Case Study


Vine Fullerton Apartments

1320-1351 S. Vine Ave.,
Fullerton, CA


Vine is a 98-unit apartment building in Fullerton, California. Eric Kramer purchased Vine with a group of investors in October 2013. 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 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.