Green Harvest Capital: Who Are We? Why Should You Know Us?
At Green Harvest Capital, we live and breathe Northeast Ohio multi-family housing. We have combined our passion for real estate and love of the region to focus on often overlooked properties in an often-overlooked part of the United States. We are keenly focused on providing a better living environment to our tenants and providing a healthy return to our investors.
With a niche in 1930-1970’s workforce housing, we are the “team on the ground”, identifying well-built B & C class income-producing properties with affordable rents and high occupancy levels in areas that are seeing economic development. Once we acquire these assets, our priority is to make improvements that will provide a better living experience for tenants while maintaining the affordability they need.
Since January 2020, GHC has acquired nearly 700 units spanning 8 acquisitions, 13 sites, and 5 projects. We have close to 25 employees and three entities executing our vision—GHC, GHC Living, and GHC Construction Services. We have never been more confident in the business and our ability to improve the communities where we acquire/operate and provide a healthy return to investors.
Our “Why”
Northeast Ohio is home to diverse industries, with the established infrastructure and workforce to support them. The region is continuing to go through a renaissance after the shift away from American manufacturing over the past 20 years. Northeast Ohio is now home to advanced manufacturing, aerospace & aviation, automotive, healthcare & biotechnology, financial services, food processing, information technology, logistics, metal production & fabrication, oil & gas, and polymers & materials companies. As this resurgence occurs, there is a consistent need for affordable workforce housing especially as single-family home values continue to soar and availability sinks.
We acquire well-built multi-family assets at significant discounts to replacement cost that have stable, healthy occupancy levels. With our acquisitions and renovations, our priority is strengthening the communities that currently live there, not uprooting them. By focusing on safety/security, green enhancements, and interior product upgrades, we are investing for the long-term in the tenants and the community, all while providing steady, reliable cash flow to investors.
Providing a Better Product
We begin improvements at the time of acquisition that will benefit tenants, both near to long-term. Starting from the outside working in, we evaluate the property and put capital in as needed. One of the first steps we take is installing exterior LED lighting and security cameras. In addition, we inspect and update the roof and foundation to ensure the property is structurally sound. After we finish the exterior, we begin renovating the units. We evaluate and make improvements to the electrical, plumbing, and HVAC systems, making efficiency and sustainability a priority with LED lighting and water saving plumbing improvements. Then, we make upgrades to improve livability for tenants, including installing luxury vinyl tile and stainless-steel appliances, and refinishing bathrooms. This also includes a focus on providing SMART (connected) homes. Throughout the process, we keep tenants’ needs at the forefront of our minds, bringing assets to market value only at turnover.
The GHC Team
The team is led by GHC Principals, B. Patel and Michael Smith, who have over 40 years of combined real estate and management experience. B and Michael have taken our value-add model full cycle multiple times, proving GHC's value-add thesis.
B. Patel says, “I built my own personal portfolio over the last fifteen years based in this area. The amount of hours spent on due diligence provides us with a history of these assets that is unparalleled by peers of our size and scale.”
Michael Smith says, ““At the end of the day, this is my home, this is where my family is, and I want to build better communities.”
With Patel’s expertise in real estate M&A and Smith’s experience in general management, supply chain, and consulting, they create a cohesive team with well-rounded skill sets. In addition, as residents of Northeast Ohio, their connection and care for the Greater Cleveland Community runs deep. With their lives and families rooted here, they are passionate about helping the area thrive.
Become an Investor
GHC continues to grow in 2022 and has a full pipeline of opportunities. We offer accredited investors an opportunity to attain exposure to private real estate via our passive investment platform. We believe our product offerings provide optimal risk-reward vs. today’s equity and bond markets. Contact us (Green Harvest Capital (ghc-lp.com)) today to learn more about our proven track record and upcoming opportunities.