Investment Criteria Continued
Multi-Family
Crow Holdings seeks Class A/B apartment complexes located in primary and secondary markets typically containing 200 – 500 units.  Crow Holdings generally focuses on the investment and/or development of garden style and urban in-fill multi-family housing.

Office
Crow Holdings targets well located, multi-tenant office buildings in major markets with historically strong job growth.  Investment opportunities include well-leased assets with limited rollover in the near future as well as assets with existing vacancy or near-term lease expirations where job growth has resumed and demand is strengthening.

Hotels
Crow Holdings seeks hospitality investments in major markets throughout the United States that offer the opportunity to create value utilizing several strategies, including (i) the replacement of an existing manager with a more efficient operator, (ii) conversion to a better brand or, (iii) asset repositioning through capital improvements.

Continued