top of page

TUSCAN RESERVE APARTMENTS
PALM COAST, FL- 124units

CASE STUDY

Tuscan Reserve Apartments represents the inaugural Development project for Stoneweg US.  Acquired with 16 existing units, 107 "ground up" units were constructed to the apartment complex, which is located in the growing Palm Coast metro located 30 minutes north of Daytona Beach.  Summit Contracting Group led the construction which was completed in less than 12 months allowing for an aggressive lease-up strategy, resulting in full occupancy and stabilization in less than six months after following construction .  The 124-unit community, constructed to Class A caliber with best-in class amenities, was officially listed for sale in early June of 2021 and sold in late August 2021 for an attractive $32.77MM.

RESULTS

COINS.jpg

$2.9MM

PURCHASE
PRICE

Picture3.png

AUGUST 2021

DISPOSITION
DATE

Picture1.png

$14MM

CONSTRUCTION LOAN

Dollar Icon

$32.77MM

DISPOSITION
PRICE

Picture5.png

MARCH 2020

CONSTRUCTION KICKOFF

VALUE.png

150.7%

IRR
 

Picture2.png

JANUARY 2021

 COMPLETION
DATE

Picture15.png

4.07x

GROSS
MULTIPLE

Picture12.jpg

124

UNITS

Picture6.png

18 MONTHS

FULL INVESTMENT CYCLE

bottom of page