ASSET TYPE Class B multifamily – 120 units
Ownership period: 2017-2021
Return on Equity: 113.5%
Annualized return on Equity: 24.9%
Increase in value: 99.2%
Increase in NOI: 62%
Our fifteenth asset to be taken full-cycle, Indigo suffered from former ownership’s neglect of both the property and its residents at the time of purchase. It took most of our ownership term to stabilize Indigo as we worked through COVID-related impacts and challenging resident issues. Through upgrading both unit interiors and exteriors, maintenance of its general condition, and a complete rebranding, we were able to significantly increase income during the time we owned the property. Through such efforts, the asset doubled its value under our 4.5 years of ownership, exceeding our projected net investor return by 14% about half a year sooner than targeted at the time of acquisition.