60 unit active adult community

[Brandon Beatty]

Investment Info:

Large multi-family (5+ units) buy & hold investment in Old Saybrook.

Purchase price: $7,250,000
Cash invested: $3,500,000

60 unit apartment complex purchased off market from same owner of 20 years

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

Newer construction and upside with rents

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

Broker found it off market

How did you finance this deal?

Non recourse Fannie

How did you add value to the deal?

Light renovation

What was the outcome?

Increased NOI by 25%