At the end of 2012, JK Equities, LLC acquired two distressed apartment complexes totaling 286 units in Hampton Roads, Virginia; Timbers Townhomes in Norfolk and Carybrook Townhomes in Hampton. The two properties were acquired by assuming their current debt on a modified basis.

In March 2016, Carybrook was sold returning over 45% on our initial investment. In addition, an excess land parcel was carved out of the property and sold separately, as a development site, further enhancing overall returns.