Case Studies:
The following case study illustrates the types of properties we target and our strategic approach to value creation.
Closed March 10, 2025
Westmont Townhomes is a 27-unit multifamily community located in the rapidly growing Ogden–Clearfield metro of Northern Utah. Built in 1982 and never fully renovated, the property offered a strong value-add opportunity to reposition from a C+ to a solid B-class asset. Conveniently situated near major employers such as Hill Air Force Base and the Freeport Center, and only two miles from the new Syracuse LDS Temple, Westmont provides spacious 2- and 3-bedroom townhomes with private patios and covered parking—an uncommon amenity mix for the area.
Acquired for $6.17 million with a $900,000 renovation budget, the business plan centers on exterior upgrades—roof replacements, new fencing, and enhanced amenities such as a dog park and playground—alongside interior modernizations including LVP flooring, updated kitchens, and lighting. Planned completion of renovations within 12–18 months and either refinance for long-term cash flow or sell within three to five years.
Investors benefit from preferred returns and profit splits tailored by share class, with projected IRRs ranging from 16.5% to 19.75% and equity multiples up to 2.09x over a five-year hold. Positioned directly in Utah’s high-growth western corridor, this project exemplifies a strategic “outside-in” value-add execution designed to maximize both community appeal and investor performance.