23.6% Annual Return for Nine Years
The Crossings Apartments is a 208-unit market-rate apartment community in Eugene, Oregon, that was purchased in 2004 and held for eight years.
The Crossings utilized $3,600,000 in investor acquisition equity, some of which was used for physical improvements and operational reserves. The Crossings delivered a 23.6% per year simple return over nearly nine years, including both cash flow and profit. Even during the recession, the project consistently delivered attractive cash flow to investors, averaging 7.87% cash returns on invested capital throughout the term, distributed monthly. Investors received a net cumulative return of over 160% in addition to the return of their capital. Collectively, ICG returned the $3,600,000 in capital plus $5,780,000 in additional proceeds over the life of the investment.