael is involved in investor relations and oversees the technology, marketing and creative platforms for the RAS portfolio of rental properties.