PDP focuses on the quality of the properties and real estate it acquires, rather than a particular asset class. This approach has proven more successful than a singular product focus, as the best opportunities that may be presented cannot be predicted. Much of PDP’s current focus is on well located, high quality multifamily opportunities. Its strategy is to both seek urban infill and strong suburban development sites, and acquire newer, existing core plus assets and properties with a value add component.
The company contemplates acquisitions throughout the western states and particularly those states with superior growth prospects. PDP targets urban and suburban submarkets that exhibit strong supply and demand fundamentals relevant to the particular product type. The company invests in select secondary markets that have access to transportation, Class A amenities, an educated work force and a growing population base.
Whether pursuing opportunistic, value added or yield oriented real estate investments, PDP always maintains a long term strategy, with suitable leverage at the property level, and targets unlevered returns on cost necessary to provide for a margin of safety.