CASE STUDY
3300 Tamarac:
Heavy Renovation Value-Add
LOCATION: DENVER
UNITS: 404
ACQUIRED: 2Q14
Renovations and Rebranding
3300 Tamarac was purchased off-market and closed quickly with opportunistic pricing at a going-in 7.0% cap rate. TruAmerica rebranded the property with new signage and a new name – formerly known as Tamarac Village. Interior renovations include faux-wood flooring, countertops, kitchen appliances, and fixtures. TruAmerica overhauled all of the resident common areas, including fitness center, leasing office, pool area and resident lounge. After 20 months of ownership, TruAmerica sold the 3300 Tamarac property in 4Q15, during which time NOI grew over 13.7%. The asset appreciated 35% in value during the abbreviated hold period.
UPDATED SIGNAGE, HIGHLIGHTING NEW BRANDING
CASE STUDY
3300 Tamarac:
Heavy Renovation Value-Add
LOCATION: DENVER
UNITS: 404
ACQUIRED: 2Q14
Renovations and Rebranding
3300 Tamarac was purchased off-market and closed quickly with opportunistic pricing at a going-in 7.0% cap rate. TruAmerica rebranded the property with new signage and a new name – formerly known as Tamarac Village. Interior renovations include faux-wood flooring, countertops, kitchen appliances, and fixtures. TruAmerica overhauled all of the resident common areas, including fitness center, leasing office, pool area and resident lounge. After 20 months of ownership, TruAmerica sold the 3300 Tamarac property in 4Q15, during which time NOI grew over 13.7%. The asset appreciated 35% in value during the abbreviated hold period.
UPDATED BUILDING EXTERIORS