Description

Value enhanced by strong marketing plan and immediate renovation of building.  Renovations included new common area lighting, wall coverings, carpet, marble and granite tile and restroom improvements.  Increased occupancy from 80% to 95% within 3 months after acquisition.  Maintained 85% occupancy.  Increased NOI over $75,000 within the same period.  Refinanced this asset with a $4,600,000, 30-year amortization, 10-year fixed, non-recourse load at 7.19% interest rate.

Details