Overview

Rivers Edge was acquired in 2016 as an off-market transaction from a well known, professionally managed firm. Though the property was professionally managed, Arrowpoint’s team was able to identify several areas where value could be added. Renovations were made to approximately 25% of all units as well as upgrades to the exterior façade, landscaping, parking lot and amenity space. Management was able to turn over a mostly sub-par resident base and increase rents and revenues. Arrowpoint’s principals created additional value by obtaining city approval to convert a portion of the commercial space to residential use. As a result, Arrowpoint exceeded its seven-year projections in less than thirty-six months, creating a very attractive return on exit.