Amberwood Hills is a garden-style apartment community located in the Gainesville-Lake City, FL Combined Statistical Area. Gainesville ranked as a top 20 MSA for growth by Crescent Sky’s proprietary model at the time of acquisition. The property was mismanaged and in need of improvements. Crescent sky has planned a major renovation of the entire community.
CSC has partnered with a local property manager to actively manage the property. Crescent Sky has enacted a significant value add program across the property. Full renovations include new kitchen appliances, refurbished cabinets and countertops, new lighting and fixtures, full paint, new flooring, new bathrooms, and refinished tubs and showers.
Location: Lake City, FL
Business Plan: Value add to bring rents to market rates
Investment Type: Equity
Property Type: Garden Style Apartments