Champion Glendale
Two-property traditional multifamily portfolio in Glendale, CA.
Champion Glendale
Project Profile
Investment Type: Multifamily Value Add
Units: 104 one, two- and three-bedroom units
Purchase Price: $33,600,000
Project Cost: $38,525,000
Est. Equity Investment: $12,750,000
Status
Stabilized
Business Plan
Buy newly constructed community in a gentrifying market with long-term debt at an attractive cap-rate; implement operational improvements; hold for long-term investment benefiting from rent growth, increased cash flow, and cap-rate suppression in a rapidly expanding Nashville market.
Investment Highlights
Location: Core locations in Glendale, CA
Purchase: Off-market at discount to market value
Budget: Value-add improvements completed early and under budget.
Performance: Refinance occurred four months ahead of forecast schedule at acquisition.
