Portfolio

Acquired in January 2025, Eastwood Apartments is a 15-unit property located just off US Highway 10 in the quiet town of Motley, MN—only 30 minutes from Brainerd. The property consists of a well-balanced unit mix, including one-, two-, and three-bedroom apartments, catering to both seniors and the local workforce. The building was already in turnkey condition, but a significant value-add opportunity was identified at acquisition: although each unit was built with individual electric meter bases, the owner had been covering the cost of all tenant electricity. We are in the process of installing individual meters to transfer electric expenses to tenants, reducing operating costs and boosting NOI. All 15 units are now fully occupied, including one recently leased-up unit. The property includes 15 garages currently bundled into rents, which presents future upside by separating and monetizing garage usage. Eastwood Apartments represents a strong long-term hold with minimal maintenance needs and immediate operational improvements already underway.