Del Mar Apartments
- 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