Investment Properties

Portfolio

The-Malibu Sold

Malibu Apartments

  • 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
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The-Beacon Refinanced

Beacon Apartments

  • 3 year IRR of 16.2% to investors prior to refinance
  • Closed 10/2016
  • 40 units built in 1965
  • Purchase price: $5,885,000
  • $1,400,000 capital improvement program
  • Freddie Mac 3 year variable debt at 3.5%, 3 year term
  • Refinanced in 2019 with Freddie Mac fixed debt at 3.82%, 5 year term
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The-Innsbruck Sold

Innsbruck Apartments

  • 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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