BIRE Investments:
We find value in the under-valued.
We find value in the under-valued.
Bean Investment Real Estate has a strong track record of success in multi-family investing. We have achieved strong historical returns for our investors. Since 2000, we have invested more than $450 million in more than 50 properties, resulting in a weighted average IRR for properties sold to date of 16%.
In all of our investments on behalf of clients, we are focused on capital preservation and risk management. We seek to limit downside risks by performing comprehensive due diligence by observing pricing discipline during purchase negotiations, by acquiring assets that are more readily marketable once the issues depressing the value have been remedied, and by being prudent in the use of leverage.
Our experience gives us unique access to off-market or narrowly marketed deals through an extensive network of brokers, property managers, property owners, title companies, lenders and receivers. We are experienced in a variety of acquisition types, including REO, loan sales, foreclosure and bankruptcy sales. We impose a rigorous yet timely due diligence and underwriting process and are able to take advantage of price and timing balances in cash closings, for the benefit or our investors.
We invite you to learn more about us. Give us a call to discuss whether our approach could fit your needs.
investment properties
BIRE currently owns in partnership more than 6,000 units in Oregon, Washington, Nevada, Arizona and New Mexico. We have purchased, owned and sold more than 50 institutional and non-institutional quality multi-family properties, totaling more than 20,000 units, with aggregate value in excess of $1 billion.
Here is a sample of the properties BIRE has purchased and held as investment properties. Some of these properties are currently owned and others have been sold. We would be happy to provide more detailed information upon request.
PROPERTY PROFILES
APARTMENT INVESTMENTS
NAME I Timbertree
LOCATION I Phoenix, AZ
UNITS I 387
YEAR BUILT I 1980
PRICE I $12,334,250
DATE ACQUIRED I May, 2011
NAME I Copper Ridge
LOCATION I Albquerque, NM
UNITS I 180
YEAR BUILT I 1972
PRICE I $9,965,250
DATE ACQUIRED I December, 2012
NAME I Allanza at the Lakes
LOCATION I Las Vegas, NV
UNITS I 989
YEAR BUILT I 1987
PRICE I $53,250,000
DATE ACQUIRED I April, 2012
NAME I Diamond Vista
LOCATION I Las Vegas, NV
UNITS I 196
YEAR BUILT I 2005
PRICE I $29,500,000
DATE ACQUIRED I April, 2005
NAME I Palms on Scottsdale
LOCATION I Tempe, AZ
UNITS I 404
YEAR BUILT I 1987
PRICE I $56,454,000
DATE ACQUIRED I December, 2005
NAME I Lantana
LOCATION I Las Vegas, NV
UNITS I 516
YEAR BUILT I 1983
PRICE I $48,100,000
DATE ACQUIRED I February, 2007
NAME I Eagle Pointe
LOCATION I Albquerque, NM
UNITS I 332
YEAR BUILT I 1985
PRICE I $19,700,000
DATE ACQUIRED I September, 2006
NAME I Montego Bay
LOCATION I Las Vegas, NV
UNITS I 420
YEAR BUILT I 1992
PRICE I $37,150,000
DATE ACQUIRED I November, 2004
NAME I Fountains at Flamingo
LOCATION I Las Vegas, NV
UNITS I 524
YEAR BUILT I 1992
PRICE I $47,000,000
DATE ACQUIRED I November, 2004
NAME I Manzano Ridge
LOCATION I Albquerque, NM
UNITS I 280
YEAR BUILT I 2004
PRICE I $14,751,112
DATE ACQUIRED I April, 2004
NAME I Cedar Mill Crossing
LOCATION I Beaverton, OR
UNITS I 508
YEAR BUILT I 1980
PRICE I $22,918,750
DATE ACQUIRED I April, 2003
NAME I Cortland Village
LOCATION I Hillsboro, OR
UNITS I 360
YEAR BUILT I 2001
PRICE I $22,638,280
DATE ACQUIRED I December, 2003
NAME I Sterling Point
LOCATION I Beaverton, OR
UNITS I 630
YEAR BUILT I 1986-1989
PRICE I $36,500,000
DATE ACQUIRED I June, 2001
NAME I Main Street Village
LOCATION I Tigard, OR
UNITS I 237
YEAR BUILT I 1994
PRICE I $15,790,144
DATE ACQUIRED I August, 1996
NAME I Riverwood Heigts
LOCATION I Tualatin, OR
UNITS I 240
YEAR BUILT I 1988
PRICE I $12,850,000
DATE ACQUIRED I April, 1999
NAME I Squires Court
LOCATION I Clackamas, OR
UNITS I 235
YEAR BUILT I 1988
PRICE I $12,850,000
DATE ACQUIRED I April, 1999
NAME I Hunters Run
LOCATION I Beaverton, OR
UNITS I 318
YEAR BUILT I 2002
PRICE I $18,625,000
DATE ACQUIRED I January, 1999
NAME I Meridian at Murrayhill
LOCATION I Beaverton, OR
UNITS I 312
YEAR BUILT I 1995
PRICE I $19,100,000
DATE ACQUIRED I January, 1998
NAME I Illahee/French Prairie
LOCATION I Wilsonville, OR
UNITS I 276
YEAR BUILT I 1986
PRICE I --
DATE ACQUIRED I --
APARTMENT DEVELOPMENT/CONDO CONVERSIONS
NAME I Rancho Santa Fe
LOCATION I Glendale, AZ
UNITS I 207
YEAR BUILT I 1985
PRICE I --
DATE ACQUIRED I December, 2013
TYPE I Condominium Conversion
NAME I Atwater
LOCATION I Phoenix, AZ
UNITS I 175
YEAR BUILT I 1974
PRICE I $6,025,000
DATE ACQUIRED I December, 2012
TYPE I Purchase/Rehab
NAME I Harrison
LOCATION I Portland, OR
UNITS I 539
YEAR BUILT I 1974
PRICE I $40,000,000
DATE ACQUIRED I August, 2005
TYPE I Condominium Conversion
NAME I The Envoy
LOCATION I Portland, OR
UNITS I 41
YEAR BUILT I 1929
PRICE I $5,500,000
DATE ACQUIRED I June, 2004
TYPE I Condominium Conversion
NAME I Landings at Cottonwood
LOCATION I Albquerque, NM
UNITS I 210
YEAR BUILT I 2008
PRICE I $20,500,000
DATE ACQUIRED I December, 2005
TYPE I New Construction
NAME I Canyon Creek
LOCATION I Las Vegas, NV
UNITS I 280
YEAR BUILT I 1987
PRICE I $35,000,000
DATE ACQUIRED I January, 2006
TYPE I Condominium Conversion
NAME I Bordeaux
LOCATION I Las Vegas, NV
UNITS I 104
YEAR BUILT I --
PRICE I $10,283,520
DATE ACQUIRED I March, 2005
TYPE I Condominium Conversion
NAME I Columbia Point
LOCATION I Portland, OR
UNITS I 176
YEAR BUILT I 1990
PRICE I $14,300,000
DATE ACQUIRED I April, 1999
TYPE I Condominium Conversion
NAME I Solana
LOCATION I Las Vegas, NV
UNITS I 92
YEAR BUILT I 1997
PRICE I $11,225,000
DATE ACQUIRED I January, 2006
TYPE I Condominium Conversion
In all of our investments on behalf of clients, we are focused on capital preservation and risk management. We seek to limit downside risks by performing comprehensive due diligence by observing pricing discipline during purchase negotiations, by acquiring assets that are more readily marketable once the issues depressing the value have been remedied, and by being prudent in the use of leverage.
Our experience gives us unique access to off-market or narrowly marketed deals through an extensive network of brokers, property managers, property owners, title companies, lenders and receivers. We are experienced in a variety of acquisition types, including REO, loan sales, foreclosure and bankruptcy sales. We impose a rigorous yet timely due diligence and underwriting process and are able to take advantage of price and timing balances in cash closings, for the benefit or our investors.
We invite you to learn more about us. Give us a call to discuss whether our approach could fit your needs.
investment properties
BIRE currently owns in partnership more than 6,000 units in Oregon, Washington, Nevada, Arizona and New Mexico. We have purchased, owned and sold more than 50 institutional and non-institutional quality multi-family properties, totaling more than 20,000 units, with aggregate value in excess of $1 billion.
Here is a sample of the properties BIRE has purchased and held as investment properties. Some of these properties are currently owned and others have been sold. We would be happy to provide more detailed information upon request.
PROPERTY PROFILES
APARTMENT INVESTMENTS
NAME I Timbertree
LOCATION I Phoenix, AZ
UNITS I 387
YEAR BUILT I 1980
PRICE I $12,334,250
DATE ACQUIRED I May, 2011
NAME I Copper Ridge
LOCATION I Albquerque, NM
UNITS I 180
YEAR BUILT I 1972
PRICE I $9,965,250
DATE ACQUIRED I December, 2012
NAME I Allanza at the Lakes
LOCATION I Las Vegas, NV
UNITS I 989
YEAR BUILT I 1987
PRICE I $53,250,000
DATE ACQUIRED I April, 2012
NAME I Diamond Vista
LOCATION I Las Vegas, NV
UNITS I 196
YEAR BUILT I 2005
PRICE I $29,500,000
DATE ACQUIRED I April, 2005
NAME I Palms on Scottsdale
LOCATION I Tempe, AZ
UNITS I 404
YEAR BUILT I 1987
PRICE I $56,454,000
DATE ACQUIRED I December, 2005
NAME I Lantana
LOCATION I Las Vegas, NV
UNITS I 516
YEAR BUILT I 1983
PRICE I $48,100,000
DATE ACQUIRED I February, 2007
NAME I Eagle Pointe
LOCATION I Albquerque, NM
UNITS I 332
YEAR BUILT I 1985
PRICE I $19,700,000
DATE ACQUIRED I September, 2006
NAME I Montego Bay
LOCATION I Las Vegas, NV
UNITS I 420
YEAR BUILT I 1992
PRICE I $37,150,000
DATE ACQUIRED I November, 2004
NAME I Fountains at Flamingo
LOCATION I Las Vegas, NV
UNITS I 524
YEAR BUILT I 1992
PRICE I $47,000,000
DATE ACQUIRED I November, 2004
NAME I Manzano Ridge
LOCATION I Albquerque, NM
UNITS I 280
YEAR BUILT I 2004
PRICE I $14,751,112
DATE ACQUIRED I April, 2004
NAME I Cedar Mill Crossing
LOCATION I Beaverton, OR
UNITS I 508
YEAR BUILT I 1980
PRICE I $22,918,750
DATE ACQUIRED I April, 2003
NAME I Cortland Village
LOCATION I Hillsboro, OR
UNITS I 360
YEAR BUILT I 2001
PRICE I $22,638,280
DATE ACQUIRED I December, 2003
NAME I Sterling Point
LOCATION I Beaverton, OR
UNITS I 630
YEAR BUILT I 1986-1989
PRICE I $36,500,000
DATE ACQUIRED I June, 2001
NAME I Main Street Village
LOCATION I Tigard, OR
UNITS I 237
YEAR BUILT I 1994
PRICE I $15,790,144
DATE ACQUIRED I August, 1996
NAME I Riverwood Heigts
LOCATION I Tualatin, OR
UNITS I 240
YEAR BUILT I 1988
PRICE I $12,850,000
DATE ACQUIRED I April, 1999
NAME I Squires Court
LOCATION I Clackamas, OR
UNITS I 235
YEAR BUILT I 1988
PRICE I $12,850,000
DATE ACQUIRED I April, 1999
NAME I Hunters Run
LOCATION I Beaverton, OR
UNITS I 318
YEAR BUILT I 2002
PRICE I $18,625,000
DATE ACQUIRED I January, 1999
NAME I Meridian at Murrayhill
LOCATION I Beaverton, OR
UNITS I 312
YEAR BUILT I 1995
PRICE I $19,100,000
DATE ACQUIRED I January, 1998
NAME I Illahee/French Prairie
LOCATION I Wilsonville, OR
UNITS I 276
YEAR BUILT I 1986
PRICE I --
DATE ACQUIRED I --
APARTMENT DEVELOPMENT/CONDO CONVERSIONS
NAME I Rancho Santa Fe
LOCATION I Glendale, AZ
UNITS I 207
YEAR BUILT I 1985
PRICE I --
DATE ACQUIRED I December, 2013
TYPE I Condominium Conversion
NAME I Atwater
LOCATION I Phoenix, AZ
UNITS I 175
YEAR BUILT I 1974
PRICE I $6,025,000
DATE ACQUIRED I December, 2012
TYPE I Purchase/Rehab
NAME I Harrison
LOCATION I Portland, OR
UNITS I 539
YEAR BUILT I 1974
PRICE I $40,000,000
DATE ACQUIRED I August, 2005
TYPE I Condominium Conversion
NAME I The Envoy
LOCATION I Portland, OR
UNITS I 41
YEAR BUILT I 1929
PRICE I $5,500,000
DATE ACQUIRED I June, 2004
TYPE I Condominium Conversion
NAME I Landings at Cottonwood
LOCATION I Albquerque, NM
UNITS I 210
YEAR BUILT I 2008
PRICE I $20,500,000
DATE ACQUIRED I December, 2005
TYPE I New Construction
NAME I Canyon Creek
LOCATION I Las Vegas, NV
UNITS I 280
YEAR BUILT I 1987
PRICE I $35,000,000
DATE ACQUIRED I January, 2006
TYPE I Condominium Conversion
NAME I Bordeaux
LOCATION I Las Vegas, NV
UNITS I 104
YEAR BUILT I --
PRICE I $10,283,520
DATE ACQUIRED I March, 2005
TYPE I Condominium Conversion
NAME I Columbia Point
LOCATION I Portland, OR
UNITS I 176
YEAR BUILT I 1990
PRICE I $14,300,000
DATE ACQUIRED I April, 1999
TYPE I Condominium Conversion
NAME I Solana
LOCATION I Las Vegas, NV
UNITS I 92
YEAR BUILT I 1997
PRICE I $11,225,000
DATE ACQUIRED I January, 2006
TYPE I Condominium Conversion