IMG Purchases Raleigh Multifamily for $14.3M

Investors Management Group’s ownership group has purchased Sommerset Place Apartments, a 144-unit property in Raleigh, NC for $14.3M as part of its Syndication Platform. The Company will execute an $8,200/unit value-add strategy to capitalize on a dynamic multifamily market.
  • Equity placed: $6M
  • Investors: 26
  • 1031 Exchanges: 4
  • Acquired: Dec 21, 2017

Investment Highlights

Targeted Returns w/ a 5-Yr Hold
Avg. cash/cash return: 8.25%
Equity Multiple: 1.95x
IRR: 15.86%