Story

We acquired this asset at a good basis from a seller who failed to capitalize on the great location. Our business plan going in was to renovate 100% of the units and improve curb appeal. The enhanced curb appeal helped drive more foot traffic. 

Execution

We started renovations on this property the day we took over and completed the renovations in a record of 13 months. We bought the property in December 2022 and gave investors an 18.5% IRR exit by October 2024.