In April of 1997, Amerimar Enterprises, in a joint venture with Angelo, Gordon & Co., acquired this 278 unit garden apartment community. Although the property was only 54% occupied at the time of purchase, a $2 million capital investment program brought occupancy levels to 98% in just four months. In the individual apartment units, the capital expenditure program included new carpeting, appliances and bathrooms. Improvements also included new heating and air conditioning systems and upgrading of the property's exterior appearance. Amerimar recognized that the property's central location, townhouse design and overall aesthetic appeal made it an ideal candidate for this kind of renovation and turnaround program. The property proved to be a successful investment; it was sold in 1999 for for a significant profit.