Palmetto Ridge

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Projected IRR

67.5%

Projected Hold

3 Years

Year Acquired

2025

With one of the largest projected IRRs in our Firm's portfolio, we acquired this 2008-build LIHTC community directly from the original developer at $34k/unit.  With rents significantly below the area LIHTC limits (~$500 compared to ~$900), the business plan involves renovating the complex to push average rents up to allowable levels. With granite countertops, stainless steel appliances, new luxury vinyl flooring, and new fixtures throughout - we are confident that these units will become among the nicest in the area.

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