Cabot Crossing

Project Details

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.