Turning Around The Lofts: Inside a $29M Real Estate Transformation | Durable Value Ep 80

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In this episode of Durable Value, we dive deep into a real-world case study: the acquisition, turnaround, and rebranding of The Lofts at Stadium Square in Fresno. Join us as we break down the sourcing, negotiation, due diligence, and execution that turned a struggling student housing property into a thriving multifamily asset. Learn about the challenges, strategies, and lessons from one of our most successful investments to date.

Timestamps:

00:00 – Introduction

00:22 – The Lofts in Fresno: Background & Rebranding

00:47 – Sourcing the Deal & Initial Challenges

01:35 – Appraisal, Pricing, and Negotiation

02:01 – Negative Cash Flow & Seller Motivation

02:46 – Our Approach to Buying & Negotiating

03:12 – Due Diligence: Process & Findings

04:34 – Repairs, Discounts, and Final Purchase Price

05:00 – Rebranding and Property Upgrades

05:25 – Creating a Resort-Style Experience

05:44 – Due Diligence: Uncovering Value

06:28 – Insurance Hurdles & Solutions

07:03 – Execution: Building the Right Team

08:09 – Turning Around Occupancy & Performance

09:04 – The Importance of In-House Management

09:40 – Stabilizing and Repositioning the Asset

09:59 – Value Creation & Broker Opinion

10:27 – Results: Cash Flow, Upside, and Lessons Learned

10:56 – Closing Thoughts