Case Study
Magnolia
Cantamar Apartments
131 S. Magnolia Ave.,
Anaheim, CA
- City: Anaheim
- Property Size: 24 Units
- Purchased: July 2014
- Cash Flow Distribution Began: October 2014
- Sold: October 2017
- Investor IRR: 26.32%
- Investor Multiple: 2.12
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.