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Multi family acquisition
In April 2018 we acquired 82 units in an existing multi family building with additional developable upside for town homes in Port St. Lucie, Florida north of Miami and 125 miles southeast of Orlando. We immediately implemented several value accretive initiatives for amenities and utilities and actively increased rents while upgrading common areas including the gym, pool, video room and other such areas. We are in the process of amending the Planned Unit Development (PUD) that is pending approval for 15 townhouses which is a guaranteed upside for the next buyer.
features
- Gym
- Sauna