Distressed Properties & Adaptive Reuse Investments

In addition to developing new homes as ground up developments, First Home is actively seeking investments in distressed multifamily properties and selective commercial assets suitable for residential conversion. We are seeking multifamily assets built or acquired during historically low interest rate periods ~ that no longer cash flow in today’s financial environment of higher interest rates ~ including properties in default or at risk of default.

Most commercial office buildings cannot be economically repurposed to residential housing and meet residential codes. They were not structurally designed to be economically converted into housing. We do not pursue projects where layout, plumbing, mechanical systems, or core design make conversion impractical or cost prohibitive. Our focus is limited to buildings originally designed in a way that allows for efficient, responsible residential reuse. This disciplined approach allows us to execute conversions that are financially sound and viable. 

We believe a significant number of multifamily and commercial properties, owned and managed by responsible entities made up of caring people is something badly needed in our society today and in the years ahead.