CREJ

December 15, 2021-January 4, 2022 - Page 39 www.crej.com Brinkman: Real Estate Investment in the Wildly Successful West PROFILE A mericans have long ventured out west in search of expansive land, the lure of adventure and the dream of prosperity for their families. Much like the homesteaders of the olden days, people still are moving westward for the improved quality of life and enhanced space that is such a limited resource within the most popu- lated cities. As these populations con- tinue to shift from traditional core mar- kets to desirable locations throughout the Mountain States, we celebrate con- sistent success with our investments in the region. Brinkman Real Estate began as a development and investment company working solely along the Front Range of Colorado. As our company matured, our strategy expanded geographically to include the entire intermountain West region with nearly $500 million in total projects and $330 million in assets currently under management. This strategy is rooted in the market and economic data that consistently show growth trajectories that outpace national averages. Our return metrics in this region show a similar trend, with our investor internal rate of return topping 35% and equity multiple nearing 2.7x on average across our portfolio. n Intermountain West growth trends. The intermountain West region is known for its high quality of life and comparatively low cost of liv- ing. Offering residents an affordable and aspirational lifestyle powers the strong in-migration patterns occurring throughout the region. These height- ened population shifts have accelerated over the last 18 months with coastal and traditional core markets experienc- ing a population exodus as longtime city dwellers move from the crowded confines of these densely populated metros to more desirable locations. Our focus on scaling our multifam- ily footprint within these high-growth markets throughout the intermountain West allows us to take advantage of these strong tailwinds and realize out- sized return profiles to our investors. As we continue to grow our footprint in these markets, we are taking a dis- ciplined investment approach focused on assets exhibiting strong physical plants with significant management upside. As market cap rates continue to compress in the larger metropolitan statistical areas, there is an opportu- nity to realize outsized returns in these markets where rent growth continues to outpace that seen in the larger MSAs and pricing has not yet reached levels of the core markets. We’ve found the most success in building our portfolio with a mix of core-plus and value- Please see Brinkman, Page 45

RkJQdWJsaXNoZXIy MzEwNTM=