Episode 55: Rosecroft Sale Recap
Rosecroft Apartments was our 41st acquisition and came off a 1031 exchange from our 13th deal, Proctor Square. Collectively these deals were a 10-year period of investment and management. Over the years we've had some crazy stories come out of these assets and ultimately our operational focus helped us continually grow profitably, create a stable community, and realize an exit at a 4.4% CAP rate. This generated a 39% IRR over the 6-year hold period, with an exit price of $140,000 per unit.
Below you can listen in as Dave and Josh discuss some additional highlights of the deal and what we learned over the 7-year period. A big thank you to our investors and team for making this long-term deal an excellent investment!
Full cash out refi 10/21 locking in 3.49% for 7yrs
Refi video - https://www.youtube.com/watch?...
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Refi
https://www.youtube.com/watch?v=022-GfyWftg
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