Purchase Price $51,500,000 · Sold Price $74,000,000
a 259 unit apartment complex
Michael Mortimer oversaw the acquisition and disposition of this property during his time as Director of Acquisitions for a local investment company. Early in the property’s marketing process he identified the ability to add extensive value to it by modernizing the amenity package and updating unit interiors. He completed extensive financial analysis and due diligence review and assisted in securing financing for the property. After a thorough renovation process, he oversaw the sale of the property for $22,000,000 higher than the initial purchase price in less than five years. This privately gated community is nestled in a beautiful residential neighborhood. The property includes large living spaces, newly renovated fixtures and flooring, and gas fireplaces. The property includes seven pools, a large gym with new equipment, game room and leasing center.
