Development

The development team at PENLER seeks well located sites in major Sun Belt markets with factors limiting competitive supply. PENLER targets return on cost at least 150 bps above current cap rates, with particular attention on cost basis.

The PENLER principals have a long history of sourcing, planning, financing and executing successful development strategies. PENLER employs best-in-class design and consultant teams and selects the most qualified 3rd party general contractor for each asset given the location and product type.