Revere acquired Villa Capri in August 2003 and renovated the property with approximately $6,000 per unit in interior unit upgrades and exterior improvements. According to Revere partner David Jankowski, the exterior upgrades included new landscaping, new site signage and exterior paint, and the construction of 12 tenant storage lockers. Following the renovations, Revere raised the average rents from $650 when it acquired the property to $920 per month at the time of sale. Revere manages partnerships of individual and institutional investors to acquire value-added multifamily properties in Southern California.
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