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The Griffin at Petworth Metro
49-unit A Class Property
- Construction – Luxury class-A condo level construction meeting Washington, DC green building standards.
- Debt – HUD loan assumption – 3.20% interest rate, 35 year fully amortizing term.
- Value – $7.8 million intrinsic equity immediately upon acquisition based on each unit’s higher value as a condo compared to present rental apartment. ($550k per unit vs. acquisition price per unit $390k)
Veritas at East Cobb
LP 192-unit B Class Property
- Opportunity to capture additional income with under-market rents.
- Pool, BBQ grills with picnic tables, storage closets, state of the art package center, business center and clubhouse.