131 S. Magnolia Ave.,
Magnolia is a 24-unit apartment building in Anaheim, California. Eric Kramer purchased Magnolia with a group of investors in July 2014. Independence Bank, which was subsequently acquired by Pacific Premier Bank, provided the acquisition financing. Structure PMG was hired to provide property management services.
Services & Improvements
After a successful repositioning of the asset, which included addressing deferred maintenance, a series of value-add capital improvements and increases to the income, we sold Magnolia in October 2017.
Through the sale and other distributions we were able to achieve a 26.32% IRR for the investors.