Press Release, November 14, 2018

CALCAP Closes Sale of Rancho Park Apartments – Las Vegas Nevada

 

For Immediate Release:

CALCAP Advisors, a Pasadena based real estate investment company, is pleased to announce the sale of the 228-unit Rancho Park Apartments in Las Vegas, NV.  CALCAP acquired the REO property from a loan servicer for $9,765,000 ($42,829 per unit/$56 per square foot), in June of 2015.  The LLC was initially capitalized with $4,250,000, and the property was financed with a bridge loan in the amount of $7,610,000, which included $980,000 in a renovation/interest holdback.

The property sold on November 13, 2018 for $20,425,000 ($89,583 per unit/$117 per square foot) to a Utah based investment group.

This represents the 11th sale in CALCAP’s 10 year history.

Deal Highlights

Project Level Returns:

  • Return on Investment – 208.0%
  • Annualized Return – 62.6%
  • Member’s Net Annualized Return – 36.4%

 

For more information please contact Drew Buccino, COO of CALCAP Advisors at 602-419-3381 or e mail investorrelations@calcapadvisors.com for more information.

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