Built in 1962, the complex is said to be about 75% occupied, arelatively low number in this tight multifamily market. That'sespecially a problem given the fact that the property is locatedadjacent to a neighborhood of upper class homes.
To correct that, the new owner will do a rehab. "One of ourprimary objectives will be to restore its luster," according toBrian Ricklin, SRC's director of asset management. "We will addressboth its physical appearance and its mechanical systems." Heprojects full occupancy within 18-24 months.
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