The PMG Urban Legacy™ Initiative
PMG’s Urban Legacy™ initiative is the name we use for our overall strategy for the investments we make in multifamily property. You can think of PMG as the vehicle we’ve created to implement the Urban Legacy™ investment strategy.
Multifamily property exists to provide clean, safe housing for those families who choose not to – or who cannot afford to – own a home. In most cities in the US, high-density multifamily is the defining characteristic of the neighborhoods closest to the center of our urban areas. These urban multifamily properties are often the place where generations of families live out their lives – and these properties are commonly not well maintained and as they age, they become less desirable relative to more modern multifamily properties.
PMG’s Urban Legacy™ initiative is about finding and acquiring multifamily property that is in need of minor to extensive renovation to bring it to its full potential. We acquire these “value add” multifamily properties, make the needed repairs and add critical improvements, and then we make this property available again to the thousands of families that live in the markets in which we invest.
Overall, PMG’s multifamily investment activity is part of a cycle that contributes to – and benefits from – the growth and prosperity of the cities in which we operate.