EQUITY MULTIPLE 2.33x
LEVERAGED IRR 24.96%
The 79 unit Country Club apartments had been suffering from passive management and was experiencing below market rents as a result. With deferred maintenance and exterior renovations needed, DIG stepped in with a value-add business plan to take over previous family ownership.
DIG implemented a renovation plan for the grounds/exteriors of the unit buildings, leasing office and clubhouse. Unit interiors were also brought up to modern standards and active property/leasing management was put in place. The property was sold in June of 2017.