ELIM: Riding the Rental Wave
ELIM is bullish on the future of rental housing, driven by a perfect storm of factors: a persistent housing shortage, rising affordability concerns, and a growing preference for renting among various demographics. In 2024, the company strategically invested in six diverse rental properties, including student housing, built-to-rent communities, and multifamily project, reflecting this bullish outlook.
A Year of Strong Performance
Beyond acquisitions and development, 2024 has been a year of robust growth for Elim’s existing rental portfolio. Occupancy rates have soared, and the company successfully divested three multifamily properties comprising 723 units in the Orlando MSA, Florida.
“These multifamily development projects we have invested in during 2021 to 2022 have seen very strong demand,” said Harvey Li, CEO of ELIM, “all reaching impressive occupancy rates of 88% and above as of December 15, 2024.”
ELIM exited these assets to institutional investors, including a major U.S. insurance company and a global investment bank’s real estate arm, realizing attractive returns ranging from 16% to 22% IRR.
Gem Lake multifamily development project, located in Orlando, Florida, was completed in Q1 2024. Occupancy reached 93%+ and the property was exited in Q4 2024.
2025: Expanding Horizons
ELIM is optimistic about the continued strength of the rental market in 2025. Anticipating sustained high demand, the company plans to significantly expand its portfolio through strategic acquisitions and new developments.
“Our 2025 strategy involves both increasing our family office capital allocation and launching a new investment platform for partners,” says Stanley Kung, Managing Director of ELIM Investment Management. “This platform will focus on a diverse range of opportunities, including new development, recapitalizations, and co-GP deals, providing stable income and diversified returns through our extensive builder network.”
Strategic Focus and High-Quality Investments
ELIM prioritizes investing in high-quality rental properties by collaborating with leading developers, operators, and other key stakeholders. This collaborative approach ensures the creation of attractive and sustainable rental options that meet the evolving needs of today’s renters.
ELIM’s strong performance in 2024 and its ambitious plans for 2025 underscore its commitment to capitalizing on the burgeoning rental market. With a strategic focus on key sectors like multifamily, built-to-rent, and student housing, ELIM is well-positioned to navigate the dynamic rental landscape and deliver exceptional returns for its investors.
