Formerly known as Courtland, the property was upgraded and rebranded as Atrium Court. The property is located in the center of the tech hub surrounded by Google, Facebook and many Fortune 500 companies. The property encompasses 36 units on .59 acres of desirable real estate in Mountain View. Prior owner mis-managed and under maintained the building. Once acquired, the property was enhanced with a new leasing office, curb appeal, improved landscaping, and exterior paint. In-placed rent was increased by over $300 per unit. Atrium was held for two years and sold in July 2013 with XIRR of 32.3% and equity multiple at 1.7x.
Wilson Investment Associates, Individual Private Investors
Pools, Ceiling Fans, Fully Remodeled Units
IRR (Leveraged) 32.29%
IRR (Unleveraged) 8.75%
Equity Multiple 1.70