Sirena Gordon Apartments, Hamilton, OH – 48 units

Business Plan: Full interior renovation of all units plus parking lot upgrades and exterior updates including rebranding. Increasing rents to market rate after renovation with wifi and premium utility package added.

August 2022 Update:

  • Interior unit renovations are being completed and we are ahead of schedule
  • Existing residents being upgraded to newly renovated units
  • Cost segregation study is being undertaken to potentially reduce tax liability and increase cash flow

Ridgeland Ranch Apartments, Ridgeland, MS – 129 units

Business Plan: Begin exterior and interior CapEx plan, improve gate and fencing to provide a more private feel, improve pool area and common area, add an additional picnic area with complex provided grills and gazebos, add playground amenities, cap the fireplaces and provide decorative accents, implement renewals and new leases at max rent, optimize operational inefficiencies, improve utility bill back schedule & capture other income (pet rent, etc.), explore cost benefit of low flow fixtures.

August 2022 Update:

  • Occupancy – 87%
  • Leasing remain strong and continue to lease at the market rent projections
  • Transitioned most of the residents to paying online
  • Estimate for completion for the outdoor pool area is September
Lake Forest Apartments, Daytona Beach, FL -384 Units

Lake Forest Apartments, Daytona Beach, FL -384 Units

Business Plan: Upgrade unit interiors, make improvements to the exterior, and complete the building’s amenities to gradually increase rents by offering quality interior units, and next level amenities that you’re only able to get at new construction properties.

August 2022 Update:

  • Occupancy – 96%
  • Realized 15 move-outs, 21 move-ins, 27 renewals, and 5 evictions this month
  • Barrier fence has been installed and the pool project is officially complete
  • Continuing to renovate interior units and adding unit washers/dryers

Grimes Townhouses – Middletown, OH – 8 units

Business Plan: Complete turnaround of all existing tenants followed by a full interior renovation of all units. New roof and exterior updates. Remove boiler and install PTAC systems in each unit. Increase rents to market rate with premium utility package added.

August 2022 Update:

  • 100% Renovated
  • 1 unit being marketed for residents

Pine Ridge Apartments – Middletown, OH – 48 units

Business Plan: Complete turnaround of all existing tenants followed by a full interior renovation of all units. New roof on one building, parking lot upgrades and exterior updates including rebranding the complex with new signage. Increase rents to market rate with wifi and premium utility package added.

August 2022 Update:

  • Refinanced in 21 months!
  • 4 units being evaluated for market