Casa Anita


Investment Rationale

  • Good unit mix of large, livable units located near schools, employment centers and transportation.
  • Aesthetically pleasing and structurally sound property, allowing for rehabilitation dollars to be spent where they would bring about the highest economic benefit to operations.
  • High vacancy allowed for more rapid rehabilitation/repositioning and releasing the asset at higher rental rates.
  • Close proximity to sister properties allowed for economies of scale and more effective management.
  • Purchased at a discount to both market and replacement cost by providing seller with quick and flexible closing terms.

Current Status

  • After stabilization and a hold period, Casa Anita Apartments was sold in 2005, in a market rate transaction.