Carybrook Townhomes

JK Equities, LLC acquired two distressed apartment complexes in Hampton Roads, Virginia; Timber Townhomes in Norfolk and Carybrook Townhomes in Hampton in 2012. The two properties were acquired by assuming their current debt on a modified basis. Carybrook Townhomes is a residential development of 286 units.  Through property improvements and selling excess land, Carybrook proved to be a successful project.  The deal underscored the strength of JK Equities’ investment strategy in unlocking value through opportunistic acquisitions and creative repositioning. 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.