Saturday, May 9, 2015

IEC: Un-Loved Deals Do Exist In Great Locations


Citra Apartments, 700 South 6th Street, Burbank, CA
Burbank, CA – In a market where value-add commercial real estate is increasingly difficult for investors to find, Interstate Equities Corporation (IEC) has proven that “un-loved” deals are still out there.

The firm has just acquired an off-market, 34-unit multifamily property in a walkable distance from downtown Burbank, California - an investment feat in today’s market, according to Marshall Boyd, President of IEC.

“This property is the type of ‘diamond in the rough’ that we target,” says Boyd.  “Built in 1958, the community has never been renovated, making it perfectly poised for the type of transformation that IEC is known for.”


Peter Casey
Boyd notes that the asset, which is situated on 0.4 acres approximately a mile east of Burbank’s downtown, meets each of IEC’s stringent acquisition requirements - a strategic approach that has proven fruitful for the firm’s institutional investors throughout the U.S.
Our niche is well located, scrappy deals,” says IEC Director Peter Casey. 

  “By pinpointing our focus and acquiring multifamily properties in Southern California and the Bay Area that are significantly undermanaged, we are able to deliver extremely attractive yields and risk adjusted returns to our investors.”

IEC, an institutional fund manager, invests in properties on behalf of endowments, family offices and pension funds.  

The firm has been active in investment management for more than three and a half decades.
The Burbank asset, “Citra Apartments,” will undergo a series of improvements that will enable IEC to grow rental rates by approximately $500 per unit in just three to six months, according to Boyd.

More information is available at www.interstateequities.com.

For a complete copy of the company’s news release, please contact:

Jenn Quader or Lexi Astfalk
Brower, Miller & Cole
(949) 955-7940

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