DCP’s investments' parameters are not constrained by product type, geographic market or total capitalization, however, the firm predominately focuses on value-added real estate transactions in the Western U.S. In general the firm’s investment possess the following characteristics:
- Acquisition price represents a discount to replacement cost
- Transactions contain a value-added component:
- Deployment of targeted capital expenditures to renovate or reposition an asset
- Implementation of operational improvements
- Brand conversion (hotels)
- Investments are located in infill, supply constrained submarkets
- Assets are located primarily in the Western U.S.