Fund I Portfolio
Ashbury Courts
Description
2008 vintage Class A apartment located in the Washington D.C. and Baltimore MSAs. The property is located in a transit-oriented development (T.O.D.) with a central location and is adjacent to The Marc Train station at Paddock Pointe
The deal has an attractive basis with low leverage and an experienced sponsor Midloch Investment Partners. Additionally, it is a 99% occupied Class apartment in a walkable, A-rated neighborhood with under-market rents and commercial value-add potential.
Details
Target Equity Multiple: 1.55x
Target IRR: 15%
Asset Type: Multifamily
Deal Type: Value-Add
Sponsor: Midloch
Target Investment Period: 3 years
