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Investment Details

Acquisition Date

Investment Summary

Great Northern is a 38 unit apartment building that presented an excellent value-add opportunity through physical asset and operational efficiency improvements. Upon acquisition, Great Northern collected in place rents nearly $200 below the sub-market comps.  The investment strategy included refinancing of the property after successful execution of revenue increase attained by the improvements to management and the property.  Great Northern refinance will occur in May of 2017, and repatriate over 30% of our investor's capital and boost annual cash distributions above 8%.