Vine Fullerton Apartments
1320-1351 S. Vine Ave.,
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 refinance Vine in January 2017 with First Foundation Bank. In January 2020 we completed the sale of Vine significantly exceeding our initial investment return projections.
The refinance allowed us to make a substantial distribution and return of invested capital to Vine’s investors. Then, in January 2020, we completed a successful sale of Vine where the investors achieved a 22.59% IRR and a 2.93x multiple.