Terrace Pointe - Exterior 2

2315 Mc Fadden, Jackson, MS,
144 Units

Wells Fargo Bank lent the borrower $2,700,000 in July 2005. Strategic Holdings purchased the note for $1,387,000 in November of 2013. Strategic Holdings obtained title to the property via a Deed in Lieu of Foreclosure in January 2014. Strategic Holdings invested approximately $1,600,000 refurbishing the property and in 2016 the property appraised for $4,720,000.


Appraised Value: $4,800,000
Acquisition Price: -$1,387,000
Costs: -$1,780,600
Estimated Profit: $1,632,400