SAN FRANCISCO, CA (April 2016) — Ron Abta and Travis Pacoe, principal investors and managers of multifamily properties in the mid-western and central United States, have refinanced one of their properties. This recapitalization is the fourth capital event of their current portfolio, started in 2012. The total return for these 4 properties was 415%, or an average per-property annual return of 37.5%.
“This refinance valued Avalon Valley at $7.7 Million, a 133% appreciation during the 28 months since acquisition – an increase in equity of $4.4MM. During that time we doubled the property’s net operating income,” stated Travis Pacoe, general partner of Polaris Real Estate Partners. “The second loan’s balance, provided by the existing FNMA lender, represented the first time this lender has provided a second loan larger than their existing first note.”
“The second allowed us to distribute $1.83MM to our investors in April. To date, we have returned 108% of our investors’ equity, or an average annualized return of 46.4%,” noted Ron Abta, Polaris general partner. “Post-recapitalization, we have maintained 100% ownership, a healthy income statement going forward and well-capitalized balance sheet for a variety of improvements we’ll put in place in the coming months.”
Polaris Real Estate Partners specializes in multifamily investment in the mid-western and central United States, with its principals collectively holding 40 years of direct real estate investment experience and approximately 1,650 units currently under ownership and management. The company and its principals have acquired multifamily properties, warehouses, manufacturing facilities and retail properties as well as improved and unimproved land. Polaris Real Estate Partners is currently seeking projects 150 to 500 units in size in the mid-western and central U.S.
Contact:
Travis Pacoe or Ron Abta
Polaris Real Estate Partners
415-826-5202 main
tpacoe@polaris-lp.com; rabta@polaris-lp.com