Abbey Lake Apartments (Thomasville, GA)
Summary: 1975/2010 vintage Class B-/C+ multifamily property consisting of 152 units. The asset was well-maintained and stabilized at time of purchase. Located in a strong sub-market near the Florida / Georgia line.
GMC Equity role: Limited Partner February 2019 - present
projected returns: 9% CoC and 18% AAR
Norbrook Manor (Louisville, KY)
Summary: 1971 vintage Class C multifamily property consisting of 94 units. Located in a strong sub-market, a few blocks away from the General Electric Appliance Park, which has added 400 jobs in the past year.
GMC Equity role: Limited Partner May 2017 - present
projected returns: 11% CoC and 19% IRR
Cornerstone Apartments (Dallas, TX)
Summary: Class C multifamily consisting of 205 units.
GMC Equity role: Limited Partner - July 2014 - October 2015
projected and realized return: 17% IRR