Cityside Huntington Metro rooftop sundeck and lounge
A man and woman on a sofa enjoying coffee
A man and woman at a desk looking at a laptop screen

Brinkley Manor

Donaldson acquired Brinkley Manor, completing a $1.9mm renovation that entailed converting the aging and highly inefficient central plant from a two-pipe central heating and cooling system to all new high-efficiency, individually metered heat pumps including full electrical heavy-up, and new electric panels and meters.

AFTER: Interior
$119,444
Purchase Price Per Unit
$213,889
Sale Price Per Unit
AFTER: Exterior Signage
AFTER: Interior
AFTER: Exterior Signage
AFTER: Kitchen
$119,444
Purchase Price Per Unit
$213,889
Sale Price Per Unit

43.10% Internal Rate of Return

Additional improvements included curb appeal upgrades including new signage, extensive re-landscaping; and infrastructure improvements including building fa├žade and entryway upgrades, renovated stairwells and hallways, lighting upgrades, and new roofs and plumbing line enhancements, new low flow toilets and flow controls on all faucets, along with interior renovations to 10% of the apartments.

As a result, the utility expense decreased over 74% and NOI increased an annual average of 60.9% over a 3-year period.

Property Constructed1972
Purchase Price Per Unit119,444
Renovation Cost Per Unit15,169
Sale Price Per Unit213,889
Internal Rate of Return43.10%
Average Annual NOI Increase60.09%