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Granite Realty Partners

Village at Town Center

Davenport, FL This property was a severely “broken” condominium project with owner-occupants in only 3 units out of 240.  We were able to purchase over 80% of the units at favorable prices and took over the condominium board and instituted a property-wide common area upgrade. We also renovated 48 units and achieved a 15%+ return on renovation costs. The property was sold in June 2017 and generated an IRR of 27% to investors.