RECENT CLOSINGS
Germantown Village
In September 2024, Fund IV closed on the sale of 100 apartments in Louisville, Kentucky. We purchased the property in three separate off-market transactions from two different owners between June 2021 and March 2022. We invested approximately $1,200,000 to install central HVAC and new windows in all apartments, renovate 25 common stairways, and 76 of 100 apartment interiors. Watching this property contribute to the stabilization of an improving area has been exceptionally rewarding. We wish the buyer continued success.
Woodland Terrace
In July 2024 we closed on the purchase of 152 exceptionally well-located apartments in Tulsa, Oklahoma in Fund VI. The property was previously operated as Independent Living senior apartments. A cosmetic renovation of the property is currently underway to improve common areas and apartment interiors. All interior electrical panels have been replaced, and parking lot expansion is expected to begin in September. The property will be rebranded to Huntley Ridge Apartments, and we expect preleasing to begin shortly!
Summit Springs
In July 2024, Fund VI closed the purchase of 30 fully developed residential building lots in addition to partially developed ground platted for 34 additional lots in St. Clair, Illinois. The property is under an option sale agreement with an experienced builder we have worked with in several other successful new home communities. We anticipate beginning to sell lots before the end of the year.