Columbus Multi-Family

The Phase II Pipeline: Multi-Family Economies of Scale

As Vanier Capital prepares for future capital syndication, efficient capital deployment becomes a structural necessity. While our Phase I Single-Family Residential (SFR) portfolio successfully proved our ability to manufacture yield, scaling a fund through scattered-site SFRs presents inherent capital drag and operational friction.

Phase II targets 2-to-4 door multi-family assets within our established Columbus submarket. This strategic pivot allows for higher-density capital deployment and immediate economies of scale. By consolidating roofs, exteriors, and utility infrastructures, we project a material reduction in our per-door Operating Expense Ratio (OER), directly insulating the Net Operating Income (NOI).

The "Proof of Concept" Capital Mandate

Institutional discipline requires that a firm masters an asset class before exposing limited partners to its unique risk profile. Multi-family management introduces new variables in tenant cross-dynamics, shared utility sub-metering, and high-density CapEx execution.

Therefore, the foundational assets in the Phase II pipeline will be acquired and stabilized entirely with proprietary internal capital. We are committed to taking the initial friction and learning curve onto our own balance sheet. Only once the multi-family operational framework is fully institutionalized and yielding predictable development spreads will we open this pipeline to our private placement distribution list.

Current Sourcing Criteria

• Asset Profile: 2-to-4 unit structures (Duplex, Triplex, Quadplex) with significant deferred maintenance or legacy mismanagement.
• Target Geographies: Established Columbus corridors with high proximity to existing Phase I assets to leverage our localized vendor network.
• Return Profile: Targeting a stabilized Yield on Cost (YOC) that provides a minimum 150 bps development spread over current market cap rates.