Case Study
Villa Grande
Villa Grande
7720 Crescent Ave.,
Buena Park, CA
- City: Buena Park
- Property Size: 46 Units
- Purchased: May 2015
- Cash Flow Distribution Began: September 2015
- Refinanced: February 2019
Before
After
Background
Villa Grande is now a 46-unit apartment building in Buena Park, California. Eric Kramer purchased Villa Grande with a group of investors in May 2015. Chase Bank provided the acquisition financing. Structure PMG was hired to provide property management services.
Services & Improvements
After our acquisition, we were able to obtain approvals for and complete the addition of two new units, bringing the unit count from 44 to 46 and creating substantial additional value.
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 completed a refinance with Pacific Western Bank in February 2019.
Results
The refinance resulted in a significant distribution to the investors.