Savannah, GA   278 Units
Purchase Price: $21,000,000
Sale Price: $37,300,000
Hold Time: 56 months
Project Level IRR: 27.8%
Project Level EM: 2.68x

Moss Pointe represents URS’ careful top-down market analysis. After following this growing market for 3 years, URS was presented this deal pre-market deal through a strong broker relationship.

The former owners had done all of the heavy lifting, putting $6M into the property; all major mechanicals, and complete unit renovations with little to no deferred maintenance. High in-place occupancy will allow for immediate cash flow and the quick execution of amenity and grounds upgrades. The asset will be best-in-class through its operational and physical improvements.

Moss Pointe provided our investors with consistent cash flow and value creation since inception. Our team was able to execute our value add program and strategic improvements ahead of schedule allowing us to achieve returns well above proforma in less than 5 years. Moss Pointe’s sale price was $37,300,000, and provided URS’ investors a Project Level IRR of 27.8% and an EM of 2.68x.