Regular readers will know that we completed and stabilized two deals for Adaptive Realty Fund 1 in September.
I am happy to report (and I expect my investors will be even happier!) that rents on both projects came in materially above what we expected when we began the projects nearly a year ago.
Our third project, another 4plex, is nearing completion now. I don’t want to jinx us, but our asking rents are going to be 21% above where we estimated them to be when we acquired the property back in December.
As is my habit as construction nears conclusion, I have been visiting the project daily to check on the progress.
Here are some pics I snapped… would you believe we’ll be leasing this baby up in a week or so?
