{"id":40228,"date":"2025-01-21T21:11:25","date_gmt":"2025-01-21T21:11:25","guid":{"rendered":"https:\/\/peraltafinancing.com\/business\/real-estate\/what-is-an-atlas-deal\/"},"modified":"2025-01-21T21:11:25","modified_gmt":"2025-01-21T21:11:25","slug":"what-is-an-atlas-deal","status":"publish","type":"post","link":"https:\/\/fivemor.com\/?p=40228","title":{"rendered":"What is an \u2018Atlas Deal\u2019?"},"content":{"rendered":"<p> <br \/>\n<\/p>\n<div>\n<p>The deal had everything we look for: a clear value-add story, forced seller, and it was in a high-growth pocket within a city we\u2019re bullish on.<\/p>\n<p>We structured a creative back-door equity participation with the seller, and we had pre-existing relationships with the preferred equity provider (decision-maker) and lender, who was on board to restructure the loan.\u00a0<\/p>\n<p><strong>It had all the hallmarks of an \u2018Atlas deal\u2019. \u00a0<\/strong><\/p>\n<p>Bids were due, and we came in just below guidance, confident in our offer. The next day, the broker called with news that Blackstone came over the top with an all-cash bid, over the asking price.<\/p>\n<p>That was the wake-up call. This deal checked every box\u2014except one crucial thing was missing: a clear path to winning the deal. We\u2019d overlooked a fundamental truth of our industry. Blackstone and other large asset management firms are playing a different game altogether.<\/p>\n<p>At Atlas, <span style=\"box-sizing: border-box; margin: 0px; padding: 0px;\">our ambitious goal is to\u00a0<strong>acq<\/strong><\/span>uire $1B of high-quality (2000 vintage and newer) value-add multifamily real estate across the Southeast over the next three<strong> <\/strong>years.<\/p>\n<p>It\u2019s an incredibly competitive space, and for good reason: The Southeast is attracting young, affluent renters with the means and willingness to pay for updated, amenity-rich communities.<\/p>\n<p>For Atlas to succeed, we need to have a strict buy box, lean into the things we can do that other operators cannot, and go all in when we find a deal we want to own.\u00a0<\/p>\n<p><strong>So what does an actual \u2018Atlas deal\u2019 look like and how do we identify and win those deals?<\/strong><\/p>\n<p>Our process starts with a specific checklist for every opportunity:<\/p>\n<ul class=\"wp-block-list\">\n<li>The seller must be forced or highly motivated.<\/li>\n<li>There\u2019s a unique mispricing angle.<\/li>\n<li>A strong, supportable business plan.<\/li>\n<li>The deal must be in a high-conviction submarket.<\/li>\n<li>And, most importantly, we must have a clear path to winning the deal.<\/li>\n<\/ul>\n<p>If a deal meets all these criteria, we commit time and resources to it.<\/p>\n<p>The most time-consuming element is <strong>getting the story straight<\/strong>. We verify everything we\u2019ve been told, taking nothing at face value.<\/p>\n<p>My role in acquisitions is like that of an investigative journalist, seeking to answer the following questions:<\/p>\n<ul class=\"wp-block-list\">\n<li>Why is the owner selling now?<\/li>\n<li>Why is the deal mispriced?<\/li>\n<li>Why is there untapped upside in the deal?<\/li>\n<li>Why are we confident in our business plan?<\/li>\n<li>Why are we the best buyer and likely to win the deal?<\/li>\n<\/ul>\n<p>That last question\u2014\u201cWhy are we the best buyer?\u201d\u2014is essential.<\/p>\n<p>The answer is what makes Atlas special. It\u2019s our competitive advantage over any number of qualified buyers. Here\u2019s how we think about it:<\/p>\n<p><strong>We do things that only Atlas can do<\/strong>. We have access to flexible HNW and family-office capital and are unencumbered by legacy portfolio issues. We take unique stances on markets\/rent growth. We roll out mid-term furnished unit strategies. We bring tailored design and renovation programs.\u00a0 We lean into what only Atlas can do.<\/p>\n<p><strong>We know more than anyone else<\/strong>. The best operators know the most and we pride ourselves on being the most informed, the most researched, and the most thoughtful group. We\u2019ve been investing in the Southeast for the past 14 years and have spent thousands of hours touring deals, allowing us to quickly identify opportunities and overlooked assets.<\/p>\n<p><strong>We are not afraid of making mistakes<\/strong>. If we\u2019re not making mistakes, we\u2019re not taking enough risks. We are willing to take calculated risks if the upside potential makes sense. \u00a0<\/p>\n<p><strong>We\u2019re relentless. <\/strong>When the first few people say \u201cno,\u201d we don\u2019t back down. We push through barriers, pursuing opportunities with passion and focus.<\/p>\n<p><strong>We foster a culture of passion and continuous learning. <\/strong>Everyone at Atlas is committed to growing and staying informed, whether through books, podcasts, or conferences. This culture creates unique insights and perspectives that large firms can\u2019t replicate.<\/p>\n<p>These aspects change how we think about the risk\/return of an opportunity. If we believe the market will grow faster than the forecasts, we identify a unique upside angle, and we\u2019re willing to take risks, our upside case is more attractive, our downside is better protected, and sellers\/brokers know we\u2019re the most informed buyer.<\/p>\n<p>This also changes the math regarding what we\u2019re willing to pay for a deal, making us the most aggressive buyers.\u00a0<\/p>\n<p>We\u2019re not being reckless; we just know more and have more conviction than other buyers.<\/p>\n<p>Our goal is to identify 3-5 mispriced assets with strong downside protection and significant upside potential. \u00a0<\/p>\n<p>Is it easy? Absolutely not.<\/p>\n<p><strong>Are we positioned with the people, infrastructure, and desire to make it happen? You bet!<\/strong><\/p>\n<\/div>\n\n","protected":false},"excerpt":{"rendered":"<p>The deal had everything we look for: a clear value-add story, forced seller, and it was in a high-growth pocket within a city we\u2019re bullish on. We structured a creative back-door equity participation with the seller, and we had pre-existing relationships with the preferred equity provider (decision-maker) and lender, who was on board to restructure [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[99],"tags":[18356,10465],"dealstore":[],"offerexpiration":[],"class_list":["post-40228","post","type-post","status-publish","format-standard","hentry","category-real-estate","tag-atlas","tag-deal"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v26.4 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>What is an \u2018Atlas Deal\u2019? - Som2ny Network<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/fivemor.com\/?p=40228\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"What is an \u2018Atlas Deal\u2019? - Som2ny Network\" \/>\n<meta property=\"og:description\" content=\"The deal had everything we look for: a clear value-add story, forced seller, and it was in a high-growth pocket within a city we\u2019re bullish on. 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