Joint Venture Value-Add
- San Diego, CA
Investment Date: August 2018
Form Value-Add Joint Venture to acquire 172 units in downtown San Diego, and execute a complete renovation on all common areas, exteriors, and unit interiors.
$52,000,000 total capitalization
85/15 initial equity
Preferred return + promote waterfall
70% LTV bridge loan
Expected 2-3 year hold to execute renovations, stabilize and sell
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