Equity Multiple Return
Property Type: Multifamily
Sold in Q1 of 2016, this property was part of an investment with Evergreen Devco. Outlook Littleton, formerly known as The Meadows at Platte Valley, is a 250-unit Class A, garden apartment community with a 3-pad retail component. The property was built at the intersection of Mineral Avenue and Platte Canyon Road, near Highway 85 and C-470 and is located near light rail, parks, and shopping.
The property was sold while still in lease-up at a projected stabilized cap rate of 4.85%. FCA’s investment period was approximately two years; FCA’s investment in this deal produced an equity multiple in excess of 4.50x and an IRR of approximately 120%.