Acquired: August 2018 – $16M

Sale Pending: August 2021

Projected Returns: 15% IRR

Anticipated Investor Returns: 23% IRR, 1.8x equity multiple (Example: $100k invested returns $180k)

This 98-unit apartment complex is located 5.5 miles from Downtown Phoenix and 3 minutes away from the expanding Grand Canyon University. Built in 1986, the complex has only traded owners a handful of times resulting in a large value-add investment. Acquired in late 2018 for $8.1M, our team is currently renovating the entire complex with a $1.5M budget.