Anthony Property Group executed an adaptive re-use project for student housing in the Midtown area for $4.5mm in equity. The property was converted from a former hospital to student housing with a restaurant and office space. Seven years after the initial demolition and rehab, Anthony Property Group has been able to more than double investor equity. In 2014, the property was sold to Pearce Education Properties for$28mm. APG retained $2.5mm of extra land adjacent to the property, which was sold in 2017 for $2.8mm after four years of ownership (original cost: $900k).
Aug 20
100 Midtown
