Case Study:

Academy Lane

Davis, California

The strategy for this investment was to take advantage of a previously under-managed asset in a strengthening student market

Year built
1959
Total units
157
Class
B
Renovation
$741,143

Opportunity

Student market was surging based on growing college enrollment and limited apartment stock additions.

Property was purchased from a long-term owner focused on filling vacancies early in the student leasing cycle with less emphasis on rent rates.

Units located on train tracks and experiencing significant sound transfer.

Results

Improved renter experience

Property made significant progress in reversing negative online reviews, achieving a 92% recommended score on apartmentratings.com as well as a four-star rating on yelp.com.

Significantly higher rent

Next-level unit renovations commanded significantly higher rent and allowed prospective buyers to assume an enhanced level of renovation could be successfully deployed across the property.

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Stoneridge Apartments

Norman, Oklahoma

Virtú’s strategy was to modify the extended stay hotel use to once again be appealing as a multifamily asset as well as complete a lease up of the asset.