Our real estate sales department was very active in the third quarter, selling forty-two properties and working towards liquidating the rest of Capital Income & Growth Fund by the end of this year.
We still have a handful of non-performing notes that are in foreclosure. Some notes are going to sale shortly and our goal is to have them sold at the courthouse steps. If that doesn’t happen, we will liquidate these assets in their “as is” condition and make them available to local investors who are having difficulty finding inventory in many markets and are, as a result, paying a premium at this time.
Stonecrest is on track to close the fund at the end of 2017 with the final distributions targeted for mid-January 2018.
Total Fund Annualized Return Since Inception: 17.51%
Featured Asset:
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Our featured property this quarter is located at 18336 W. Skinner Road, Surprise, Arizona. This 2,640 sq ft single family home has 4 bedrooms, 2 bathrooms and sits on a 1.19 acre lot. Investment Stats (rounded):
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Fund Performance:
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