Acquisition of an existing 109-unit apartment community in Alexandria, Virginia.
An opportunity to implement a value-add strategy on an existing apartment community.
The 109-unit garden-style community, is located in Alexandria, Virginia. Insight acquired the property in September of 2018 for $14,200,000.
Insight plans to invest an additional $1,900,000 to engage new property management, re-brand the property and implement a value-add program to the property’s units, exteriors and landscaping. Total Cost are projected to be $16,100,000.
The plan is to own and operate the asset for long-term cash flow. Holly Court will be re-branded and added to Insight's Haven portfolio in early 2019.