Skylight acquires mismanaged, undercapitalized, and under-leased assets in its core markets. Properties that have often been held by disengaged owners, where operational inefficiencies and deferred investment leave substantial value unrealized.
Skylight creates value through targeted capital improvements, expense discipline, and revenue-driven repositioning. Through our hold period we focus on lifting occupancy, renovating and rebranding to command premium rents. Upon successfully executing the business plan we then draw on our deep capital markets relationships to refinance or sell the asset depending on the market appetite.
Skylight develops low, mid, and high-rise residential across the New York Metro area’s highest-barrier submarkets. Building ground-up in core urban and suburban locations and converting underutilized properties into best-in-class housing where new supply is scarce.
Skylight runs the entire development process in-house, from underwriting and market analysis through design and delivery. Sourcing is led by its development principals, who engage partners early and often, and a leadership team that meets frequently to make expedited decisions.
Skylight invests through non-performing loan purchases and high-yield preferred equity, taking positions across the capital stack as a wave of maturing debt and tightening credit create a generational opportunity for structured capital.
Skylight structures each investment for downside protection and equity-like upside. Pricing relative value across the capital stack and the market cycle, and, as an operator, providing comfort around underwriting and asset management.