Project Highlights

At this property we learned that unique situations, distressed real estate, and high leverage opportunities can exist together.  We signed a contract to purchase the property and the loan at the same time.  Then, with a relationship lender, we were able to secure acquisition financing at 98% of the purchase price.  We took over a property that was largely (85%) occupied but grossly mismanaged. The property needed deferred maintenance addressed, the vacancy minimized, code violations resolved, and crime remediated.  In 2015, after just a year of ownership, we had a massive cash out refi greater than 10x our initial cash investment.  We sold this property in 2018 for 250% of what we purchased it for.