NORMANDIE & MARIPOSA
EQUITY MULTIPLE 1.21x
LEVERAGED IRR 7.84%
Acquired in November of 2011 the Normandie & Mariposa properties were adjacent lender owned (REO) distressed acquisitions. At purchase the assets were mismanaged, with below market rents, deferred maintenance and experiencing occupancy challenges.
DIG completed the deferred maintenance, increased rents and occupancy to market and managed the assets until they sold in September of 2014.