In April 2018, JoCo Partners announced the sale of Terrain apartments in Pittsburgh, Pennsylvania for $13.7 million, yielding a 41.7% IRR to our investors. JoCo acquired this 153-unit apartment complex in the December of 2015 for $6.1 million. After purchase, extensive exterior and interior renovation of the entire complex was performed and included:
- New fitness center, leasing office and business center
- New landscaping and Pool area
- Newly installed dog park
- New Paint
- Resurfaced cabinets and countertops
- Upgrades to fixtures, appliances, and bathroom plumbing
- LED Lighting and other safety improvements for residents
JoCo Partners is a vertically integrated real estate investment group with a niche focus on value-add multifamily real estate. JoCo currently has assets in the Texas, South Carolina and Pennsylvania markets, and now seeks expansion throughout the United States. JoCo Partners and its related entities (Ava’s Construction, LLC and Nexus RE, LLC) collaborate with real estate investors to evaluate, acquire, reposition, manage, and create an exit strategy for each property based on its highest value and best use.
JoCo Partners has a track record of positioning acquisitions to secure steady cash flow while maximizing upside potential for disposition. Currently, JoCo Partners oversees the performance on more than 2200 rentable units, over $180 Million in asset value, including office and retail, with the great majority of its focus in multi-family properties.
For more information about our Project Portfolio and becoming an investor in upcoming projects, please contact us at: