Portfolio
Pearl Street Apartments
Pearl Street Apartments is a 46-unit multifamily property located in the heart of Springfield, Massachusetts. Comprising a diverse unit mix of studios, one-bedrooms, and two-bedrooms, the property offers considerable upside through rent repositioning, as current rents remain below market levels. With strategic value-add renovations, there is a clear path to enhancing net operating income (NOI). Situated in a market experiencing steady growth, this asset is well-positioned for investors to benefit from both near-term rental income gains and long-term property appreciation.
Metrics
14-16% Average Cash-On-Cash Return
16-18% IRR
7-Year Hold
Refinance at year 4
2.2 - 2.25x Equity Multiple
Union Court Apartments
Union Courts is a 64-unit multifamily asset located in Springfield, Massachusetts, offering compelling value-add potential. With average rents currently trailing the market by approximately $160 per unit, the property presents a clear opportunity to drive increased cash flow and asset value through targeted capital improvements. This immediate income upside, combined with Springfield’s continued economic growth, positions Union Courts as a high-yield, strategic addition to our multifamily portfolio.
Metrics
12.28% Average Cash-On-Cash Return
16% IRR
7-Year Hold
Refinance at year 4
2.25x Equity Multiple