About Us

The principals of Big 4 Properties LLC (“B4P”) are veterans in the multifamily industry, well-tested as senior leaders of one or both of Aimco (NYSE: AIV) and AIR Communities (NYSE: AIRC). The team is experienced in capital allocation, possesses comparative advantage in property operations, and has an investor mind-set, with each confirmed by the $10 billion sale of AIR Communities in June 2024. B4P was formed to continue and build on the team’s long track record of acquiring and operating multifamily properties on a national scale.

Our Mission

We view providing homes as a high calling and social responsibility. Our mission is to be the premier owner and operator of apartments. We seek to maximize long-term value for those who entrust us with their capital through (i) strategic property selection and (ii) best-in-class property operations that emphasize safe, stable communities which in turn attract high-quality, responsible neighbors and reward long-tenured teammates.

Value Proposition

Team

90+ years of combined experience

Best-in-class operating track record

Ideas + execution

Experience together and complementary skills sets

Network

> $1B capital recycled annually as REIT executives

Solution provider through transaction breadth

Investment pipeline driven by local relationships

Deep alumni bench

Alignment

Significant B4P co-investment

Emphasis on long-term value creation

Creative investment structuring

Risk management through best-in-class operations

Operating Philosophy

We share a sense of mission to provide homes for others and value a culture of collaboration to nurture relationships with residents and teammates alike in order to build safe, stable communities with “good neighbors.” Cohesive, productive teams will better satisfy and retain great neighbors, leading to (i) predictably higher renewal rates (with lower frictional vacancy), (ii) improved leasing dynamics that benefit from reduced inventory, and (iii) lower expenses (both in bad debt and in operations) as high-quality residents stay with us longer. The B4P comparative advantage in property operations and the resulting higher NOI and FCF margins make profitability more predictable and less dependent on macro factors.

Resident Selection

  • Seek, attract, select, and retain high-quality residents

  • Good Neighbor Commitment attached to each lease specifies (i) what we expect of our residents and (ii) what they can expect of us

Customer Satisfaction

  • Residents value comfortable homes and good neighbors

  • We hold ourselves accountable to our residents by providing the opportunity to grade every interaction and by publishing the results online

  • We embrace pay-for-performance by rewarding teammates for exceptional customer service, as measured by our residents

Structure of Work

  • Innovate through use of technology and AI to move work offsite, target digital advertising, and detect fraud

    Redesign onsite work to increase teammate empowerment, job satisfaction, productivity, compensation, and retention

Physical Upgrades

  • Scrutinize all properties for opportunities for greater utilization and property upgrades that increase the measured customer satisfaction of our target customers

  • Invest in preventive maintenance that reduces long-term costs, including casualties and liabilities

Investment Strategy

We target acquisitions of multifamily properties and portfolios where operational upside drives value creation. We aim to match capital with investment opportunity, with an eye to managing risks of duration, refunding, and exit liquidity.

Strategic Locations

  • Identify properties with “moat” characteristics in submarkets with attractive growth prospects

  • Communities in locations that will attract high-quality residents with high propensity to renew

Operational Upside

  • Value creation driven through (i) superior operations tailored to each property and (ii) continuous improvement

  • Plan emphasizes selection of high-quality residents, as well as best-in-class levels of customer and employee satisfaction

Managed Regulation

  • Abide by all laws; but, assess long-term impacts of regulation and manage exposure accordingly

Targeted Returns

  • Achieve attractive risk-adjusted returns (i) relative to appropriate costs of capital benchmarks and (ii) less dependent on macro factors