This is a recent acquisition (Q4-2016) using a Fannie Mae loan provided by CBRE. Based on current NOI and projected NOI, we expect to see double-digit cash-on-cash returns in year one and the following years. This is a value-add opportunity, allowing the partnership to provide updated property amenities and full remodels to approximately 40% of the units. The exit strategy at the time of acquisition was to sell or refinance at 3-5 years, contingent upon market conditions and or interest rate, providing a return of capital to our investors, with potential continued cash flow.
Albuquerque, New Mexico