Investor returns
24% IRR · 2.3x equity multiple · ~3.8 year hold · sold December 2022.
Past performance is not indicative of future results. Investor returns shown are for this realized investment only and do not guarantee returns on any other or future investment.
The asset
Adaptive reuse in a prime downtown Santa Barbara location. We converted office to 23 multifamily units and added much needed housing in a dense multi-use zone.
Business plan
Convert underused office to multifamily through adaptive reuse. Create housing in a dense downtown location, then exit after the reposition.
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