The Company acquired Venture on 52nd Street, a 71-unit multifamily property, through foreclosure for $11,000,000 ($155,000 per unit).

In 2022, the property was valued at $18,250,000. Additionally, the previous owner completed extensive interior and exterior renovations, positioning the asset for strong operational and appreciation performance. At the time of purchase, the property was over 90% occupied.

The Company plans to enhance operational efficiency through proactive property management, stabilize occupancy, raise rents to market rates, and execute a profitable exit within three years at a target sales price of $17,000,000 ($240,000 per unit).