Updated almost 7 years ago on . Most recent reply
Recent multifamily purchase
Investment Info:
Large multi-family (5+ units) buy & hold investment in Thomasville.
Purchase price: $8,600,000
Cash invested: $2,500,000
152 Unit Apartment complex. Value Add acquisition. 5-7 year hold.
What made you interested in investing in this type of deal?
Great value add, cash flowing from day one, great area, class B/C.
How did you find this deal and how did you negotiate it?
This deal was brought to my partner through a broker relationship, truly off market, it was not presented to anyone else.
How did you finance this deal?
Fannie Mae Green loan
How did you add value to the deal?
We will be adding value through improvements in operation and repairs, increasing rent.
Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?
Yes, thank you Franklin Street (insurance), and Arbor (lending).
