Alexandria, Virginia
Highpointe
182-unit Alexandria conversion
Explore the projectRequest your free feasibility study- Location
- Alexandria, Virginia
- Units
- 182
- Year converted
- 1996
The challenge
Very high investor population prior to the conversion.
The co-op owned many units due to shareholder defaults, creating severe hardship for the remaining shareholders.
Limited financing alternatives for Co-op owners resulted in low market prices and slow sales.
The outcome
Owner Occupant ratio increased immediately post-conversion to condominium and has been steadily climbing.
The Hutton Group arranged bridge loan to fund conversion of these units to condos which were ultimately sold at huge profit for the complex.
Owners now able to secure competitive financing on higher valued condos with excellent market absorption.
Historical project figures
Conversion completed in 1996.
These historical figures describe this project. They are not current appraisals or a prediction for another building.
- Funding arranged
- $12,000,000
- Recorded co-op value per unit
- $110,000
- Recorded condominium value per unit
- $210,000
In Alexandria
Highpointe5911 Edsall Rd, Alexandria, VA 22304Open the building in Google Maps (opens a new tab)
What would conversion mean for your building?
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