Patina Flats are apartments built between 1995 and 2020, modern enough to have sound plumbing, wiring, and HVAC, but underinvested in and dated inside. We buy them for less than it would cost to build new, then renovate the units, sharpen the operations, and manage them properly. The bones are already good. What they need is the work and the attention to bring them to their full value.
OUR STRATEGIES
PATINA FLATS
OUR STRATEGIES
PATINA FLATS
Well-located apartments, bought below replacement cost and renovated to their full value.
Well-located apartments, bought below replacement cost and renovated to their full value.
We buy good buildings and make them better.
We buy the right buildings and
bring them back to their best.
Modern Bones
The structure and systems are already up to modern standard, which keeps surprises and capital risk low.
Renovated Right
Updated interiors and sharper operations lift each community to the quality its location already deserves.
Built-in Demand
These are homes people rent because they need them, which keeps communities full even when the market softens.
Allegiant Living Community
Every Patina Flat is part of an Allegiant Living Community.
Around every home,
an Allegiant Living Community.
Each Allegiant Living Community is a garden-style or mid-rise community of 200 to 400 homes in a strong suburban or secondary Southeast market. These are well-located, modern buildings, renovated unit by unit and run under professional management to bring them to their full value.
Allegiant has three strategies.
You’re reading about one.
Canvas Homesteads
Gated Live Well Communities of 200 to 400 purpose-built rental homes for the hourly workforce.
At a glance:
- For the $12.50 to $32.50 per hour workforce
- Purpose-built homes in gated communities of 200 to 400
- Ground-up development, built to rent
- Part of the Live Well Community
Artisan Flats
Garden-style apartment communities built to institutional standards for workforce renters.
At a glance:
- For renters earning 60% to 120% of area median income
- Garden-style apartment communities
- Institutional standard development
- Part of the Allegiant Living Community
Patina Flats
Well-located, modern-vintage apartment communities acquired and repositioned for the next cycle.
At a glance:
- For the renters already living in each acquired community
- Apartment communities of 200 to 400 units, built 1995 to 2020
- Acquisition and repositioning of existing assets
- Part of the Allegiant Living Community
Making attainable housing ordinary takes the right partners.
Making attainable housing ordinary takes the right partners.