December 1, 2021
This 76 Unit property was purchased in 2013 in a joint venture between Sage Capital, LLC, and regional real estate investor. This property held tremendous potential, but after years of deferred maintenance and insufficient capital to do the repairs, the properties occupancy and overall physical presence suffered. After completing numerous unit turns, upgraded pool area, landscaping overhaul, and attention to the larger deferred maintenance items, we were able to raise occupancy to the high 90%, and raise rates by 35% across the board. Sage Capital exited the partnership after two years and was rewarded with a high double-digit return on their capital investment.
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