Posts
Chateaux Apartments
May 1, 2023
No Comments
- 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
Aspen Apartments
November 1, 2022
No Comments
- 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
Del Mar Apartments
July 18, 2022
No Comments
- 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
Eastbank Apartments
April 26, 2022
No Comments
- 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
City Heights Medical Center
April 26, 2022
No Comments
- 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
City Heights South
March 1, 2022
No Comments
- 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
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- developer1
- June 2, 2022
- 8:20 pm