Case Study

Magnolia

Magnolia apartment building Structure PMG

Cantamar Apartments

131 S. Magnolia Ave.,
Anaheim, CA

Background

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.

Results

Through the sale and other distributions we were able to achieve a 26.32% IRR for the investors.