Miami Beach, FL
In March of 2021 we purchased a well located but significantly underperforming 28 unit multifamily asset. We are in the process of investing approximately $1,000,000 into improving the appearance and functionality of the buildings. We are achieving rents over 100% higher than when we purchased the property. We have also significantly reduced expenses and are projecting a stabilized value over 2x the purchase price and 1.65x our cost basis.
Carmel, IN
We purchased a dark restaurant building and negotiated a lease buyout with the tenant. We then signed a new lease with a regional restaurant tenant, who defaulted on their lease. Through a lawsuit we recovered our damages and were made whole. We switched strategies during the Covid pandemic and were able to attract the attention of a financial institution who signed a 12 year lease agreement. We invested $1.5 million to improve the property. We sold the property in summer of 2023, the investors received 75% over the hold period.
Indianapolis, IN
We purchased a stabilized asset with a credit tenant who had recently renovated the interior of the property. After four years of cash flowing at approximately 17% annually, the tenant wanted out of their lease. We negotiated a lease buyout at over 2.65x our equity investment in the property. We sold the property a year later for a small profit. The project had a 3.48 equity multiple and a 45% IRR.
Bartlesville, OK
We purchased the property in April of 2016. The tenant had a short lease term remaining which we immediately renegotiated. This increased the value of the property by 50%. We sold the property 15 months later, with a 192% IRR.
South Bend, IN
We purchased a stabilized asset, with two short term leases. We renegotiated new leases with both tenants. This increased the value of the property significantly, and allowed us to refinance and cash out our initial equity we put into the deal. We sold the property after a 5 year hold and a 31.62% IRR over the hold period.
Camden, AR
We purchased the property in October 2015. The tenant had a short term remaining on their lease. We negotiated a new lease and replaced the roof as part of the negotiation. We sold the property after 1 year, with 114% IRR and completed a 1031 exchange.