Chicago Area Schaumburg – Note Sale, Foreclosure, and Value-Add Multifamily

Deal Highlights

• Purchased non-performing Note secured by 63 condo units
  
• Took title to property through foreclosing on the Note – 6 months
  
• Replaced property management and stabilized units within 3 months of taking title – 97% occupancy
  
• After stabilization, received permanent loan on the units at 107% LTC
  
• Appraised value after stabilization was 160% the acquisition price