Acquired off-market the 54 apartments at 11^th Street and Lake Street were an opportunistic note purchase as the borrower was in default on their loan and the property was suffering from deferred maintenance and low occupancy.

DIG acquired the cross collateralized note all cash in an extremely quick close from the lender and then worked with the existing ownership to conduct a friendly foreclosure on the assets.  Both properties were subsequently renovated and occupancies increased to over 95%.  The Lake Street property was then sold separately to a private investor and a cash-out refinance was completed of the 11^th Street building before it was eventually sold.