Park Valley

Overview

At acquisition, this 236-unit property was in a highly distressed condition, operating at just 40% occupancy. While the low occupancy presented operational challenges, it also allowed the Sponsor to begin renovations on the majority of units immediately. A $5.5 million capital plan was executed with a large construction team, targeting exterior upgrades, full interior renovations, amenity improvements, and a complete overhaul of the community clubhouse.

The property’s strong visibility and high traffic location supported rapid lease-up efforts. Stabilized occupancy was achieved quickly, surpassing 90%. Following the completion of the value-add strategy, the property was refinanced, returning more than 100% of the investors’ initial equity prior to a profitable sale. The investment ultimately delivered a 50% IRR.

Acquisition Metrics

Disposition Metrics