Seven Pointe
Seven Pointe had been neglected by the previous owner and required significant capital for deferred maintenance and renovations. The stabilization process proved to be one of our most challenging, but we leaned on the experience and expertise of our asset management and renovations teams to execute our business plan and exceed our projected returns upon sale.
Property Summary
State
Indianapolis, Indiana
Units
392
Year Built
1968
Previous
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Investment Summary
Purchase Price
$11.3MM
Total Investment w/Rehab
$24.5MM
NOI Increase %
345%
Sales Price
$40MM
Equity Investment
$8.0MM
Net IRR
25.5% (31.4% gross)
Net Multiple
2.51x (3.07x gross)
Hold Period
4 Years