JFT LLC
7 Acre Site
64 units of 2 Bedroom 2 Bathroom Units
930 sq.ft. per unit
$5,500,000
– land acquisition
– purchased, rezoned and entitled land
– designed project
– secured project financing
– acted as general contractor for the project
– managed facility leasing and startup
– managing partner of facility and operations
Purchased three separate land parcels and combined them to create a 64 unit residential rental apartment complex. Rezoned and entitled property to allow for rental apartments. Designed project, negotiated construction financing, acted as general contractor for the project, completed, on time and within budget. After completion acted as managing partner for the complex. In 2005 refinanced the project with long-term non-recourse financing through Lehman Brothers out of NYC. In January 2006 completed a sale of the complex with a net profit return of 30.7%
