Strategy: Pre-Stabilization BTR
Units: 178
Year Built: 2022
Total Capitalization: $54,600,000
Target Hold Period: 36 months
Projected IRR: 20%

Virtuous Living, in Huntsville, AL, is a 178-unit Build-to-Rent (BTR) property by SCH in March of 2022. The property provided SCH an entry into the Huntsville market, below current market value, in the rapidly expanding Huntsville market. SCH was initially under contract o purchase both phases of this property but due to the developers failure to deliver phase 2 only phase 1 was acquired. The property is currently 92% occupied and is performing in line with original projections.