Collins Park - Exterior

4215 Wales Court, N. Charleston, SC
104 Units

LaSalle Bank lent the borrower $4,500,000 in September of 2003.  Strategic Holdings bought the non performing note for $3,070,000 in October of 2013.  Strategic completed the foreclosure and acquired title to the property in April of 2014.  After completing the necessary renovations, the property appraised for $8,700,000 in 2017.

DETAILS

Appraised Value: $10,800,000
Acquisition Price: -$3,070,000
Costs: -$1,722,200
Estimated Profit: $6,007,800

ADDITIONAL DETAILS