EQUITY MULTIPLE EQUITY MULTIPLE 1.48x
LEVERAGED LEVERAGED IRR 17.81
Chancellor Arms was a 25 unit apartment asset built in 1964 that was a lender owned REO that had been recently foreclosed. Existing rents were below market value with renovations needed in units and common areas.
DIG acquired the asset through a relationship with the lender and completed renovation plans, bringing the rents to market rates. The property was sold in December of 2013.