Operator delivers Double Digit return to investors
Southfield, MI, November 30th, 2021 – RESSCO Holdings, the Operator and Sponsor of Knoll Ridge Townhomes and Apartments in Indianapolis, IN, sold the 354-unit community on October 15, 2021. Knoll Ridge (formally Berkshire Square Apartments) was purchased in 2018 and was a challenging asset due to external factors beyond management’s control. Despite these challenges, management still delivered a double digit IRR at exit to all investors in the project.
It goes without saying that a few investors in the project were worried when the challenges arose Investors such as Ian Burnstein commented, “I was definitely concerned. However, RESSCO is a highly skilled sponsor and we never lost faith that they would find a way to overcome the challenges and deliver.”
About RESSCO
Real Estate Service Solutions Company (RESSCO) is a full service commercial real estate company that specializes in multifamily real estate. RESSCO offers a wide array of services that include property 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 that is unsurpassed in the industry.
RESSCO’s management team has more than 75 years of combined experience involving multi-million dollar real estate transactions, equity investments and development/construction projects.
For more information, visit www.ressco.com