Value Add Multi-Family Syndication Cleveland, Ohio

[Steven Gesis]

Investment Info:

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

112 Unit Multi-Family Value-Add

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

Diversify our portfolio among SFR and MF

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

Off-Market, we worked with local brokers to identify a strategic vision and partnership to deploy capital for our fund

How did you finance this deal?

The deal was funded equity and debt via a syndication

How did you add value to the deal?

We are market makers, we were able to reposition this building into a B product, with a massive CAPEX for renovating units and interiors, as well as infusing a boatload of amenities for residents.

What was the outcome?

Able to raise rents north of 25%

Lessons learned? Challenges?

Every single one of these deals and construction mobilization is a lesson

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

Smartland