Dalton GA Portfolio -Multifamily 📈

[Kristine Flook]

Investment Info:

Large multi-family (5+ units) commercial investment investment.

Purchase price: $20,623,000

240-unit, 3 property community Dalton sub-market of Chattanooga, Tennessee. Class B asset average rate of return (ARR) is anticipated to be over 21%! THE VALLEY AT MILL CREEK apartment community was built in 1985 and has 2 stories with 32 units.

What made you interested in investing in this type of deal?

20% + IRR

How did you find this deal and how did you negotiate it?

Relationship

How did you finance this deal?

N/A

How did you add value to the deal?

VALUE ADD PLAN YEAR 1 CAPITAL EXPENSE BUDGET Renovate interiors of 32 units on Dalton Beach Club (91 of 155 units have partial upgrades)Renovate interiors of 20 units on The Valley Address the deferred maintenance Exterior upgrades which include new signage, playground and landscaping. YEAR 2 CAPITAL EXPENSE BUDGET Complete interior renovations of remaining 32 units on Dalton Beach Club and 12 units on The Valley Swimming Pool upgrade

What was the outcome?

Value-Add

Lessons learned? Challenges?

N/A

Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?

YES