Concord Companies

Concord Capital Partners, in partnership with R2, has closed on a 115-bed tack-on investment within our Campustown Portfolio. The asset, located only blocks away from The University of Illinois at Champaign-Urbana, was sourced off-market from a motivated seller at a highly compelling basis. The transaction further bolsters the scale of the Portfolio, bringing our total presence in the market to 989 beds.

On behalf of everyone at Concord Companies, it has been a great pleasure to work with each of our clients, lenders, brokers, and partners over the past year. Below is copy of our annual letter, in which we reflect on current market conditions and deliver an update on Concord's ongoing projects. In 2025, our commitment remains strong: to empower you with tailored insights and strategic solutions that advance your real estate investment ambitions. Thank you for choosing Concord Companies as your trusted partner.

As we wrap up another year, we are filled with gratitude for our clients, partners, and supporters who have made 2024 an incredible journey. Your trust and collaboration have been at the heart of our success. We wish you and your loved ones a holiday season filled with joy, warmth, and memorable moments. Cheers to a bright and prosperous new year ahead!

The US Department of Commerce recently committed $6.6 billion of Chips Act funding to the construction of the Taiwan Semiconductor (TSMC) campus in Phoenix, Arizona, bringing the project’s total capitalization to more than $65 billion. Concord team members Reuben Robin, Joe Goldstein, and Ryan Marder toured the site earlier this month and were impressed with the scale of the project. The TSMC facility, one of the largest private industrial ventures in US history, will bring tens of thousands of white-collar jobs to the area and is already jumpstarting a centralization of the US semiconductor industry, including parts suppliers and chip users, in Phoenix. The project is one of many reasons we are bullish on the economic trajectory of the Phoenix MSA.

Below are some pics from our Campustown Portfolio street art campaign. By employing local artists to beautify the portfolio, we’ve increased the properties’ curb appeal and created viral exposure that has driven increased leasing traffic.

Concord Capital Partners has gone under contract to acquire Alto Highland Park, a 112-unit Class A multifamily community in the exclusive Highland Park submarket of Dallas, Texas. Highland Park is an independent city known for its award-winning school district, world class retail, and stately homes. With a median home value of $3.1M and no other large-scale multifamily community within its borders,?the submarket is the epitome of a high barrier to entry location.

Concord Capital Partners is proud to announce the launch of a programmatic joint venture with?FrontRange Capital focused on the acquisition of value-add multifamily communities in high-growth Sunbelt markets. A new special-purpose vehicle controlled by the partnership will deploy $150M of equity, representing an estimated $500M of total purchasing power, over the next 24 months.?FrontRange itself has committed $15M to the venture, a significant vote of confidence in the strength of the sponsorship and the merit of the strategy. Concord +?FrontRange will acquire and reposition Class B and C multifamily communities constructed between the 1970s and 2000s, with target markets including Dallas-Fort Worth, Phoenix, Las Vegas, and Denver. FrontRange Capital Partners, LLC

Operations at Vista Azul, acquired by Concord Capital Partners in January of this year, are rapidly proceeding toward stabilization. Concord acquired the 246-unit complex with 30% vacancy and a significant credit loss problem. Since acquisition, we have cleared out nearly all non-paying tenants and executed 57 new leases, with leasing velocity and rental rates tracking in-line with proforma values. Property demographics are on an upward trajectory, with a median household income on new move-ins over the past two months of $78k. While underwriting the acquisition, we formed a thesis that the vacancy and credit loss issues at the complex were due to management failures not related to any trends in the broader submarket. Recent performance supports this thesis. The property represents an excellent case study in the value of aggressive, hands-on asset management in the workforce housing asset class.