- Explore the benefits of investing in income-producing real estate. M3 investments represent an excellent diversification opportunity.
- M3 Multifamily, LLC acquires A, B and C Class apartment communities, weighted towards B class in target markets in the western US.
- M3 Multifamily is actively acquiring multifamily assets that meet our investment criteria in desirable markets throughout the western US.
Media
Press Release
February 12, 2008
Mason Farrell, President of Martin Farrell Homes, announces the formation of M3 Multifamily, LLC, created to own and manage apartment communities throughout the United States. John Mosby, formerly a Regional Vice President with NALS for more than 12 years, will direct M3's operations, including acquisition, renovation and development of multifamily properties. Previously, Mosby set up management operations for NALS in five states and opened up large apartment communities in Atlanta, Raleigh, Dallas, Austin, San Antonio, Killeen, Santa Fe, Albuquerque and Tucson.
“We are in an unsettled economic climate, particularly with regard to home ownership. The percentage of the population that owns homes in this country has steadily increased over the last 20 years, as compared to the percentage who rent apartments. The subprime crisis, stricter lending requirements and economic uncertainty reversed this trend. Our goal is to purchase communities ranging in size from 75 to 250 units in target markets and enhance the value of those assets through renovation and improvement of operations,” explains Mosby. “M3 Multifamily is also seeking land opportunities where we can take Martin Farrell's development experience and build a more attractive product for the rental consumer.”
Jon Martin and Mason Farrell, Principals at Martin Farrell Homes, Inc. ( www.martinfarrellhomes.com ), have been in the residential development business for more than 20 years. Their Santa Barbara based firm focuses on acquiring land, arranging financing, developing, building and selling homes, primarily in Santa Barbara and San Luis Obispo Counties. “With considerable barriers to home ownership due to the subprime debacle, we believe the time is right to invest in apartment communities” says Martin. With this in mind, Martin Farrell Homes will be breaking ground in the next year on two multifamily properties totaling 475 units in Northern Santa Barbara County.
For more information, please contact Mason Farrell at (805) 962-1155 or visit www.m3multifamily.com .