Somera's investment objective is to preserve capital, produce attractive quarterly cash-on-cash yields, and create long-term value for our investors by executing repositioning, redevelopment and recapitalization strategies. We focus on acquiring fundamentally sound properties in strong locations within submarkets with favorable attributes. A portion of our investors' return on investment is achieved through the use of moderate leverage, which has ranged between 50% and 75% of the value of an investment.

Somera believes that the inefficient nature of real estate markets provides attractive buying opportunities, and that the key to success is the ability to access opportunities in local markets and manage the value creation process through a successful realization event. We have significant experience managing relationships with local real estate operators who are positioned to identify mispriced assets and value enhancement opportunities and with whom we execute repositioning and recapitalization strategies to add value to our investments.