Los Angeles (August 2023) – Adler Realty Investments (Adler) announced today the sale of its final two homes of its residential home program. Adler Homes acquired ten homes in the Phoenix, Arizona and the Ventura, California markets during the economic downturn in 2012. Adler renovated and quickly leased the homes. The stabilized homes enjoyed long-term tenancy which provided their investors with steady cash flow.
In 2021 the residential market drastically changed due to Coronavirus, which allowed remote work and the relocation of many buyers to the Phoenix, AZ market. During this time Adler Homes began transitioning from leasing to selling as leases expired. After completing renovations to the properties Adler Homes, LLC sold the homes at a profit of nearly 150%.
“The investment appreciated substantially during the ownership period, said Michael Adler, Founder/CEO of Adler, ”We are extremely pleased with the execution of the business plan and success of the portfolio.”
Adler continues to look throughout the western United States with a focus on industrial, office, and retail opportunities.