LOCATION St. Louis, MO
ASSET TYPE Class C multifamily – 160 units
Ownership period: 2017-2022
Return on Equity: 205.1%
Annualized return on Equity: 32.6%
Increase in value: 62.9%
Increase in Collected Income: 26.6%
A stabilized asset with a long history of steady rent growth and purchased from the original developer, Waterford Square did not require unit upgrades to capture incremental increases in rent. Through maintaining its good physical condition, we were able to significantly increase income during the time we owned the property. As the fourteenth asset taken full-cycle and our first investment in St. Louis, Waterford Square provided investors with a total return of 205.1%, 63% greater than our projected net investor return for this asset.