Marina Villas

Number Of Units: 48 State: Florida

Purchase Date: February 2016

Sold Date: Still Operating

Marina Villas is a B class property, located in a B class area in Pensacola, FL. We purchased this property from a seller who required cash to satisfy other obligations and was motivated to sell.  The property was in excellent shape at the time of purchase. Since purchase, we have begun a unit upgrade program, gaining meaningful rent increases with each upgrade.  We continue to pay quarterly cash distributions and will operate the property for cash flows until we ultimately sell the property to realize capital appreciation.