Peninsula Capital Corp. (PCC) has targeted the Greater Buffalo and Rochester markets, which are in what is known as the Rustbelt. We believe that there is a greater opportunity to acquire large scale portfolios below replacement cost at higher cap rates than traditional rental properties.
These areas also provide the opportunity to consolidate the sector quickly by acquiring additional assets known and sourced by PCC. Additionally, there is near-term Net Asset Value upside with the portfolios which are at a discount to third party appraised values.
Both Rochester and Buffalo rank in the top 25 rental markets in the United States in terms of rent growth. Our portfolio is broken down as follows:
Less than 1,000 sq ft
1,000 to 1,500 sq ft
More than 1,500 sq ft
Type of House
Rent Breakdown by House
Existing Property Locations
