Our Work

Gallatin is currently growing its apartment and industrial portfolio and is actively making acquisitions in compelling Western States markets including Los Angeles, Portland and Salt Lake City. Our acquisition focus is on urban multifamily value add and opportunistic transactions.  We target investment sizes from $5mm to $50mm.

We have a long and successful track record developing relationships with our on and off market sourcing channels across markets and cycles.

Our Work
Background Triangle Gradient

What We Do

We target demographically attractive markets with an appropriate inventory structure, activate and nurture our preferred sourcing relationships, value add our acquisitions and then set up our assets for long term stability and continued revenue growth. 

Strategy

Gallatin is a vertically integrated real estate investment firm focused on domestic Western States markets with compelling demographics and ramping gentrification. We invest in multifamily value add opportunities with a relentless focus on adding value in scarce inventory markets. Our goal is to generate current cash flow growth and capital appreciation. 

Background

Gallatin's principals have worked together in real estate specific debt and equity strategies for 20 years,  including over a decade within a best of breed alternative investment firm with established risk management, governance and compliance functions. 

Growth

We have increased our investment targets to demographically compelling cities including Salt Lake City, Portland and Los Angeles. 

Gallatin's Formula

Target Demographically Attractive Markets

  • High employment and population growth 
  • Low vacancy 
  • Favorable rent to income ratios 

Zero in on Market Structure

  • Inventory of Class B/C buildings available for upgrade
  • Rent gap for growth vs. Class A rents 

Activate and Nurture Preferred Sourcing Relationships

  • Local brokers in submarkets
  • Create economic incentives
  • Avoid co-brokers & operating partners 

Value Add the Asset

  • Gen I: Physical Renovation; QOL & Aesthetics 
  • Gen II: Incremental Revenue & "Millenialized" tenant experience 
  • Gen III: Last mile usage: Integration of RE Tech 

Recap, Dividend and Reduce Risk

  • Set asset up for long term stability and continued revenue growth
  • Smart debt, not max debt
  • Increase equity cushion
  • Benefit and insulate from economic trends

Western States Markets

Los Angeles

Portland

Salt Lake City

MSA for Los Angeles

  • Population ('000) 13,369
  • Population Growth vs. 2010 4%
  • Unemployment 4.2%
  • Average Class B Rent to Median Household Income 36%
  • Multifamily Vacancy: Class B 3%
  • Average Monthly Rent: Class B $2,100
  • Forecast Rent Growth: 2019 All Classes 4%

MSA for Portland

  • Population ('000) 2,487
  • Population Growth vs. 2010 11.4%
  • Unemployment 3.8%
  • Average Class B Rent to Median Household Income 21%
  • Multifamily Vacancy: Class B 4.5%
  • Average Monthly Rent: Class B $1,360
  • Forecast Rent Growth: 2019 All Classes 4%

MSA for Salt Lake City

  • Population ('000) 1,211
  • Population Growth vs. 2010 11.8%
  • Unemployment 3%
  • Average Class B Rent to Median Household Income 18%
  • Multifamily Vacancy: Class B 4%
  • Average Monthly Rent: Class B $1,096
  • Forecast Rent Growth: 2019 All Classes 4.9%