1250 Central Avenue, Wenatchee, WA 98801

Overview:

• Acquired in 2017
• 112-unit apartment community
• Completed modest exterior renovations to enhance curb appeal and asset positioning
• Renovated 50% of unit interiors to date
• Renovated units achieving rents significantly above original projections
• Overall property rents performing well above underwriting

Financials:

• Successfully refinanced the asset
• Returned approximately 90% of original investor equity
• Long-term hold strategy focused on continued value appreciation and strong cash flow growth