Case Studies

Explore proven investments across New England that showcase Arrowpoint’s disciplined strategy, hands-on management, and consistent results.

union-grove

Union Grove

Methuen, MA

A heavy value-add repositioning that transformed a neglected property through targeted renovations and tenant improvements, achieving $500 rent premiums and delivering projected returns two years ahead of schedule.

Union Grove

Investment Snapshot

  • Units: 36
  • Acquisition: Apr 2018 | $3.89M
  • Disposition: Jun 2021 | $6.5M
  • Hold Period: 38 months
  • Avg. Rent/Unit: $905 ➝ $1,400
  • Investor Returns: 26.0% IRR | 1.97x EM

Project Overview

Union-Grove Apartments was acquired in 2018 as a heavy value-add opportunity. The property had been severely neglected by its owner and required extensive interior and exterior repairs. Arrowpoint was also forced to turn over 50% of the resident base due to delinquency and criminal activity.

Within 24 months, Arrowpoint renovated 75% of units, upgraded common areas, facades, landscaping, and made structural improvements. Renovated units achieved rent premiums of $500, driving accelerated revenue growth. These operational and physical improvements enabled the asset to reach its projected exit price two years ahead of schedule, delivering strong investor returns.

ARP-IMG-Thumbnail-Tatnuck

Tatnuck Square

Worcester, MA

Acquired through Arrowpoint Multifamily Fund I, this well-located asset is undergoing strategic upgrades and revenue enhancements with projected returns of 26.0% IRR and 1.97x equity multiple.

Tatnuck Square

Investment Snapshot

  • Units: 120
  • Acquisition: Aug 2022 | $26.7M
  • Current Market Value: $33M
  • Projected Hold Period: 4 years
  • Projected Investor Returns: 26.0% IRR | 1.97x EM

Project Overview

Tatnuck Square was acquired in August of 2022 as the first acquisition in the Arrowpoint Multifamily Fund I, Lp. The asset was acquired from an institutional fund manager that acquires multifamily communities across the country. Arrowpoint was initially attracted to the quality of the asset and it’s top location in one of the best neighborhoods of Worcester. At the time of acquisition, the property had undergone over two million dollars in capital improvements.

Arrowpoint was able to identify additional value-creation by renovating a third of all units up to higher standards, adding new amenity space and sourcing new revenue streams such as charging for parking. Management is currently achieving $300 per month premiums on renovated units.

riversedges

Rivers Edge

Haverhill, MA

An off-market acquisition that delivered strong performance through selective renovations, tenant repositioning, and adaptive reuse of underutilized commercial space.

Rivers Edge

Investment Snapshot

  • Units: 164
  • Acquisition: Aug 2016 | $15.6M
  • Disposition: Jul 2019 | $21.8M
  • Hold Period: 35 months
  • Avg. Rent/Unit: $1,112 ➝ $1,267
  • Investor Returns: 32.1% IRR | 2.16x EM

Project Overview

Rivers Edge was acquired off-market in 2016 from a professionally managed institutional owner. Despite prior management, Arrowpoint identified multiple value-add opportunities, including renovating 25% of units, upgrading the façade, landscaping, parking, and amenities, and re-tenanting the property to improve resident quality and rent roll performance.

In addition, Arrowpoint secured city approvals to convert underutilized commercial space into residential units, unlocking further value. These strategic initiatives accelerated revenue growth and NOI expansion, enabling the asset to exceed its seven-year underwriting projections in under three years and deliver highly attractive investor returns at exit.

highlandestates

Highland Estates

Pelham, NH

This targeted value-add investment focused on operational improvements and utility cost reductions, resulting in NOI growth and a successful sale within 27 months.

Highland Estates

Investment Snapshot

  • Units: 48
  • Acquisition: Aug 2015 | $4.3M
  • Disposition: Dec 2017 | $5.25M
  • Hold Period: 27 months
  • NOI: $309,542 → $347,580
  • Investor Returns: 22.8% IRR | 1.82x EM

Project Overview

Highland Estates was acquired from a long-term owner as a targeted value-add investment. Within 24 months, Arrowpoint executed a comprehensive repositioning strategy, renovating approximately 30% of the units, enhancing common areas, landscaping, and signage, and implementing operational improvements. A key initiative included transitioning electric heating from landlord-paid to resident-paid, materially improving NOI. Through disciplined asset management, Arrowpoint rebranded and re-tenanted the property, driving significant rent growth and NOI increases. These strategic improvements positioned the asset for a successful disposition after just 27 months of ownership, delivering strong risk-adjusted returns to investors.

ARP-IMG-Thumbnail-Appleton

Appleton Square

Methuen, MA

This property was upgraded with full-unit renovations, energy-efficient improvements, and new amenities, leading to a recapitalization that returned all investor equity and profits.

Appleton Square

Investment Snapshot

  • Units: 140
  • Acquisition: Sep 2019 | $29.2M
  • Current Market Value: $40M
  • Recapitalization: $37.5M
  • Investor Returns: 25.6% IRR | 1.86x EM
  • Current Arrowpoint portfolio property

Project Overview

Appleton Square was acquired in 2019 utilizing the proceeds from the sale of the Rivers Edge property. Arrowpoint was just the second owner as the asset was acquired from the original developer. Arrowpoint’s team was able to identify several sources of value-creation as the asset had not been updated in some time. Currently, management’s value-add program has been completed as close to fifty units were fully renovated, energy upgrades implemented via the Fannie Mae Green program, new amenities added such as a dog park, patio and lounge area with grill stations and an Amazon package locker. Arrowpoint was able to fully capitalize on the additional value by raising new equity via a debt fund and returning all initial investor equity and profits, resulting in an investor return north of 25%.

ARP-IMG-Com-WoodCrest_10

Wood Crest Apartments

Lowell, MA

A disciplined value-add execution that repositioned a 51-unit community through phased renovations and capital improvements, achieving full stabilization at 100% occupancy and delivering a 30.48% IRR with a 3.47x equity multiple.

Wood Crest Apartments

Investment Snapshot

  • Units: 51
  • Acquisition: Dec 2020 | $7.3M
  • Disposition: Jan 2026 | $10.9M
  • Hold Period: 60 months
  • Appreciation: 49%
  • Investor Returns: 30.48% IRR | 3.47x EM

Project Overview

Wood Crest Apartments was acquired in December 2020 as a targeted value-add opportunity in Lowell, Massachusetts. Over the course of ownership, Arrowpoint implemented a comprehensive renovation strategy, upgrading approximately 50% of the units while completing major capital improvements including roofing and siding upgrades, parking lot improvements, and other critical building and site investments.

Units were brought to market in phases as renovations were completed. The asset was successfully stabilized at 100% occupancy following the full execution of the business plan.

The community consists of 51 units across 37,510 square feet, including one-bedroom and two-bedroom apartments, townhomes, and studio units. The property was sold in January 2026 for $10.9 million following the successful repositioning, delivering a 30.48% internal rate of return and a 3.47x equity multiple to investors.