Belay draws upon its deep real estate experience to identify compelling, high-conviction strategies in the best growth markets across the U.S.
Belay is actively investing pursuant to a real estate investment strategy with a clear thesis based on economic and property-related fundamentals that drive target market and property sector selection. The firm seeks to maximize risk-adjusted returns by forging active partnerships with locally entrenched operators and sector specialists in identified target markets, coupling Belay’s institutional quality underwriting and disciplined investment processes with the unique deal sourcing capabilities, micro-market knowledge and execution expertise of the local partners.
The Belay series of funds leverages proven processes and long-term experience with additional control rights to achieve an optimal balance between prudent oversight and operating flexibility.
AVP successfully navigated its initial fund, AVP Fund I, through the global financial crisis by following a disciplined investment process that incorporated rigorous due diligence and active asset management, at the operator and property investment levels, to preserve and grow investor capital, in spite of its relatively rights-limiting structure as a fund of funds. AVP Fund I is managed by Belay’s affiliate, AVP Advisors, LLC, a separate Registered Investment Advisor.
With the launch of Belay Partnership Ventures Fund II (“Fund II”), Belay seeks to build a multi-partner investment portfolio diversified by operator expertise, geography and product type. Investments will be made through a series of non-discretionary programmatic joint ventures which the senior management team believes is an attractive structure with wide appeal in the market today.
A key differentiator of Fund II is a high level of overall transparency provided to the limited partners which facilitates the establishment of direct relationships between them and the operating partners. This concept of developing a “farm team” of local operators may appeal to institutional investors looking to gain direct access to the compelling deal flow, operational talent and cultural diversity of locally entrenched real estate firms over time.