Reasons to Target Value-Add Multifamily

Sharkansky: “By converting this property into a modern, high-quality community that would appeal to Millennial renters in this market, we were able to leverage this demand and increase occupancy to 95%, transforming Willow Glen into a strong, cash-flowing asset.”

SAN DIEGO—By acquiring value-add multifamily properties in key western markets, Trion Properties is able to capitalize on the economic growth of the regions while creating revenue, enabling the firm to generate strong, risk-adjusted returns to investors, managing partner Max Sharkansky tells GlobeSt.com. The private-equity real estate firm that specializes in value-add multifamily investments has successfully repositioned and rebranded Willow Glen, a 98-unit apartment community at 3635 College Ave. here, nearly doubling the value of the property within 18 months, accordingly to Sharkansky.

Located in the rapidly growing College Area submarket of San Diego, the property was purchased in June 2015 at an extremely low-cost basis with strong upside potential, presenting an opportunity to drive significant value for the asset through extensive renovations. Trion invested approximately $2.6 million in renovations, including the installation of quartz countertops, stainless-steel appliances and new cabinetry in each of the units. Exterior upgrades included a complete revamping of the façade with new paint, as well as the integration of drought-tolerant landscaping to minimize operating costs and improve the sustainability of the property.