Acquisition & Development Criteria
TriArc evaluates hundreds of deals annually. Here's exactly what we're looking for — and what disqualifies a deal before we go further.
Value-Add Acquisition Criteria
Greater Houston MSA — core submarkets and emerging corridors only
Garden-style multifamily, 40–200 units, built 1970–2005
$2M–$15M acquisition price (all-in)
Minimum $100/unit/month rental upside post-renovation
Minimum 20% net IRR and 1.7x equity multiple target at acquisition
3–7 year target hold, with flexible exit strategies
What We Pass On
- Outside Greater Houston MSA
- Student housing, senior housing, or Section 8-only properties
- Flood zone A (100-year floodplain) without significant mitigation
- Environmental contamination or known remediation issues
- Less than 40 units (insufficient scale for in-house operations)
- Structural deficiencies requiring complete gut renovation
- Deals where we can't achieve minimum return targets with conservative assumptions
- Properties with existing tenant lawsuits or significant deferred litigation risk
Submit a Property
We review off-market and broker submissions. Send us the basics and we'll respond within 48 hours.
Submit a DealDevelopment Criteria
Select ground-up development opportunities where economics are compelling and the TriArc team can self-perform construction.
In-fill Houston locations with demonstrated rental demand, minimal new competition, and strong employment access.
50–150 units. Efficient to build and manage with our in-house team. Large enough to achieve economies of scale.
Development spreads must justify higher risk: minimum 25% stabilized yield on cost and 22%+ net IRR at target hold period.