Address: Castroville, CA
Type: Apartments Market Rate
Execution: Lender REO, Off-Market
YOC: 1990, Rehabbed 2018
Date Acquired: May 2014
100% Interior & Exterior Renovation, re-branding, re-tenanting and re-positioning of Asset.
60% Rent Lift; Average Project level returns through stabilization of 8.56% Unleveraged ROC / 10.87% Leveraged ROE with an Unrealized 2.88x Equity Multiple and 30.97% IRR.