VIRGINIA BEACH, VA (October 15, 2025) – Croatan Investments (“Croatan”), a rental housing investment manager serving private wealth and institutional capital, is pleased to announce the sale of Villas at Cordova, a 256-unit garden-style apartment community in Memphis, TN.
Acquired in 2020, Croatan partnered with The Kushner Companies (“Kushner”) to acquire the property through a preferred equity investment. By identifying relative value in the Memphis real estate market and applying disciplined oversight, Croatan and Kushner successfully positioned Villas at Cordova for a profitable exit. This transaction expands Croatan’s track record in Tennessee and underscores our ability to deliver strong investor outcomes in multifamily real estate.
Delivering quality results for our investors through disciplined oversight and strategic enhancement
The Croatan Outlook
“The successful sale of Villas at Cordova highlights Croatan’s commitment to delivering quality results for our investors through disciplined oversight and strategic enhancement,” said Paul Van, Chief Executive and Investment Officer at Croatan Investments. “Our team’s execution of a comprehensive value-add strategy improved the resident experience and demonstrated our ability to generate strong outcomes in dynamic markets.”
Value-Add Execution
During the holding period, Croatan and Kushner implemented a comprehensive value-add strategy designed to elevate the property’s appeal and performance. Improvements included new signage and security systems, tree trimming and landscape enhancements, pool resurfacing and asphalt repairs. Additionally, washer and dryer installations and full unit upgrades were completed in line with the original business plan, along with the installation of a property-wide camera system to further strengthen security.
Building on this momentum, Croatan looks forward to continuing to identify value-add multifamily investment opportunities and deliver compelling outcomes for investors throughout the remainder of 2025 and beyond.
