Urban Trends Real Estate Inc. (Urban Trends) is a privately-owned real estate development company based in Charlotte, NC. Urban Trends strategy is two-fold with a domestic focus on the acquisition of distressed real estate and an international focus on the development of affordable housing estates in the emerging market of Africa. The company is led by Chris Ogunrinde and George Ojanuga, whom have a combined 30+ years of experience in the U.S. real estate and finance industries.
Urban Trends core domestic objective is to acquire real estate in the residential and multifamily sectors. To a lesser extent, Urban Trends will consider the acquisition of small office and retail centers. Desired asset classes are preferably B and C in urban makets undergoing revitalization in large metropolitan cities in the Southeast. We expect to aquire assets in the range of 9%-12% caps on last twelve months NOI.
Urban Trends core international objective is to profitably provide affordable homes to metropolitan and suburban Africa. Using our extensive U.S. experience in land development, home design, homebuiding and finance, we are able to provide affordable good quality homes that can provide perpetual value creation for our low to middle income buyers. Consequently, from a social perspective, Urban Trends serves as a facilitator for improved living conditions and sustainable prosperity for the low and middle income working class. In addition, our land development and home construction activity provides significant job creation for local communities, and through our training programs, we assist these communities in developing a better skilled labor force to improve their long term earning prospects.