ATLANTA GA
260 UNITS
Purchase Price: $14,050,000
Sale Price: $20,000,000
Time Held: 28 months
Project Level IRR: 23%
Project Level EM: 1.62x

Forty Three 75, formerly Country Squire Apartments was acquired as an off-market opportunity brought to URS by a local family owned brokerage. While the property is well maintained, it is self-managed with a mentality of keep the rents low and keep the occupancy high.

Our total hold time on this project was 28 months from purchase to sale. During this time, we completed a $1.5M capital improvement program, re-tenanted nearly the entire property, increased average rents over $200 per unit and stabilized occupancy at over 92%. Forty Three 75 sold for $20,000,000.

URS was able to achieve a Project Level IRR of 23% and an EM of 1.62x for our investors.