Spicewood Garden

Overview

Church and Flint are two multifamily properties totaling 56 units, acquired in 2016 for $1,092,900. At the time of purchase, the assets were underperforming due to poor management. Nile Equity Group responded by bringing in a new management team and investing $300,000 in targeted renovations. Within two years, occupancy surged from 30% to over 90%.

Highlights

• 56 units
• Occupancy 30% → 90%+
• $300K renovation
• Sold for $3.65M in 2022