Cabot Crossing

Cabot Crossing

  • Taurus acquired the 252-unit multifamily property in June 2013.
  • The property was acquired for $20,250,000, representing a price of $80,357 per unit.
  • The investment thesis was to refresh and update the property through targeted capital upgrades.
  • The upgrades centered on the common areas, landscaping, and interior unit renovations with a hands-on management team.
  • From 2013 through 2017, the Partnership invested over $2.4 million in a comprehensive capital improvement program.
  • This program focused on upgrades to the residential buildings, common areas, and amenities, as well as in-unit renovations.
  • Since acquisition, the Partnership used an active management approach and executed the capital improvement program successfully.
  • As a result, the Partnership increased the project’s average in-place rents by 46%, resulting in a 69% increase in NOI.
Project Details
  • Location:US
  • Type:Multifamily
  • Date:2013
  • Status:Sold
  • Size:252 Units
  • Acquisition price:$20,250,000
  • Sale price:$42,400,000
  • Project IRR:47.58%