The Vibe at Gateway – REALIZED INVESTMENT
St. Petersburg, Florida
Class C+, value-add. Improved to B.
Acquired: 2015 | Sold: 2018 with 60% increase over initial IRR underwriting
Purchased in 2015, this 432-unit apartment community underwent a significant renovation to conform to the Lloyd Jones Vibe brand. The entrance was re-oriented to be more visible, and the small clubhouse was turned into an expansive community center with “We Work-type” stations and social entertainment areas throughout.
Lloyd Jones sold the property in 2018. Realized IRR was 34.69%
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