MACRE Properties is pleased to announce the successful exit of 35–37 Sheldon Terrace in New Haven, CT. The off-market deal marks the Company's first full-cycle transaction and involves the sale of its very first acquisition from 2018.

The property was acquired in 2018 with substantial deferred maintenance and below-market rents. Leveraging a value-add strategy and hands-on management, MACRE Properties repositioned the asset to unlock significant value—culminating in an exit that exceeded initial underwriting expectations.

"We are incredibly proud to have not only a successful, off-market deal closed in 2018, but also, one that far exceeds our initial expectations from when we purchased the deal. This underscores our investment process and strict underwriting procedure that ensures we are buying quality assets at attractive bases."— Matthew Cianci, Founder of MACRE Properties

Value-Add Strategy

Over the seven-year hold period, MACRE Properties implemented a comprehensive value-add strategy that included:

• Addressing deferred maintenance and capital improvements
• Repositioning units to market rents
• Implementing professional property management
• Optimizing operating expenses

Transaction Significance

This is the Company's fourth transaction of 2025 and the sale implies a valuation of $223,500 per unit at a 5.9% going-in cap rate, underscoring the strength of the Company's off-market deal-making strategy and hands-on execution in value-add multifamily.