EQUITY MULTIPLE 1.47x
LEVERAGED IRR 18.06%
Kelsey Residences was an opportunistic purchase at certificate of occupancy of a class A 42 unit property. The property was acquired directly from the developer who was motivated for quick close prior to lease up as the project had experienced significant construction delays and the loan was due.
DIG leased 100% of the property within 60 days of acquisition at rents above anticipated pro-forma projections. The asset was sold in August of 2015.