Gross Internal Rate of Return (IRR): 51.1%
The Mayfair was an exceptional 197-unit multifamily complex in Virginia Beach, Virginia.
In just over two and a half years of ownership, Cohen Investment Group implemented a select value-add capital expenditure program to improve interior and exterior facets of the property. Mayfair Apartments boasted consistently strong occupancy, and CIG was able to considerably improve NOI through rent increases, both organically and via renovated units.
Cohen Investment Group acquired this portfolio on September 17, 2019 and sold it on May 5, 2022.
Please give us a call or send us a message if you have any questions or would like to learn more about investment opportunities at CIG.