Revitate Cherry Tree recently released an update on its portfolio performance through 2022 Q3.
- 745 units acquired to date across five assets in Kansas, Missouri, and Indiana
- Total portfolio net operating income is exceeding underwritten pro-forma by 10.4%
- Current occupancy is 94.4% with very strong renewal rates on existing leases at 70.5%
- Lease-over-lease growth averaging 9.9% and renewals generating a 5.2% growth from prior leases
- Investor distributions are expected to begin as early as Q1 of 2023
Revitate Cherry Tree Multifamily Fund I, L.P. will close on December 31, 2022.
Revitate Cherry Tree Multifamily Fund I, LP
Revitate Cherry Tree Multifamily Fund I, LP (the “Fund”) seeks to invest in multifamily opportunities which will generate a strong risk-adjusted return over a 5 - 7 year hold period. The primary focus of the Fund is Midwest Workforce Housing and Sunbelt Value-Add Multifamily with a target purchase price range of $10 to $40+ million.
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