A San Diego asset acquired at an extremely favorable basis with tremendous opportunity. Upon acquisition, Trion is taking steps to cure deferred maintenance, improve the design of the building and renovate the unit interiors in order to maximize the property's potential. Upon execution of the business plan, Trion plans to refinance the property and hold for cash flow until a probable year 5 exit.
- No. of Units: 98
- Acquisition Date: June 2015
- Acquisition Price: $9,650,000
- Renovation Costs: $2,680,000
- Projected Project Level IRR: 27%