ABOUT USPROPERTIESFOR LEASESTRATEGYCONTACT US

Properties

Ravens Crest
RAVENS CREST
MANASSAS , VA


 
Description

Investment Date: June 1992

Investment Cost: $8.2 Million

Improvement Cost: N/A

Sale Price: $15.5 Million

Sale Date: July 1999

IRR: 28.9%
A 224 unit, garden-style apartment complex located in Manassas, Virginia, approximately 30 miles from Washington, D.C. The property was built in 1988, as part of a 444 unit community.

Strategy

Ravens Crest was bought at 50% of replacement cost. After six years of operation, the entire 444 unit community was sold to maximize value.

« BACK TO LISTING




Charter Capital Management, Inc.