Frequently Asked Questions
What is Odessa?
Odessa Realty Investments is a hands-on owner-operator of both directly managed and joint venture real estate. We service the real estate needs of private clients and institutions worldwide. Since its inception in 2013, Odessa has become recognized as a strategic real estate owner-operator specializing in value creation through a mix of development, redevelopment, lease-up and intensive professional management of each individual investment.
How is Odessa unique?
Odessa differentiates itself through its people. Our senior partners combine extensive real estate and finance experience to achieve consistent success throughout economic cycles. With the vision and discipline that only comes from experience, we remain committed to providing the highest quality investment opportunities and services to our investor community worldwide.
In what type of real estate does Odessa invest?
Odessa acquires value-add multifamily residential investment properties ranging in size from 150 to 750 units, valued at $15 million to $150 million.
What is Odessa's investment approach?
Odessa’s investment philosophy demands a focus on capital preservation with the goal of delivering above-benchmark returns to our investors while aligning compensation closely to performance. To achieve this goal, Odessa (1) actively seeks out real estate investment opportunities where risks can be clearly identified and addressed through an appropriate risk/reward structure; and (2) for each investment, strictly adheres to a business plan that clearly identifies the key action items necessary to create value, which remains flexible enough to adapt to changing circumstances.
How does Odessa invest in real estate?
Odessa’s investments are conducted through either Club Deals or Joint Ventures that utilize an entrepreneurial value creation strategy to substantially improve a given property’s value within the projected holding period, ensuring a future buyer’s willingness to pay a premium for stable long-term cash flows and returns. Odessa invests alongside both high net worth individuals and families and institutional funds.
What is a Club Deal?
A Club Deal is a special purpose investment vehicle formed for a limited group of investors to share a single asset or investment strategy. The investment objectives and holding period are pre-established.
Why the name Odessa?
The Company is named after a historic town located in the State of Delaware. The Town of Odessa, and its historic Corbit-Sharp museum, are located about 30 minutes south of Wilmington. Dan Pryor serves on the museum’s Board of Directors.
How was Odessa (the company) formed?
We have been working together since 2013 when we began finding multifamily acquisitions that provide significant potential for valuation appreciation based on executing an achievable business plan. Dan Pryor knows nearly all Odessa’s partners and associates either from his childhood days, business ventures or teaching at NYU.