Investors Management Group, Inc. (“IMG”) is pleased to announce the acquisition of Caldera at Sunnybrook (formally Lawnfield Gardens), an exceptional multifamily property located 10 miles from Portland’s Central Business District.
PER UNIT: $140,800
PER SF: $159
YEAR BUILT: 1977, 1980, 1991 (multiple phases)
EQUITY PLACED: $8,325,000
ACQUIRED: November 1, 2017
IMG and its investor group purchased Caldera at Sunnybrook (formerly known as Lawnfield Gardens) for $19,150,000 as part of its Syndication Platform and will execute a $13,000/unit value-add strategy to capitalize on a dynamic multifamily market.
“Caldera at Sunnybrook is located near major employment hubs and upper-end retail centers. The property is poised for a cosmetic renovation and upgraded amenity package that will meet the demands of today’s renter. Once executed, our renovations plan will enhance the experience for those residents seeking an urban luxury lifestyle at an affordable price.” -Neil Schimmel, CEO