TRiTON pursues "value-add" acquisitions targeting well-located properties with an opportunity for significant value creation through re-development, more effective management, lease-up of vacant space and/or prudent capital expenditures. To qualify as a potential acquisition, the opportunity must meet the following criteria:
- Property type: All asset types will be considered.
- Location: Areas of demographic growth in both primary and secondary markets.
- Size: $1 million to $30 million.
- The property must be "opportunistic" in nature.
- TRiTON needs to be able to "add value" by providing a solution for the property's underperformance.
- TRiTON needs to be able to define an exit strategy within a 3-5 year period.
- The acquisition price must be at a deep discount to replacement cost.
- The property needs to have current income to support debt service and expenses. If the property does not generate current income, the acquisition needs to underwrite as a all cash purchase using no leverage.