Large Multifamily Project

[Greg Troast]

Investment Info:

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

Purchase price: $75,000,000
Cash invested: $25,000,000
Sale price: $125,000,000

400 unit apartment complex a long with retail

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

Great property, only 15 minutes from George Washington Bridge

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

The property was a redevelopment with the city

How did you finance this deal?

conventional

How did you add value to the deal?

Getting approvals, constructing building

What was the outcome?

Sold to JP Morgan at a 4% Cap Rate

Lessons learned? Challenges?

Long project with a lot of patience