Investment Strategy
High Total Return from Small to Medium Size Properties
Avir purchases and redevelops smaller assets, avoiding the auction environment surrounding the sale of larger projects frequently pursued by institutional investors. Because smaller assets are not cost effective investments for institutional buyers (such as insurance companies, pension funds or REITs), Avir realizes higher rates of return in this segment.

Investment horizons are medium term, averaging five years. Properties are sold when fully repositioned and when market conditions favor maximum sales proceeds.

Risk Management
To maximize risk-adjusted return, Avir manages risk by acquiring properties with existing income producing components that present opportunities to enhance value through redevelopment or expansion. Avir acquires properties with strong functional design in desirable locations at prices below replacement cost.

Avir enhances property values via cost-effective physical improvements and aggressive property management, while paying close attention to tenant relations and leasing strategy.

Investment Performance
Superior Returns
Avir Corporation consistently produces superior investment returns for its limited partner investors. Un-leveraged internal rates of return historically averaged over 12%. Leveraged internal rates of return on cash invested by limited partners have averaged 26%.

The company traditionally financed its investment and development activities through formation of private limited partnerships or limited liability companies. Equity is provided by high net worth individuals, foundations and trusts. Investor Limited partners have enjoyed average internal rates of return of 26% on leveraged investments.

This successful track record has allowed the company to grow through creation of new partnerships and by adding new partners.