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PORTFOLIO

80 Maple Apartments • Cleveland, Ohio

The Numbers

Purchase Price: $3,745,000
Capital Improvements: $350,000
NOI: $380,000
Cap Rate: 9%
Stabilized Value: $6,100,000
Equity: $1,500,000
Refinance Proceeds: $150,000
Cash Flow: $110,589
80-unit Apartment Complex, acquired in September 2020

Heights Apartments • Cleveland Hts., Shaker Hts.

The Numbers

Purchase Price: $9,200,000
Capital Improvements: $410,000
NOI: $924,000
Cap Rate: 6.5%
Stabilized Value: $14,250,000
Equity: $4,220,000
Refinance Proceeds: $800,000
Cash Flow: $217,400
164-unit Apartment Complex, acquired in August 2019

Westwind Apartments • Albany, Georgia

The Numbers

Purchase Price: $5,350,000
Capital Improvements: $1,500,000
NOI: $804,694
Cap Rate: 11.3%
Stabilized Value: $11,500,000
Equity: $4,375,000
Refinance Proceeds: $1,500,000
Cash Flow: $217,032

 

200-unit Apartment Complex, acquired in April 2019

Crosby Park Apartments • Lawton, Oklahoma

The Numbers

Purchase Price: $6,170,000
Capital Improvements: $1,193,750
NOI: $737,659
Cap Rate: 9.8%
Stabilized Value: $10,540,000
Equity: $2,990,000
Refinance Proceeds: $360,000
Cash Flow: $213,507

 

216-unit Apartment Complex, acquired in May 2019

South Mock & Vista Pointe • Albany, Georgia

The Numbers

Purchase Price: $20,000,000
Capital Improvements: $1,253,000
NOI: $2,283,811
Cap Rate: 10.5%
Stabilized Value: $32,270,000
Equity: $13,550,000
Refinance Proceeds: $2,970,000
Cash Flow: $647,742

 

492-unit, 2 Apartment Complexes, acquired in August 2019

Ashley Woods & Whispering  Woods • Macon, Georgia

The Numbers

Purchase Price: $12,750,000
Capital Improvements: $1,686,000
NOI: $1,319,089
Cap Rate: 8.9%
Stabilized Value: $21,110,000
Equity: $6,270,000
Refinance Proceeds: $990,000
Cash Flow: $328,168

 

204-unit Apartment Complex, acquired in November 2019

Georgia Plains • Multiple locations in Georgia

The Numbers

Purchase Price: $9,600,000
Capital Improvements: $1,017,500
NOI: $2,800,000
Cap Rate: 11.7%
Stabilized Value: $40,300,000
Equity: $16,200,000
Proceeds: $6,100,000
Cash Flow: $874,000

 

703-units, 5 Apartment Complexes, acquired in June 2018

Northwest Albany Apartments • Albany, Georgia

The Numbers

Purchase Price: $14,611,000
Capital Improvements: $1,017,500
NOI: $2,221,497
Cap Rate: 14%
Stabilized Value: $30,640,000
Equity: $14,740,000
Refinance Proceeds: $5,548,000
Cash Flow: $760,000

 

407-units, 3 Apartment Complexes, acquired in December 2018