Members of our Roers Cos. executive team sat down with Minneapolis Star Tribune reporter Jim Buchta recently to talk about the challenges of financing and developing multifamily projects during 2023 — and how Roers Cos. was able to overcome many obstacles other firms did not.
“While others retreat, Roers is expanding. The firm closed 16 deals last year and plans to build … more in 2024, including several projects in Florida, Texas and other states.
‘With other developers not getting out of the ground, we think the opportunity gets better,’ Brian Roers said.
He said the company is uniquely positioned to press forward when others aren’t since it can tap into what he calls a local network of “friends and family” investors who provide the kind of equity many developers can’t raise. To help meet increasing equity requirements, the company has appealed to individual and local investors via an “investor hub” on its website.
The company also maintains a “vertically integrated” business model that allows it to control all aspects of the process by maintaining its own in-house development, construction, marketing and management teams. Brian Roers said this enables the company to fine-tune its operations.
‘That’s been our secret sauce from Day One,’ said Shane LaFave, a Roers executive vice president.”
Subscribers can read the full article online here: https://www.startribune.com/twin-cities-area-apartment-buildings-face-same-financing-challenges-as-offices/600336244/. Read more about the impact of our vertical integration model in our investment hub here.