Townhomes of Beverly is a value-add multifamily rental property consisting of 204 townhomes constructed in 1971. The property was acquired in August 2015 for $47.5M and prefunded with a $4.25M capital improvement budget targeting full unit rehabs and comprehensive common area upgrade, including the ground-up construction of a $1.4M Class A clubhouse and amenity package. The property was sold in 2021 for $72.7M.