Case Study

Ashford East 88 (Refinance)

Thornton, CO | Acquired 2014 | 1973 Vintage | 322 Units

Original Debt Terms

Floating rate debt at 218 basis points over LIBOR.

Compelling Story

Despite not being the highest bidder, RADCO was awarded the deal due to our proven track record and credibility to close.

Value-Added

$5.2 million capital improvements plan highlighting extensive exterior renovations and amenities upgrades to rebrand and reposition the property in the market.

Refinance Outcome

After a 22-month hold, the refinance allowed RADCO to pay off the existing indenture and closing costs, recapitalize the deal to continue capital improvements, and provide a special distribution to investors of 90.7% on original equity (equaling 109.5% total capital returned to date).