Anatole Apartments

• The Anatole, built in 1986, is a 208 unit garden-style multifamily community located in Daytona Beach, Florida
• The investment was made in April 2021 as part of a sizeable equity recapitalization
• At the time of the recap, renovations on 30% of the units had been completed, but the investment included a targeted value-add capex budget for the remaining units, which provided new countertops, flooring, cabinetry, lighting and upgraded interior paint
• The property was opportunistically sold in July 2022, after a hold period of only 15 months