Am headed to Costa Rica for vacation this week, so posting will be light (again). The good news is that we’ve got an interesting ground-up deal in contract and are circling another interesting repositioning play. You knew I couldn’t actually not work for a week, right?
Today, we’re closing on a 4plex that warrants some special attention. It’s in a good neighborhood, it’s ~4700 sq ft, and we’re buying it for $810k, or $172 / sq ft. That’s a great deal in a neighborhood where the cheapest comp I can find in the last six months sold for $300 / sq.
Am heading down to Irvine with Jon to participate in a panel on mid-market acquisitions. So, in lieu of a longer post, here’s a group pic from the Adaptive holiday party last night… we’ve come a long way in three years!
Apologies for the lack of a post yesterday and for the short one today. Jon and I are headed out of town to take a look at a deal we might buy. Will I tell you where we’re going? No. Suffice it to say that, when we see a deal for $100/sq ft in an
Here’s a question that’s been popping up all over the place: Why do developers only build apartments for the rich? The answer, as with most things in our business, is in the math. Imagine you can buy enough land to build 10 units for $1MM, or $100,000 per unit. Let’s say you have two options: