How we doubled the value of this 69-unit multifamily property in less than 15 months.
Mill Gardens Apartments — a 69-unit, single-story garden community in Middle Georgia, the 2021 "Mid-Market of the Year." Inside the case study e-book: the acquisition, the value-add execution, the refinance, and what we learned along the way.
Headline Numbers
What the deal actually did.
A closed historical event. Past performance is not indicative of future results.
Inside the PDF
The full deal walk-through.
Five sections covering how the deal came together, why we liked it, the value-add scope we executed on, and how it performed through the refinance.
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1
Why We Liked The Deal
Submarket, basis, vintage, demographics — what made this opportunity stand out from the underwriting we did that quarter.
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2
Acquisition & Deal Analysis
Purchase structure, debt, sources and uses, going-in cap rate, day-one rent comps, and projected cash-on-cash.
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3
Property Overview
Unit mix, building structure, amenities, market positioning, and the in-place tenant base at acquisition.
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4
Value-Add Business Plan
Interior renovation scope, exterior improvements, property management transition, expense optimization, and other-income drivers.
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5
The Refinance & Asset Performance
How the asset performed in the first 15–21 months, what triggered the refinance, the new debt terms, and the capital return to LPs.
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