Racine, WI
112 Unit Value-Add Apartment

Aquired: 2019
Sold: 2022

Investor IRR:
14% Projected
26.56% Actual

Equity Multiple:
2.21x Projected
2.05x Actual

Greenwood Beach Partners purchased an off-market Class C property. After rebranding the property and introducing professional management, rents were organically moved and about 5% of the property was rehabbed to position for sale as a proof-of-concept value-add transaction. The property was sold in three years, meeting OM equity multiple objectives in three years instead of the initial projection of seven years.