Operator delivers near 20% IRR on portfolio deal
Southfield, MI, June 24th, 2022 – RESSCO Holdings is pleased to announce the successful sale of a 1,912 apartment unit portfolio that included seven locations. The projects sold were: Carriage Hill, Carriage Park, Macomb Manor, Newburgh Square, Northview Harbor, The Sapphire, and Capital Village. As operator and sponsor, RESSCO navigated the challenges presented by the COVID pandemic while executing a value-add business plan and delivering double digit risk-adjusted returns to its investors.
RESSCO was able to produce outsized investor returns through its focus on improving asset quality and tenant experience. Investors in the project were excited with the results, as Robert Verdun commented, “I am very pleased with the care RESSCO applied to my investment. Even through these challenging times they have shown an exceptional resolve to generate returns for their investors, which was key to generating this successful exit.”
About RESSCO
Real Estate Service Solutions Company (RESSCO) is a full service commercial real estate company specializing in multifamily real estate communities. RESSCO offers a wide array of services including asset management, construction management, development, and private placement investments. Multifamily real estate has unique challenges and RESSCO’s specialized skill set allows it to deliver a level of expertise unsurpassed in the industry.
RESSCO’s management team has more than 75 years of combined experience and has capitalized over $1 billion of real estate transactions.
For more information, visit www.ressco.com.