Case Studies

Lenoxplace & Strickland Farms

Raleigh, NC
420 units
Acquired: March 2011
Acquired assets from Spec...

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Lenoxplace & Strickland Farms

Raleigh, NC
420 units
Acquired: March 2011
Acquired assets from Special Servicer, infused capital and stabilized
Sold: September/October 2014
Realized 46.6% IRR

 

Michigan 7 Portfolio

Lansing & Detroit, MI
1,843 units
Acquired: December 2004
Infused capital, cr...

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Michigan 7 Portfolio

Lansing & Detroit, MI
1,843 units
Acquired: December 2004
Infused capital, creatively financed and dramatically increased profitability
Sold: February 2012 (231 units) & November 2014 (1,612 units)
Realized 29.2% IRR

 

Columbus 7 Self-Storage Portfolio

Columbus, OH
3,105 units
Acquired: May 2008
Acquired mismanaged asse...

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Columbus 7 Self-Storage Portfolio

Columbus, OH
3,105 units
Acquired: May 2008
Acquired mismanaged assets, replaced on-site management and stabilized
Sold: April 2015
Realized 44.4% IRR

Waverly Station (I & II)

Savannah, GA
329 units
Built: February 2011 (222 units) & November 2012 (107...

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Waverly Station (I & II)

Savannah, GA
329 units
Built: February 2011 (222 units) & November 2012 (107 units)
Developed and constructed Class A asset with HUD debt in burgeoning Southeast market
Sold: November 2015
Realized 32.6% IRR

Indiana 6 Self-Storage Portfolio

Elkhart, Evansville & Ft. Wayne, IN
2,789 units
Acquired: April 2014
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Indiana 6 Self-Storage Portfolio

Elkhart, Evansville & Ft. Wayne, IN
2,789 units
Acquired: April 2014
Acquired mismanaged assets, replaced on-site management and stabilizing
Unrealized Proforma 19.3% IRR

Hampton Chase

Nashville, TN
202 units
Acquired: November 2014
Acquired seasoned asset with upside pote...

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Hampton Chase

Nashville, TN
202 units
Acquired: November 2014
Acquired seasoned asset with upside potential; executing $1.4M capital plan
Unrealized Proforma 21.8% IRR

Arbor Creek

Raleigh, NC
280 units
Acquired: August 2015
Acquired seasoned asset with upside potential;...

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Arbor Creek

Raleigh, NC
280 units
Acquired: August 2015
Acquired seasoned asset with upside potential; executing $1.8M capital plan
Unrealized Proforma 18.7% IRR

Reserve at Magnolia Ridge

Cary, NC
360 units
Acquired: October 2015
Acquired seasoned asset with upsid...

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Reserve at Magnolia Ridge

Cary, NC
360 units
Acquired: October 2015
Acquired seasoned asset with upside potential; executing $2.2M capital plan
Unrealized Proforma 18.3% IRR

Wellsley Park at Deane Hill (I & II)

Knoxville, TN
358 units
Built: January 2015 (Phase I; Phase II curre...

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Wellsley Park at Deane Hill (I & II)

Knoxville, TN
358 units
Built: January 2015 (Phase I; Phase II currently under construction)
Developed and constructed Class A asset in two phases with HUD debt
Unrealized Proforma 20.7% IRR

Enclave at Bailes Ridge

Charlotte, NC
246 units
Built: June 2015
Developed and constructed Class A ass...

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Enclave at Bailes Ridge

Charlotte, NC
246 units
Built: June 2015
Developed and constructed Class A asset with HUD debt in dynamic Southeast market
Unrealized Proforma 22.9% IRR