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- Projected IRR of 23.6%, 2.29 multiple to investors
- Closed 3/2021
- 242 units built in 19xx
- Purchase price: $25.9M
- $2.24M proposed capital improvement program
- 3 year I/O, variable rate bridge debt at years 1-2
- Refinance after year 2 with Freddie Mac 5 year fixed debt
- IRR of 22.58%, 2.23 equity multiple to investors
- Closed 3/2020
- 168 units built in 1980
- Purchase price: $18,933,298
- $2,257,688 proposed capital improvement program
- 3 year I/O, variable rate bridge debt at years 1-2
- Refinance after year 2 with Freddie Mac 5 year fixed debt
- Projected IRR of 17%-18%, 2.05 multiple to investors
- Closed 10/2019
- 196 units built in 1973
- Purchase price: $14,750,000
- $2,225,000 proposed capital improvement program
- 3 year I/O, variable rate bridge debt at years 1-2
- Refinance after year 2 with Freddie Mac 5 year fixed debt
- Projected IRR of 17%-18%, 2.05 multiple to investors
- Closed 6/2019
- 96 units built in 1984
- Purchase price: $6,410,000
- $889,000 proposed capital improvement program
- 3 year I/O, variable rate bridge debt at years 1-2
- Refinance after year 2 with Freddie Mac 5 year fixed debt
- IRR of 29.83% to owners during 2 year hold
- Closed 7/2018
- 13 units built in 1975; 14th unit added
- Purchased for $900,000
- $365,000 capital improvement program underway
- I/O bridge debt at 80% LTC, 100% of rehab cost at 7.99%
- Currently under contract for sale at $2,050,000
- IRR of 22.1%, 2.2 multiple to investors
- Closed 11/2015
- 30 units built in 1964; 31st unit added
- Purchase price: $2,600,000
- $900,000 capital improvement program
- Freddie Mac fixed debt at 3.82%, 5 year term
- Sold 12/27/2019 for $5,975,000
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