Hopewell

Hopewell Apartments, Hopewell, VA
130 Unit Apartment Complex

In August of 2001, KeyBank lent the borrower $4,312,000. In April of 2014 Strategic Holdings purchased the note for $1,470,000. In June 2014, Strategic Holdings completed the foreclosure on the property. Strategic Holdings sold the complex on June 17, 2015 for $2,031,000.

DETAILS

Sale Price: $2,031,000
Acquisition Price: -$1,470,000
Costs: -$750,000
Estimated Profit: -$189,000

ADDITIONAL DETAILS