Their newest fund, Trion Multifamily Opportunity Fund IV, LLC, launched in February 2023 and is expected to contain between 8-12 total properties. In addition, Trion periodically launches funds that allow you to invest in multiple properties at once. Trion investors are free to “shop” for the properties they like from a list of current opportunities. Acquired properties undergo renovations designed to boost investor return by optimizing rent potential, increasing lease renewals, and reducing vacancies. Once a property is purchased, Trion manages the renovations. Trion reviews about 100 deals for every property it purchases. Trion prefers imperfect properties that allow for custom updates that unlock maximum investment potential in the current market. Property-specific scenario modeling, stress tests, and sensitivity analysis of exit cap rates are also performed.Īccording to Trion, the ideal building is a blank canvas that has remained untouched for at least 10 years. Trion also identifies optimal capitalization structure during the decision period to avoid leveraging pitfalls.Properties pass the initial screening stage and then undergo modeling to determine potential.Access to transportation and major employers is factored heavily during property selection. Sourcing begins for the purchase of multifamily properties at attractive valuations.Trion converts these underutilized multifamily properties into more modern, attractive and affordable rentals. Trion can be viewed as a “rehab” property investment vehicle because it seeks out what the firm describes as value-add projects driven by the acquisition of “underutilized” properties in rising markets. In 2021, Trion closed on nearly $500 million in assets between Los Angeles and Miami. Roughly half of the investment opportunities available at the time of publication are located in Florida, Georgia and North Carolina. While Trion primarily began acquiring properties in California, Oregon and Colorado, the company is now focusing with equal effort in the southeastern United States. Unlike platforms that act as investor-facing cogs in a larger chain, Trion purchases, underwrites, and manages all their investments Founded by President Carmelo Milio, Trion currently manages 40 properties with more than 3,300 residences.Los Angeles based Trion is a private investment fund in operation since 2005. Trion Real Estate Management is a full-service real estate company that specializes in the management of multi-family and mixed-use residential buildings, co-op and condo communities and commercial properties. The next steps are to create a unique website, upgrade the technology, renovate the gatehouse at the community entrance with state-of-the-art security, and install cameras around the entire perimeter. The Trion team needed to unite staff, connect with local officials on the needs of the various facilities, and initiate online town hall meetings to better communicate with all the parties involved. The most difficult task was to transition all 899 units while complying with strict COVID requirements. Our goal is to not only effectively manage the various HOA needs but collaborate with owners and board members to make the property an even better place to live.” “We were the first company to bring unity and community to the property and we are proud of what has been accomplished so far. “We met this challenge head on with the enthusiastic support from the various HOAs and the umbrella Board, and were able to complete the transition of seven independent condominium and the umbrella association over a six-month period,” says Trion President Carmelo Milio, CPM. “Our complex structure compelled us to seek a competent management firm that would provide a comprehensive approach to managing all of the properties and improving communication among the residents and staff.” “In Shorehaven’s 30-year history, there has never been one company capable of managing all of the independent condominiums, two-family homes, and the overall Shorehaven Homeowner’s Association,” stated Haydee Rosario, president of the SHOA Board. The SHOA Board was looking for a single firm to take over the management of the entire complex to better unify the community and provide improved services. The community totals 899 units spanning 40 acres, Shorehaven is comprised of seven homeowner’s associations and one umbrella association. NEW YORK-Yonkers-based Trion Real Estate Management has been selected as the property management firm for the Shorehaven Homeowner’s Association located at 15 White Plains Road in the Bronx. The Shorehaven community features 899 units on approximately 40 acres.
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