Port Richmond Subdivision
Asset: 26 lot, fully approved townhouse subdivision
Property Type: Residential
Location: Port Richmond section of Philadelphia, PA
Acquired: July 2007
Status: Unrealized
Business Plan: Obtained use variance in a G-2 zoning
district and full approvals to construct 26 townhomes.
Sell to a builder/developer.
Projected Return: 106% IRR (18 month hold time)
Projected Cash Multiple: 1.60x