10 Federal Celebrates Successful $68.5M Exit from Apartment Sale
Celebrating a Remarkable Investment Success
10 Federal has achieved a significant milestone with the recent sale of Mountaineer Village Apartments, located in Boone. This student housing community has served students well, showcasing the firm's capabilities in managing real estate assets. The community has been a vital part of the company's portfolio, leading to a successful exit that underlines their strategic vision.
Financial Performance and Growth Metrics
Initially acquired at a price point of $32.5 million, the Mountaineer Village Apartments were sold for an impressive $68.5 million after nearly a decade of ownership. Over this period, the project yielded exceptional financial returns, vividly illustrating the effectiveness of 10 Federal's investment strategy.
Impressive Investor Returns
Investors can take pride in an impressive net internal rate of return (IRR) of 21.1%, alongside an equity multiple of 4.42x. The overall performance of the project achieved a gross IRR of 25.60% with a remarkable 6.03x equity multiple. Such results not only validate the acquisition strategy but also highlight the firm's adept management and growth approach.
Team Effort and Commitment
Cliff Minsley, Co-Founder of 10 Federal, expressed pride in the team's efforts throughout the investment lifecycle. His statement emphasized the unwavering commitment of their staff to operational excellence and effective value creation. This achievement stands as a testament to their collective dedication towards achieving outstanding outcomes for stakeholders.
A Collaborative Approach to Management
This achievement also reflects the effective collaboration between the onsite and offsite property management teams. Their dedication to maintaining high standards played a crucial role in maximizing performance throughout the ownership period. Bob's collaboration of expertise along with advanced data science strategies proves vital for future successes.
Data-Driven Investment Strategies
The innovative use of technology, particularly data analytics, played a critical role in this deal. The integration of data science to inform investment strategy and acquisition decisions allows 10 Federal to navigate the competitive landscape effectively. By employing this data-driven approach, the firm consistently identifies lucrative opportunities while maintaining rigorous operational standards.
Future Outlook for 10 Federal
The successful sale of Mountaineer Village Apartments highlights the importance of combining traditional real estate practices with technological advancements. As 10 Federal finds itself at the forefront of this evolving industry, their commitment to disciplined management and innovative strategies positions them well for future ventures.
About 10 Federal
10 Federal stands as a leading name in commercial real estate investment, concentrating on self-storage and multifamily properties. With over 100 assets across numerous states, the firm is recognized for its prowess in utilizing data technology alongside disciplined operations to achieve remarkable returns. Recently, it has been honored as a Top Performing Real Estate Fund, demonstrating its exceptional capabilities in the sector.
Frequently Asked Questions
What was the sale price of Mountaineer Village Apartments?
The Mountaineer Village Apartments were sold for $68.5 million.
How long did 10 Federal hold the Mountaineer Village property?
10 Federal held the property for nearly nine and a half years.
What was the internal rate of return for investors?
Investors realized a net IRR of 21.1% on this investment.
What role did technology play in this sale?
Data-driven technology supported acquisition strategies and informed investment decisions, enhancing overall performance.
What recognition has 10 Federal achieved recently?
10 Federal has been recognized as a Top Performing Real Estate Fund and ranked among the fastest-growing companies.
About The Author
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