INVESTMENT SUMMARY
Hickory Grove Apartments is a garden-style apartment community consisting of 568 units located in SE Memphis, TN. The property was built between 1987 & 1989 by the Trammel Crow Company. The property was purchased in January of 2020 for $25M with a budget of $13M in renovations. Renovations were completed and the overall business plan was executed by mid-2022 with a refinance after stabilization.
Before & After
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