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LMDG's Fund II has entered into a contract to acquire another property. It is located in prime Alamitos Beach within walking distance of Retro Row, Bixby Park, and the beach and is an 11 unit value-add apartment building. This project is also located within walking distance of our existing project at 315 Cherry creating tremendous synergies for renovation and management of the two properties.
LMDG will improve all of the apartments and increase rents by 70% - 90% over the next 12 months as tenants vacate the property and units are remodeled. We anticipate a 40-50% increase in the value of the asset upon stabilization.
Fund II is still open for investment. For more information, download our flyer which outlines the strategy of the fund, track record, fund structure, and projected returns.
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