About Us
Who we are
Parallel North Properties is a real estate investment group that focuses on the acquisition, repositioning, and development of multifamily residential properties in the Twin Cities.
Our objective is to generate attractive risk-adjusted returns across varying market cycles and time horizons. We do this by acquiring quality properties at discounts to replacement cost, and subsequently improving the assets through targeted value-add and repositioning initiatives.
Parallel North employs an intensive and pragmatic approach to analyzing projected cash flow streams and rates of return, which is key to the long-term growth and management of our portfolio. Through the acquisition, repositioning and/or development process, we are laser focused on achieving each property’s highest and best use. Our ability to be nimble and think outside of the box allows us to maximize the value of each dollar spent to achieve this.
We are driven by these core principles – understanding that successful execution not only generates solid returns for our investors but also improves the community we call home.
Our team
What we do
PROVIDE INVESTMENT OPPORTUNITIES IN REAL ESTATE
We identify, structure, and implement real estate offerings for our investor partners. Investment and partnership structures vary based on project type, equity requirements and investor preferences with respect to performance criteria, risk tolerance, and time.
Our team achieves attractive, risk-adjusted returns for our investors by identifying opportunities that exhibit the following criteria:
- Comfortable margins that can absorb various market risks
- Ability to maximize the properties highest and best use, and corresponding income potential
- Potential to implement systems that increase building efficiency, thus improving each asset’s NOI over time
ACQUIRE AND REPOSITION MULTIFAMILY PROPERTIES
Our team targets properties that meet our investment criteria and long-term strategic vision. Prior to acquisition, each deal undergoes an extensive sensitivity analysis which helps us understand and mitigate the risks to projected cash flow streams. All assumptions are vetted by our team as well as our multi-disciplinary partners which include lenders, contractors, engineers, and property managers.
All facets of the tenant experience, building infrastructure and existing operations are vetted for improvement. Including, but not limited to, the following:
- Property management systems
- Leasing terms
- Unit and common area renovations
- Building system upgrades
- Vendor contracts
IDENTIFY, PLAN, AND EXECUTE INFILL DEVELOPMENT PROJECTS
Parallel North actively identifies and acquires property that is suitable for infill development. From luxury condos to affordable housing units, our team brings a skilled approach to feasibility analysis, entitlements, architecture/design, partner selection and construction administration.
