The Orient, Memphis, TN

Acquired On Market Vacant Class C Multi-Family Gut Renovation

Acquired on-market as part of a 108-unit portfolio, this asset underwent a comprehensive renovation following secured financing. The buildings were taken down to the studs and entirely rebuilt, transforming the property into a modern, clean and safe residential community. Renovations were completed within eight months, and every unit was pre-leased, prior to the COVID-19 lockdowns. Twelve months after stabilization, the property was refinanced with long-term fixed-rate debt, positioning it well for the long term. Today, it continues to be held as a cash flow–producing asset, delivering stable returns and contributing to the overall performance of the portfolio.

Location

Memphis, TN

Product Type

Multi-Family

Services

Acquisition

Development

Construction Management

Refinance

Asset Management

Building Size

38 Units part of 108 Unit Portfolio