Beal Fund 2 LP, a Delaware limited partnership, has been formed to invest in workforce multi-family real estate assets in Michigan and Ohio. The fund will focus primarily on moderate-to-low income housing in areas with strong employment in stable fields.
Beal Capital will create value by implementing capital improvements plans, creating operation efficiencies, increasing occupancy, and reducing operational expenses. The portfolio is expected to benefit greatly from economies of scale through aggregation.
THE BROOKLYN - BROOKLYN, MI
This investment includes 20 total units at 207 Water St in Brooklyn, MI. Current ownership has carefully maintained this property inside and out. The Brooklyn is a 30-minute commute from multiple employment centers.
VANDERBILT PLACE - TOLEDO, OH
Vanderbilt Place a 47 unit apartment building in Toledo, OH well located off I475 and near N. Reynold road. The building is a mix of 1 and 2bdrm apartments and has an impressive street presence. It is 3 stories tall, has a coin laundry room and plenty of parking for the residents convenience. The current rents are below market and our strategy will be to implement modest rent increases on lease renewals, and execute value add bring to market rent strategy on apartments that become vacant.