The Retreat Columbia is a 13-cottage student housing portfolio located in a larger off-campus student housing development near the University of South Carolina. Tucker previously owned several cottages in the development prior to the portfolio giving him unique insight in the asset and market. The portfolio was acquired off-market at a ~7% discount to market value.

The portfolio was enhanced by selling some of the smaller cottages for a gain and reinvesting the proceeds into larger more profitable units without needing to add any additional equity. In addition, ten of the thirteen units were sold without a broker, saving investors about 6% per sale.

The portfolio was sold in early 2023 at a 1.9x equity multiple and a 76% IRR, with every investor rolling proceeds into the next investment through a 1031 exchange.

Tucker co-led this investment through Sweetbay Capital.

Columbia, SC · 13 units · Realized 2023 · 1.9x / 76% IRR