NEWS & EVENTS
NEWS & EVENTS
May 2004 – Roman Group participates in and closes the acquisition of a 7-unit apartment building in Silver Lake on Vendome Street. The Roman team negotiated a pure value added deal.
October 2005 – Long before the area’s rise and development to what is now the epicenter of LA coolness, the Roman team identified Silver Lake as an up and coming area of high potential growth and, as such, high potential capital appreciation and risk adjusted returns. The Roman Group team bet on their foresight (which was proven correct) by closing on a shopping center on Sunset Blvd.
May 2010 – Roman Group closes on a 24-unit apartment building in Korea Town Los Angeles. The property on Fedora and 8th housed only 4 tenants. Even worse, the building was being used by a local gang as their headquarters for drug sales and other illicit activities. Roman Group evicted the gang, cleaned up the building, remodeled the property and leased it to new tenants.
October 2010 – Roman Group closes on a 30-unit apartment building in Downtown Los Angeles. Roman Group flips the property while in escrow to achieve an IRR for its investors.
April 2011 – Roman Group closes on a 44-unit apartment building on Rampart and Wilshire in Koreatown Los Angeles. Upon selling the property 4 years later, Roman Group realized a 37% levered IRR.
March 2013 – Roman Group closes on a 19-unit apartment building on Fulcher Street in North Hollywood. Roman Group refinance the property and later returns the majority of the equity invested.
September 2015 – Roman Group closes on a 17-unit apartment building on Pine St. in Altadena, CA. The property had been owned by the same landlord since 1994. Roman Group initiated an extensive renovation and value added process that increased income from approximately $14K per month to approximately $26K per month within only 18 months.
April 2016 – Roman Group closes on an approximately 8,000 square foot strip shopping center in South Los Angeles. Roman identify the gentrification of the local area. We understood how the market is changing on the corner. At the time of purchase only one national credit tenant was at the 4 way intersection two years later all four corners have national credit tenants.
May 2017 – Roman Group closes on an 8-unit apartment building in Boyle Heights. An off market opportunistic acquisition at $143K per door for 2 bedrooms, it was the lowest comp in the market in 2017. Buy out strategy of rent control tenants, renovation with a 21% IRR goal.
December 2017 – Roman Group acquires a 10-unit apartment building in Korea Town Los Angeles. A location driven acquisition- in between gentrifying Korea town to USC just off of Washington Blvd. Seller was determined to sell, Roman picked up the property on a price reduction.
February 2018 – A shopping center development in Escondido, CA. Single tenant Family Dollar development.
September 2018 – On market acquisition of an SRO building who was fully occupied yet structurally absolute. The business plan was adding value via simply adding bathrooms and other amenities in a co-living type community: out of the box structure to drive the IRR to mid 20%.
August 2019 – Roman Group completed the acquisition of a 12 units property in Hancock park. At $4.475mm, the property present a very unique opportunity to add value. The property was a non-rent control 1920’s to be converted from 2+1s to a 4+1s. The property will be operated in a coliving standards under www.LivingQ.City.
September 2019 – Roman Group completed another successful acquisition of 16 unit apartment building in Chinatown. The value added investment opportunity represent a close to a 20% IRR, and at $160K per door the deal present a significant discount to the market.