Bay Meadows, 122 Units

The property was acquired in 2003, and underwent significant rehab including all new roofs, Hardie® siding, paint, landscaping and more.  Interior upgrades such as new appliances, lighting and plumbing fixtures and faux wood flooring are being added in an effort to position the asset for long-term cash flow. The property was refinanced in 2013 and continues to exceed expectations.  The current loan is fully amortizing and allows for an annual principal payment of up to 7% of the loan balance, the partnership’s goal is to own the asset free and clear by 2024.