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Del Mar Apartments - SGRE Investments Under Renovation

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
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Photo Oct 06, 8 10 09 AM resized Under Renovation

Eastbank Apartments

  • 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
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City Heights Medical Center Apartments Under Renovation

City Heights Medical Center

  • 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
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City Heights South Apartments Under Renovation

City Heights South

  • 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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Website 3-2.1 Under Renovation

La Estancia

  • 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
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Casa Verde Apartments Under Renovation

Casa Verde Apartments

  • 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
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Screenshot 2021-01-21 131259 Sold

Red Pines Apartments

  • 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
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SGRE Apartment Project Under Renovation

West Ridge Apartments

  • 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
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Main Ridge Apartments Under Renovation

Main Ridge Apartments

  • 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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Ridge Point Apartments Sold

Ridge Point Apartments

  • 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
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Green Tree Place Apartments Sold

Green Tree Place Apartments

  • 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
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Pine-Lake-Village Sold

Pine Lake Apartments

  • 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
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