Santa Monica – Micro Unit Multifamily Development
June 11, 2017
Chicago Area Schaumburg – Note Sale, Foreclosure, and Value-Add Multifamily
June 11, 2017

Deal Highlights

  • Purchased REO condo units in Class A location in Chicago
  • Selling bank provided acquisition debt financing at 75% LTC
  • Located directly next door to President Obama’s private residence and 5 blocks from University of Chicago
  • Property operating at 100% occupancy 3 months after acquisition
  • Increased rents at renewal and leased out all parking spots to achieve higher than projected rents
  • Currently own 74% of condo units; can gain control of HOA/building by acquiring 75+% of units