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- Closed 5/2023
- 425 units built in 1965, 2018
- Purchase price: $58,016,514
- $8,068,875 proposed capital improvement program
- Fixed bank debt at 6.5%, 5 year term
- Refinance after year 2 with Freddie Mac 5 year fixed debt
- Closed 11/2022
- 209 units built in 1973
- Purchase price: $26,151,562
- $3,535,000 proposed capital improvement program
- 3 year I/O, fixed rate bridge debt year 1
- Refinance with Freddie Mac 5 year fixed debt
- Projected IRR of 19.97%, 2.05 multiple to investor
- Closed 6/2022
- 48 units built in 1978
- Purchase price: $73,105,115
- $9,270,000 proposed capital improvement program
- 3 year I/O, fixed rate bridge debt at years 1-2
- Refinance after year 2 with Freddie Mac 5 year fixed debt
- Projected IRR of 25.86%, 2.66 multiple to investor
- Closed 3/2021
- 48 units built in 1970
- Purchase price: $1,833,000
- $1,200,000 proposed capital improvement program
- 2 year I/O, fixed rate bridge debt year 1
- Refinance with Freddie Mac 5-year fixed debt
- Projected IRR of 24.96%, 2.45 multiple to investor
- Closed 3/2022
- 178 units built in 1974
- Purchase price: $17,592,745
- $2,403,000 proposed capital improvement program
- 3 year I/O, fixed rate bridge debt year 1
- Refinance with Freddie Mac 5-year fixed debt
- Projected IRR of 24.48%, 2.34 multiple to investor
- Closed 3/2022
- 201 units built in 1972
- Purchase price: $19,570,325
- $2,713,500 proposed capital improvement program
- 3 year I/O, variable rate bridge debt at years 1
- Refinance with Freddie Mac 5 year fixed debt
- Projected IRR of 19.39%, 2.07 multiple to investor
- Closed 10/2021
- 307 units built in 1970
- Purchase price: $34,673,293
- $4,904,939 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 19.99%, 1.98 multiple to investor
- Closed 7/2021
- 384 units built in 1973
- Purchase price: $47,775,813
- $5,506,560 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 18.53%, 2.09 multiple to investors
- Closed 11/2020
- 256 units built in 1980
- Purchase price: $21,504,000
- $4,487,000 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 21.47%, 2.30 multiple to investors
- Closed 11/2020
- 264 units built in 1980
- Purchase price: $22,176,000
- $4,626,800 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
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