We are excited to announce the successful sale of APS Corning, NY for $3.3 million. This sale highlights our team's ability to drive strong returns through strategic management and capital improvements.
Transaction Overview:
- Acquisition Date: Dec, 2022
- Acquisition Cost: $2,725,000
- Sale Date: Sept, 2024
- Sale Price: $3,300,000
- Hold Period: 21 months
- Project Internal Rate of Return (IRR): 26%
- Project Equity Multiple (EM): 1.5x
During this hold period, including net profit from the sale, we distributed approximately $400,000 to investors. The sale also resulted in a $878,000 return of capital to Patriot Fund IV. This successful exit is a direct result of our value-add strategies.
Operational Improvements:
We invested $120,000 into capital improvements, including modernizing the facility and upgrading security, which attracted higher-quality tenants. Enhanced digital marketing efforts through localized SEO boosted visibility and occupancy rates.
Implementing remote management systems and revenue management software helped optimize income and maximize the property's Net Operating Income (NOI).
This sale underscores our commitment to creating value for our investors through a combination of operational excellence and strategic real estate acquisitions. We look forward to sharing more updates soon.
Next Steps: Interested To Learn More or Invest In Commercial Real Estate?
If you would like to learn more about our Open Funds or invest in Commercial Real Estate please contact our investor relations team by completing the New Investor Form here (it will take less than 2 mins).
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