Portfolio

BellaVista Apartments

Address: Castroville, CA
Type: Apartments Market Rate
Execution: Lender REO, Off-Market
YOC: 1990, Rehabbed 2018
Units: 24
Date Acquired: May 2014

Strategy:
100% Interior & Exterior Renovation, re-branding, re-tenanting and re-positioning of Asset.
Performance:
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.

CityPlace Apartments

Address: Concord, CA
Type: Apartments Market Rate
Execution: Lender REO, Off-Market
YOC: 1964, Rehabbed 2011
Units: 48
Date Acquired: October 2014

Strategy:
Reposition a rehabbed but under-performing Asset with significant Loss-to-Lease and operational inefficiencies.
Performance:
40% Rent Lift; Average Project level returns through stabilization of 6.38% Unleveraged ROC / 6.37% Leveraged ROE with an Unrealized 2.31x Equity Multiple and 24.41% IRR.

TownView Commons

Address: Dixon, CA
Type: Apartments Market Rate
Execution: On-Market
YOC: 1964, Rehabbed 2018
Units: 36
Date Acquired: December 2015

Strategy:
100% Interior & Exterior Renovation, re-branding, re-tenanting and re-positioning of Asset.
Performance:
40% Rent Lift; Average Project level returns through stabilization of 6.88% Unleveraged ROC / 7.82% Leveraged ROE through stabilization with an Unrealized 2.55x Equity Multiple and 29.65% IRR.

AltaVista Commons

Address: Scramento, CA
Type: Apartments Market Rate
Execution: On-Market
YOC: 1963, Rehabbed 2019
Units: 76
Date Acquired: December 2016

Strategy:
100% Interior & Exterior Renovation, re-branding, re-tenanting and re-positioning of Asset.
Performance:
Renovation completion in 2019 Q3.

Sutter Commons
Sutter Commons

Address: Yuba City, CA
Type: Apartments Market Rate
Execution: On-Market
YOC: 1978, Rehabbed 2021
Units: 68
Date Acquired: June 2019

Strategy:
100% Interior & Exterior Renovation, re-branding, re-tenanting and re-positioning of Asset.