Fund I Investment Period: 2009 to present IRR: 24.7% to date Equity Multiple: 5.3x to date
Fund II Investment Period: 2010 to present IRR: 22.5% to date Equity Multiple: 3.9x to date
Fund III Investment Period: 5 years IRR: 29.9% Equity Multiple: 3.3x
Beginning in 2009, CRC Development formed three investment funds to acquire REO and short sale single family homes in Oakland. After initial rehabilitation, the homes were leased to neighborhood families and individuals. Acquisitions concluded in 2012 with the three funds purchasing a combined total of 135 homes. With ongoing sales of selected homes, the company continues to own, operate, and manage a portfolio of single family rental units.