This Asset Was Recently Sold!
Asset Details
The CalTier Fund invested in The Vue in September 2021 and the property sold just 13 months later in October 2022, our second property to complete a full lifecycle.
Upon acquisition, our real estate partner, Lionel Partners, immediately began adding washer and dryer sets to the Classic Units, helping to increase rents by $240/month for those units – a 22.5% increase!
Within the 13 months, all capital expenditures were completed, including upgrading the individual units, updating the exterior paint, re-striping the parking lot, replacing the roofs, renovating the gym, enhancing the dog park, resurfacing the pool, and improving the BBQ grills. Because of these improvements, in-place rents were increased by 35.9%. This helped The Vue realize an increase in value of $47,500 per unit.
In 13 months, CalTier Fund 1 was able to see a 120.72% return on its initial investment.
