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