Portfolio
Current Portfolio
Yellow location indicators are case studies;
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Case Study One


Carol Oaks
Fort Worth, Texas
Carol Oaks was acquired as a class C property in a fast gentrifying location. Within two years PRC executed the business plan of rebranding and partially rehabbing the asset to prove its viability as a class B property, and sold it accordingly.
- Hold Period: 2015 – 2017
- Vintage: 1974
- Units: 224
- Purchase Price: $9mm
- Sale Price: $14.1mm
- IRR: 47%
- CoC: 10%
- Multiple: 2.09x
Case Study Two



Landmark at Creekside
Atlanta, Georgia
This asset comprised two adjacent communities that had operated as one. PRC split the two communities, rebranded and partially rehabbed them to different standards, added amenities to better compete with market peers, and sold each community separately at different times to take advantage of higher valuations given by smaller buyers.
- Hold Period: 2017 – 2019
- Vintage: 2005
- Units: 492
- Purchase Price: $61mm
- Sale Price: $73.6mm
- IRR: 24%
- CoC: 8.8%
- Multiple: 1.45x
Case Study Three


Bonita Fountains
Orlando, Florida
We acquired Bonita Fountains as an under-managed, class B- asset in a strong location. PRC rebranded and upgraded the property into a class B+ asset, generating enough value to refinance at an implied 2.15x multiple.
The capital event enabled the investment group to extract 37% of the original equity, and now the asset generates a double-digit cash yield on the outstanding equity balance.
- Hold Period: 2015 – Present
- Vintage: 1987
- Units: 560
- Purchase Price: $42.7mm
- Refinance Value: $61.6mm
- Implied IRR: 32%
- Implied CoC: 14.5%
- Implied Multiple: 2.15x