Winter Park, Florida, May 21, 2024 (GLOBE NEWSWIRE) -- In 2016, Kenneth Polsinelli founded Peacock Capital in Florida, focusing on investing in housing for the growing workforce in the state. Over his many years in the real estate industry, Ken has made it his mission to help working-class families gain access to affordable housing through Peacock Capital. He shares that there’s a huge gap in affordable housing in Florida, especially for the working class, and he felt the need to address the issue by investing in resident-centered multifamily housing.
Peacock Capital mostly targets customers who make between 80% and 120% of the area's median income, seeing the increasing demand for housing in the middle section of the market. He adds that the same market segment is where supply is being depleted the fastest, due to market dynamics.“From a business perspective, it’s an easy decision. It’s the safest part of the market to be in as it’s the segment where there’s the most need but has the lowest amount of supply,” he says.
Peacock Capital’s multifamily projects generate long-term cash flow, making it suited for investors seeking to generate consistent long-term cash flow. The firm’s investment model is unique, as the firm pays back all the capital before the sponsors earn any fees, which best aligns everyone's interests. It pays back all the investors as quickly as possible and investors still participate in cash flow going forward as they continue to hold an equity position.
This long-term investment is beneficial for both the residents and the investors, as residents are not forced to move and operating costs are lessened. The locations are strategically chosen in desirable areas with diverse communities that offer nearby employment, access to neighborhood amenities, and convenient transportation, enhancing the overall quality of life for the residents. As buildings are repurposed and renovated with high-quality materials, they will last for years, making them sustainable and affordable for the middle market.
“Our approach is different, in that we are applying our expertise in building a multifamily space where there's not enough housing for people who have jobs or where people want to live. We either need to move jobs to other areas, or we need to be more collaborative in terms of how we provide housing where people do want to live,” Ken states.
Peacock Capital’s vertical integration enables it to control and facilitate the quality and pricing of its apartment communities. This allows the company to produce the best quality housing at the most competitive price, enabling the real estate to be more sustainable. The firm renovates buildings with high-quality and energy-efficient materials, allowing residents to spend less on utilities and more on their quality of life.
“We believe we can contribute to society by finding a way to lower housing costs for the working class,” Ken states. “Our approach is taking care of the residents and building a high-quality living environment for them and their families. Not only do we think it’s the right thing to do for the people who live with us, it’s beneficial for the communities in which we operate and it is the right business decision for our investors.”
Media Contact
Name: Mary Williams
Email: mary@peacockcapital.com
