62 Units in Johnson City Tennessee undergoing a complete renovation. We bought this property at a great price, but in tremendous need of repairs and updating. We are using a bridge loan with plans to refinance into long term agency debt by early 2020.
A great B class portfolio in a nice residential neighborhood. Purchased in February 2019 with $100-$150 upside in rents.
41 units in Chattanooga. This property was $100 under market rent when we took possession in February 2019. Fully renovated units are meeting our pro forma projections and legacy units are releasing to market rents without significant upgrades.
Purchased in March 2020, we have realized $100-$150 rent increases with a modest rehab strategy. With it proximity to the Easter Tennesee State University and the health care district, we are confident that the location will be desirable for years to come.
Purchased in March 2021 this B class property is poised for growth with only light rehab and management efficiencies needed to achive $100 rent increases.
This value add was purchased in December 2021. Although needing significant improvements, and well below market rents, we anticiapte solid performance once stabilized.
This 506c syndication was stabilized when we purchased, but it's out dated interiors limited it's market appeal. We're investing significant money into interior upgrades and exterior amenities to create one of the most desireable properties in this smaller market outside of Knoxville.
This portfolio is a partnership with The Requity group. It covers two resorts in Kentucky and Tennessee. Both have significant opportunity through operating efficiencies.
Located in one of the most visited National Parks in America, this park has both development potential and significant updside by changing from monthly to daily rentals.