CASE STUDIES 2017-10-06T18:09:20+00:00
Pictured is a renovated unit interior Kitchen and Dining Room at Springhouse Apartments in Newport News, VA.

RENT RETURN  // AUDUBON PARC

The Principals at Croatan Investments acquired The Park (now called Audubon Parc) in Raleigh, NC in 2005 and renovated the clubhouse, building exteriors, pool, and unit interiors. The improvements increased base rent $145 on average. The effectiveness of this type of renovation are a prime example of Croatan Investment’s ability to maximize an asset’s value. Audubon Parc was sold in 2014.

INVESTMENT RETURN // PRESTON TRAILS

The Principals at Croatan Investments closed on Preston Trails in 2011.  This 404-unit property in Chesapeake, Virginia was purchased for $19,270,000 and required $4,700,000 in equity including capital improvements. With improvements plus increased revenues, the property was refinanced into an appraised value of $31,000,000 in 2013, cashing out $8,000,000 in equity and retaining $7,800,000 in the asset.

REALIZED INVESTMENTS

To date, the Principals at Croatan Investments sold seven investments totaling ten properties and 2,983 units. On these investments, the weighted average gross IRR is 26.55%, weighted average hold period is 72 months and the overall gross equity multiple is 2.32x.

WINDSOR LANDING| CHARLOTTE,NC | 256 UNITS

  • Investment type: Equity
  • Bought: 3/30/05
  • Sold: 12/19/07

HIGHLANDS AT OLDE RALEIGH| RALEIGH,NC | 172 UNITS

  • Investment type: Equity
  • Bought: 8/26/04
  • Sold: 12/31/07

AUTUMN RIVER| RALEIGH,NC | 284 UNITS

  • Investment type: Equity
  • Bought: 10/20/09
  • Sold: 4/8/11

FOUR PROPERTY PORTFOLIO| NC & TX | 968 UNITS

  • Investment type: Preferred Equity/Mezzanine
  • Bought: 10/31/11
  • Sold: 5/17/13

AUDUBON PARC | CARY, NC | 180 UNITS

  • Investment type: Equity
  • Bought: 6/27/05
  • Sold: 6/25/14

THE PRESERVE AT WOODS LAKE| GREENVILLE, SC | 232 UNITS

  • Investment type: Equity
  • Bought: 11/30/05
  • Sold: 9/9/14

REAFIELD VILLAGE | CHARLOTTE, NC | 324 UNITS

  • Investment type: Equity
  • Bought: 7/26/06
  • Sold: 10/27/14
GABLES COURT | PEACHTREE CITY, GA | 198 UNITS
  • Investment type: Equity
  • Bought: 6/1/06
  • Sold: 3/18/16

MAGNOLIA AT WHITLOCK | MARIETTE, GA | 152 UNITS

  • Investment type: Equity
  • Bought: 5/29/09
  • Sold: 4/29/16

THE CLARION | DECATUR, GA | 217 UNITS

  • Investment type: Equity
  • Bought: 7/15/09
  • Sold: 4/29/16