Eagle Creek Apartments

Multifamily (Chicago – DuPage County)

The Equity Growth Opportunity:

• Complete extensive upgrade of the exterior look of the property, and selectively improve unit interiors and constructing a club house.

Comments:

• Total revenue per unit increased 24% ($843 per unit in August 2014 vs $1,044 in August 2016) and we only renovated 40% of the apartments.
• Our annualized NOI figures increased 33% in our first two years of ownership ($1.82 million vs. $2.43 million).
• We sold Eagle Creek Apartments after three years and achieved a project level IRR upon sale of 27% with only 66% leverage.