Strategy
"We are very pleased that we were able to identify and acquire an underperforming property and create high-quality residences for hundreds of workers in Boston. And we are proud to unite with the Canyon-Johnson team who shares our vision and commitment to urban revitalization."
- Jim Goldenberg, Managing Partner at Cathartes Private Investments in Boston
Successful urban investing requires additional skill sets and knowledge that are essential to capturing the urban opportunity. The disclaimer for those interested in urban investing should clearly read: "Past performance in suburban markets is no indication of future success in urban markets."
Achieving success in urban markets requires a strong knowledge of specific locations within a community; a deep understanding of the specific needs and goals of a community; a working knowledge of urban operations, including security issues, merchandising and tenancies; and a strong in-house team of professionals with knowledge of the government process at the local level.
That is why Canyon-Johnson has assembled a dream team of professionals with diverse experiences and expertise in urban investing. Canyon-Johnson also looks to partner with local communities and developers, providing them with the much needed capital and development experience to facilitate urban revitalization.
We focus on the top 20 metropolitan markets in the United States, from New York to Los Angeles, from Miami to Milwaukee, from Houston to Chicago. In nearly every deal, Canyon-Johnson joint ventures with a local development partner who is responsible for the day-to-day oversight of the development.
Says Managing Partner Bobby Turner, "We recognize that real estate operates like a cottage industry and that we need a strong local partner to team with, particularly for a development deal."
In evaluating potential deals, Canyon-Johnson runs a number of tests and data searches and tries to confirm the generally effusive information sent by potential local partners.
Canyon-Johnson works hands-on with local governments to navigate potential zoning issues and determine the number of home sales in the area surrounding a prospective project. Visiting the location and looking for nearby transportation nodes, employment drivers, relationship to the central business district and proximity to major employers, hospitals, universities or new developments is also an important aspect of the hands-on evaluation Canyon-Johnson employs during the evaluation process.
Generally, the fund looks for sites with more than 250,000 people within a five-mile radius and where minorities account for at least 40 percent of the population.
