Investment strategy

• Acquiring quality commercial properties and/or portfolios of properties located in markets and surrounding areas at prices that are below replacement cost and at yields which exceed Steward Real Estate Partners cost of capital.
  
• Redeveloping and improving acquired properties and developing build-to-suit properties
  
• Operating within a conservative capital structure with financing policies that allow for continued growth.
  
• Optimizing cash flow from properties through continued active property management and prudent operating strategies.

Investment Criteria

Steward Real Estate Partners seeks real estate investments throughout the United States with the following characteristics:

• Targeted property types include: retail, office, medical, high-tech projects, loft apartments and condo conversions
  
• Typical equity investments of $5 million to $30 million per investment opportunity
  
• Conservative capital structure targeting post acquisition/development leverage of 60 percent to 75 percent
  
• Quality and strategic location
  
• Strengthening real estate fundamentals of the identified market
  
• Complimentary to SREP and Jonna Realty’s knowledge and expertise
  
• Lack of new construction in identified market
  
• Presence of distressed sellers and inadvertent owners
  
• Limited capital available to Steward Real Estate Partners competitors for acquisitions and capital improvements

Steward Real Estate Partners will not invest in:

• Single family construction and development
  
• Real estate investments that carry significant operating risk such as golf courses, hotels and restaurants