5550 Balboa Arms Dr. San Diego, CA 92117

Overview:

• Acquired in Spring 2016
• 94-unit apartment community located in San Diego’s desirable Clairemont submarket
• Prior ownership completed extensive renovations; Meter finalized repositioning strategy
• Completed final 7 unit upgrades and enhanced common areas
• Added one additional unit to increase density and revenue
• Positioned for long-term hold based on strong location and San Diego market fundamentals

Financials:

• Successfully refinanced in 2017
• Returned approximately 90% of original investor equity
• Long-term hold focused on continued appreciation and stable cash flow growth