Tailwind enters San Francisco, Las Vegas with $60M portfolio purchase

Core Insights - Tailwind Investment Group has acquired a three-property portfolio for a total value of $59.5 million, marking its entry into the San Francisco and Las Vegas metro areas [1][2] - The properties consist of 365 units with an occupancy rate of approximately 95%, purchased in an off-market transaction from a long-term family owner [2] - Tailwind has assumed an existing HUD loan, which is expected to provide strong current cash yield and attractive future income growth potential [2] Property Details - Berryhill is a 96-unit garden-style community located in Grass Valley, California, built in 1980, featuring one-, two-, and three-bedroom layouts, a leasing office, clubhouse, and pool [3] - Morrell Park is a 160-unit garden-style asset in Henderson, Nevada, built in 1981, with a large leasing center, clubhouse, resort-style pool, and renovated unit interiors [3] - Peachwood is a 109-unit garden-style apartment property in Fairfield, California, also built in 1981, featuring two pools, two laundry facilities, and landscaped grounds, with plans for a new leasing office and fitness center [3] Management and Future Plans - Apartment Management Consultants will manage the day-to-day operations of the three properties, while Tailwind will oversee asset and construction management [2] - Tailwind aims to enhance each asset through its business plans following the acquisition [2]