PARTNERSHIPS THAT BUILD VALUE:

Virginia One Development partners with owners who wish to optimize use of land holdings by creating the right mix of homes, amenities and mixed-uses. Virginia One Development has extensive experience in building pro-forma’s that take market conditions, competition and location into consideration to determine the highest and best use of the land. We can structure deals to provide capital and assume risk as needed to structure a viable community. Our primary goal is to work with our partners to maximize profits while creating an environment with enduring value that has a positive impact on the community.

INVESTORS
VOD continues to grow a diverse portfolio of multi-family investment properties. The company identifies undervalued, un-marketed or otherwise off-the-beaten-path properties that can be upgraded, converted, or sold to add value to the investment.

VODs’ track record is clear: discovering deals that were not marketed or were overlooked by other investors in all types of multifamily properties.

Three distinguishing qualities elevates VOD Properties above the rest:

1. Exceptional Acquisitions
We find the right property, in the right location, at the right time.

2. Strategic Laser Beam Focus
We maintain complete focus on our core investment strategy – creating value in multi-family projects.

3. Unmitigated Integrity
It starts at the top. Founder Michael W. Flannagan Is committed to building loyalty and long-term relationships with customers, communities, investors and associates.

INVESTMENT CRITERIA
Miles Properties seeks deals with the following criteria:

ASSET TYPE
Multi-family residential apartment communities.

LOCATION
While VOD seeks to acquire assets in high-growth major metropolitan areas throughout the United States, we have typically focused on assets located in the southeastern and Mid-Atlantic regions. Within each market, we endeavor to acquire distressed assets in areas we believe will experience population and job growth.

SIZE
Generally, VOD focuses on apartment communities with at least 100 residential units.

PHYSICAL QUALITY
Typically B and C class assets in need of substantial rehabilitation, maintenance and repair.

AGE
VOD generally focuses on assets more than 10 years old.

INVESTMENT STYLE
VOD targets assets which are under-valued due to the age or deteriorating physical condition of the asset, ineffective property management, the existence of cumbersome governmental regulations, or the inability of unwillingness of the existing owner to infuse capital necessary to maintain and effectively operate the asset. Once acquired, VOD relies on its many years of management experience and in-house team of rehabilitation specialists to actively create value by swiftly improving and stabilizing each asset.