Case Study
Summerstone Apartments
Houston, TX
Multifamily
242 Units
GPI purchased Summerstone Apartments in July 2014. By effective control of operating expenses and rent increase, the net operating income of the property was raised 70%-80% more compared to previous ownership. The cash-on-cash return was over 20%/year during the holding period. After the disposition, the management team successfully completed a 1031 execution and invested the proceeds into a 3-property portfolio. The investors received great returns and deferred the capital gain tax.
| Year Built | 1984 |
| Class | B |
| Purchase Price | $9.21mm |
| Sold Price | $16.7mm |
| Total Return | $9.54mm |
| Holding Period | 3.75 Years |
| Total ROE | 353.25% |
| Average ROE | 94.32% |
With over $760 million in total investments and $197 million in total distributions, GPI continually strives to help our investors achieve long-term financial goals since our founding 14 years ago.