Overview:   The property is a bread and butter, cash flowing asset.  The property is situated within the Greater Pensacola MSA and consists of 120 apartments.  The unit mix is very attractive with (40) 1Brm/1Bath, (60) 2Brm/2Bath and (20) 3brm/2.5 bath units.  The property features a large pool and sundeck as well as a 2500 sqft fitness center. The grounds and amenities are well maintained, and the complex is gated for security. The property was originally completed in 2018 and was transferred to a third-party trustee when the original developer defaulted.  After stabilizing cash flow the trustee is offering the property for sale.

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Repositioning:  The property will be acquired for $12.5 Mil.  We will allocate an additional $50,000 for minor improvements to the entrance facade and signage.  The property will also benefit from our installation of a professional management team that will be able to quickly improve the tenant experience.

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