JACKSONVILLE FL
108 Units
Purchase Price: $3,500,000
Renovation: $600,000
Financing: $2,808,000
Equity: $1,650,000

SOLD $5,200,000

After extensive research on multiple markets in Florida, URS felt Jacksonville had strong momentum coming out of the last recession. URS was presented with this opportunity after it fell out of contract.

Property had significant deferred maintenance and economic occupancy was in the mid 80% range due to severe mismanagement.

URS utilized private capital and a bridge to acquire the asset, allowing them the necessary renovation dollars. URS was able to stabilize occupancy at over 90% within 12 months. This was the firm’s first bridge to permanent execution allowing investors to realize the benefits of a refinance and return of capital.