OUR VENTURE

Since 2011, the principals of IPIRG, Rick Gelmetti and Ken Weiner have been working together to purchase multifamily properties in Phoenix.  Each partner has been in commercial real estate for 35+ years.  Their investment groups have purchased 16 separate properties and sold 9 of them, leaving an active portfolio of 7 properties.  Their track record shows returns averaging 25.6% IRR.  The IPIRG management team will focus on multi-family properties in the central core of urban areas, primarily marketing to working families and young professionals.

What We Buy

  • Value -add & Stabilized Multifamily Properties with the opportunity to improve and reposition the asset
  • The target property size is between 20 and 200 units

Where We Buy

  • Metro Phoenix area targeting specific gentrifying neighborhoods with working families and young professionals along the newly emerging public transportation corridors
  • Other opportunities will be considered in growing Western cities such as Sacramento, Reno, Las Vegas, and Portland

Investment Target

  • Targeting value-add growth projects for capital appreciation with some cash flow
  • Estimated 2-5 year holding period, which could be shorter with defined EXIT strategy
  • Estimated returns in the 20-25+% IRR range

Investment Groups Now Forming

  • Own a piece of a larger building
  • Small investment amounts