172 Units
Constructed: 2004
Investment Date: August 2018

Investment Strategy Highlights

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.

Structure:

$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