LaBrook Apartments

LaBrook Apartments is an 18 unit apartment complex located in Richmond, Virginia. In 2019, this Project was purchased for approximately $700,000 through a combination of debt financing together with approximately $250,000 from a syndicate of 11 private equity investors for this particular property and currently has a broker opinion valuation of $1,250,000. In order to achieve this increase in value, mini split HVAC units were installed to replace window units, interior units were upgraded, and management efficiencies were implemented to increase rents to market rate. Notwithstanding, investor interests in this project are restricted, illiquid and may not be readily sold now or in the foreseeable future.

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