Case Studies
Brinkley Manor
Donaldson acquired Brinkley Manor, completing a $1.9mm renovation that entailed converting the aging and highly inefficient central plant from a two-pipe central heating and cooling system to all new high-efficiency, individually metered heat pumps including full electrical heavy-up, and new electric panels and meters.
Property Constructed | 1972 |
Purchase Price Per Unit | $119,444 |
Renovation Cost Per Unit | $15,169 |
Sale Price Per Unit | $213,889 |
Internal Rate of Return | 43.10% |
Average Annual NOI Increase | 60.09% |
Rolling Brook Village
Donaldson acquired Rolling Brook Village with a business plan of correcting significant deferred maintenance and taking advantage of needed value add upgrades, as well as continuing an interior unit renovation program to generate rent premiums that were competitive in the market.
Property Constructed | 1988/1989 |
Purchase Price Per Unit | $146,858 |
Renovation Cost Per Unit | $3,590 |
Sale Price Per Unit | $189,208 |
Internal Rate of Return | 24.19% |
Andrews Ridge
Donaldson converted the aging and highly inefficient central plant from a two-pipe central heating and cooling system to all new high-efficiency, individually metered heat pumps including full electrical heavy-up and new electric panels and meters.
Property Constructed | 1965 |
Purchase Price Per Unit | $55,733 |
Renovation Cost Per Unit | $30,310 |
Sale Price Per Unit | $120,935 |
Internal Rate of Return | 22.43% |
Average Annual NOI Increase | 57.41% |
Regency Pointe
Donaldson managed a $16.6mm renovation, consisting of curb appeal upgrades including new signage, extensive re-landscaping, amenity enhancements and more.
Property Constructed | 1963 |
Purchase Price Per Unit | $34,307 |
Renovation Cost Per Unit | $27,712 |
Sale Price Per Unit | $93,490 |
Internal Rate of Return | 20.01% |
Average Annual NOI Increase | 138.72% |
Heather Hill
When acquired, Heather Hill was undercapitalized and suffered from deferred maintenance. The property was undermanaged and under-merchandised in the market and was lacking true customer service.
Property Constructed | 1963 |
Purchase Price Per Unit | $83,878 |
Renovation Cost Per Unit | $14,800 |
Sale Price Per Unit | $124,183 |
Internal Rate of Return | 25.28% |
Average Annual NOI Increase | 19.2% |