LOCATION Kansas City, MO
ASSET TYPE Class B multifamily – 124 units
Ownership period: 2016-2021
Return on Equity: 193.3%
Annualized return on Equity: 33.7%
Increase in value: 86.2%
Increase in Collected Income: 38.7%

Hilltop Village was the twelfth asset to be taken full-cycle by the partners. The first investment in Kansas City, Hilltop Village had extensive deferred maintenance issues and a lackluster operational history at purchase. Through substantial renovation and the streamlining of expenses, Hilltop Village’s NOI increased significantly under our ownership, resulting in a return substantially in excess of our projections. Many of this assets’ investors exchanged into Hilltop from the sale of Shannon Hills in Colorado Springs. With the sale, those investors earned a return of approximately 596.3% on their initial Shannon Hills investment over an 8.5-year investment period.