JVEP Ashton Park Multifamily, LLC provided 92% of the equity required for the acquisition of a 148-unit multifamily property located in Killeen, TX. Occupancy was 90% at acquisition and rents averaged over 20% below market. Minor exterior renovations were completed shortly after closing and interior renovations were completed as units turned. Ownership was able to achieve 98% occupancy and year three proforma rents within the first year of ownership. The property was marketed for sale and sold in November 2022. Proceeds from the sale beat original proforma expectations.

Investment Date: 9/01/2021
Hold Period: 18 months
Investor Return: 40%/1.55x’s multiple

* Past performance is not a guarantee of future results