Another apartment building is scheduled to begin investor distributions this month!
Although it took a few more months than expected due to construction delays and costs, we are back on track!
551 Daisy Ave., Long Beach, California
This building continues to be fully leased with no missed payments from Covid or otherwise. 3 of the 8 units have been remodeled and we still have Capital Expenditure (CapEx) budget to invest as units are naturally turned over.
In the meantime, there has been significant rent growth in Long Beach so even un-rehabbed units are seeing a 5-8% annual increase in rents.
As we’ve discussed previously, this is why apartment buildings are a great hedge against inflation. As the cost of everything rises, so does rent, and so do distributions that are tied to fixed rate debt as is the case with the properties CSQ invests in.
A special thanks to the investors on this one who have all been patient over the last few months with the delay in distributions. The distribution will be sent to your account via ACH and record of it uploaded to your CSQ Investor Portal.