Forest Ridge
Forest Ridge Apartments is a Class B+ apartment community located in Bloomington, Indiana and built in three phases between 2005 and 2008.
Property Key Features
Market:
Bloomington, IN
Number of Units
114
Date Acquired:
12/14/2021
Forest Ridge Apartments is a 114-unit, Class B+ apartment community located in Bloomington, Indiana and built in three phases between 2005 and 2008.
Gray Capital’s strategy with the property involves narrowing the substantial gap between rents at Forest Ridge and other comparable properties and undertaking a light value-add renovation that includes a nature fit-trail that utilizes the substantial wooded area on the property that is not otherwise developable.
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Forest Ridge
Forest Ridge Apartments is a Class B+ apartment community located in Bloomington, Indiana and built in three phases between 2005 and 2008.
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Full-Cycle Project
Net IRR: 38%
Equity Multiple: 3.44x
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Gray capital invests alongside our partners, joining sophisticated family offices and individual investors looking to take advantage of the unique benefits of multifamily real estate.
