Fairmont Garden Apartments

Operating Partner was introduced to Zitelman Partners and needed to replace $3,000,000 of equity quickly to close because one of their investors dropped out near closing. They chose Zitelman Partners because of their commitment to close quickly and desire to develop a long term relationship with an additional equity source. Zitelman Partners has done two deals with this Operating Partner and Zitelman Partners and its Investor Partners totaling $5.5 million of equity.

Status:
The property was sold in 2020, resulting in a 23% IRR to investors from distribution and sale proceeds.