The 819 Apartments

Pontiac, Michigan (Owned)
Delivered: September 2020
Total Cost: $2.1MM

• Plan: Perform a complete gut and rebuild to convert a former college dormitory into apartment rentals
• Potential Deal Breakers: Maintaining construction costs in general and, specifically, performing during outbreak of Covid 19
• Result: Lost only two months of schedule and the asset is now 100% occupied with no issues since inception

Ypsilanti Apartments
Ypsilanti, Michigan (Owned)
Delivered: February 2019
Total Cost: $800k

• Plan: Diversify holdings by adding multi-family
• Potential Deal Breakers: Finding a multi-unit apartment building at an affordable cost
• Result: Fully occupied with no issues since inception

Madison Heights Recovery Home
Madison Heights, Michigan (Owned)
Delivered: November 2018
Total Cost: $200k

• Plan: Find an appropriately zoned residence to be utilized and at an affordable price point for a statewide provider of recovery care services

• Potential Deal Breakers: Overcoming the stigma associated with recovery housing

• Result: Fully occupied with no issues since inception