PPC Anaheim Apartments LLC made a $14.2MM equity investment in this wholly owned acquisition.

		Opportunity to acquire a significant, underperforming urban infill North Orange County multifamily asset.
		The strategy is to change from management of income to manage of value from the previous owner while establishing a benchmark asset repositioning plan.

		Madison Park (formerly Grand Resort) will be acquired for $100,000,000 or $130,208 per unit.
		Additional improvements will entail $11.9m of capital expenditures. Said expenditures will be incurred to correct deferred maintenance items ($3.4M / $4,400 per unit) and to substantially improve the competitive positioning of the property through a variety of aesthetic and amenity upgrades ($8.5M / $11,000 per unit).