Multifamily

Value-add

A 484-unit community built in 1973

IRR
26%
Units
484
Year invested
2021
Pine Hill, NJ
Details
  • A 484-unit community built in 1973
  • Value add program included the renovation of the property`s infrastructure and unit interiors
  • After ~2 years of ownership the average rent was increased by more than 35%

Value-add

A 304-unit garden style apartment community

IRR
15%
Units
304
Year invested
2020
Atlantic Highlands, NJ
Details
  • A 304-unit garden style apartment community
  • Value add program includes the renovation of the remaining ~50% unrenovated units
  • Within 1.5 years of ownership, a 61% NOI increase was achieved through the value-add program implementation

Value-add

Conversion of a 300-unit student housing asset to a conventional multifamily community

IRR
20%
Units
300
Year invested
2021
Tucson, AZ
Details
  • Conversion of a 300-unit student housing asset to a conventional multifamily community
  • Business plan focuses on repositioning the property as a unique luxury offering with specific emphasis on the amenities package
  • Within ~1 year of acquisition the NOI has improved by ~80%
  • All strategies
  • Value-add