Operator delivers near 20% IRR
Southfield, MI, May 16th, 2022 – RESSCO Holdings, operator and sponsor of the Riverview Crossings Apartments in Riverview, MI, is pleased to announce the sale of the 300-unit community on April 27, 2022. Despite an ownership period challenged by the COVID pandemic, the management team was able to execute on its business plan and drive an excellent risk-adjusted IRR of almost 20% over four years.
Given the recent economic whirlwinds, investors in the project were excited for the financial returns. Investor Mel Partovich commented, “At the end of the day RESSCO did a great job with this deal. It looks like every promise made was a promise kept and I thank you for finding the deal for me. As it turns out my initial investment will provide a very solid return and may I add, this investment outperformed all of my other apartment deals over the last two years.”
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.
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