AREA employs a flexible investment strategy in its value-added funds. The firm's value-added strategy has focused on acquiring assets and creating value through repositioning, re-tenanting, redevelopment, and complex recapitalizations. The firm has targeted value and growth-oriented assets in primary markets. Since the inception of the Value Enhancement Funds in 1993, the VEF team has made over 145 investments representing over $3 billion in gross assets on behalf of the funds.