Description To be added + the image Project Details: to be updated
Portfolio
Canopy Creek Apartments
Description
Canopy Creek Apartments is made up of 288 deferred-maintenance and non-upgraded units located in the Jacksonville, FL market. We were able to purchase this property off-market, leveraging the sponsor teams cash to secure the property nearly $1 Million below the matching-comparable. Construction will be executed on this project by a contractor that has worked with the sponsor team on multiple past deals. Rents will then be pushed $160-$345 on renewals to catch up to market rents. It will begin to reposition from a C class property to a B class property.
Project Details:
Project Sources: $33,134,622
Project Timeline: 5 Years
Projected Returns: 8% preferred return yearly / Projected 18% IRR
Projected Equity Multiple: 1.9
Location: Jacksonsville, Florida
Strategy: Value-Add
Status: Owned
Mesa Verde Apartments
Description
Purchased off-market, direct from seller, who’s owned the property since 1975. Property is below market on average $383 per month compared to renovated units and 10-15% below as-is units, leaving significant upside potential. Property is well-located 10 miles outside of Denver in a great neighborhood surrounded by A-Class & B-Class apartments, making the rental pricing even more compelling for renters.
Project Details:
Project Sources: $71,000,000
Project Timeline: 10 Year
Projected Returns: 7% preferred return yearly / Projected 18% IRR
Projected Equity Multiple: 3.2x
Location: Denver, CO
Strategy: Value-Add CashGrowth
Status: Owned
Rise Midtown Apartments
Description
This fantastic, value-add opportunity consists of 200 units, primed for platinum upgrades and additional amenities.
Rise Midtown is in great physical condition The current owner has taken good care of the major capex items such as the roofs, plumbing, and electrical systems.
Located in the premium Midtown Phoenix submarket which provides excellent employment opportunities and is truly positioned for growth with its strong population and job growth.
Project Details:
Project Sources: $71,000,000
Project Timeline: 2-3 years
Projected Returns: Preferred return 8%
Projected Equity Multiple: 1.75x
Location: Phoenix, AZ 85016
Strategy: Equity Growth – Value-Add
The Retreat (Formerly La Cresenta)
Description
This fantastic, value-add opportunity consists of 197 units. Built in 1963, this property was purchased off-market, and has been owned and self-managed by the same group since the early 1990s. The property offers a significant value-add opportunity, as 100% of the units have classic interior finishes, which we will renovate to our platinum interior program. It is nestled in between major freeway systems like the Loop 202, Loop 101 and the US-60, which allows tenants to reach major employment hubs within minutes
Project Details:
Project Sources: $45,000,000
Project Timeline: 2-5 Year
Projected Returns: 7% preferred return yearly / Projected 16% IRR
Projected Equity Multiple: 1.9x
Location: Phoenix, AZ
Strategy: Value-Add Equity Growth
Status: Owned
Pines of Lanier
Description
This fantastic, value-add opportunity consists of 157 units, primed for upgrades. Ideally positioned to benefit from future income growth by upgrading the existing units with a light interior renovation package and enhancements to the amenity set to reflect those of the competitive market set. There is a lot of properties at the upper end (Class A) but slim pickings in the Class B space which allows the Project to stand as a true value alternative in the market. Located in the Atlanta, GA area which is the #1 Metro Area for Economic Growth Potential Nationally
Project Details:
Project Sources: $19,200,000
Project Timeline: 2-5 Year
Projected Returns: Preferred Return 6-9%
Projected Equity Multiple: 1.7-2.0x
Location: Atlanta, GA
Strategy: Value-Add Equity Growth
Status: Owned
Timber Ridge
Description
Redevelopment of Timber Ridge Apartments will reposition this asset, by renovating all units at once, while improving the tenant base to prepare for sale by end of year three. Leveraging the sponsors extensive track record, existing relationships and direct construction management. This project is designed to cater to investors who are looking for downside protection, while maximizing overall investment return.
Project Details:
Project Sources: $5,890,682
Project Timeline: 3 Years
Projected Returns: 8% Preferred Return, plus a split of profits above the preferred.
Projected Equity Multiple: 1.7x
Location: Denver, CO
Strategy: Value-Add Equity Growth
Status: Owned
Estrella Apartments
Description
This fantastic, value-add opportunity consists of 232 units, primed for upgrades. Purchased well-below market value, we plan to increase value through renovation, professional management, and increasing income through utility bill-back using solar. 24 units are freshly renovated, which allow us to test increased rents prior to purchasing. Increasing our confidence & decreasing our risk for the value-add strategy. Located in the Dallas-Fort Worth area which has gained more new residents than any metropolitan area in the country, adding more than 1 million people in an eight-year period.
Project Details:
Project Sources: $33,307,118
Project Timeline: 10 Years
Projected Returns: 7% preferred return yearly
Projected Equity Multiple: 3.2x
Location: Dallas, TX
Strategy: Value-Add Equity Growth
Status: Owned
Auburn Summit
Description
This fantastic, value-add opportunity consists of 187-unit, 3-property package, primed for capital improvements.
Units are currently priced on average $172 below market, which with current demand and 100% occupancy we conservatively project strong upside. Locally managed, well-maintained assets with the opportunity for amenity and interior upgrades. The portfolio is nestled in close proximity to Auburn University which has a total enrollment of 31,000+, near multiple major employment hubs. Located in a consistently growing tertiary market which has
strong job and population growth. It’s located in the 19th fastest growing metro area in the United States
Project Details:
Project Sources: $23,052,779
Project Timeline: 5 Years
Projected Returns: 7% preferred return yearly
Projected Equity Multiple: 2.01x
Location: Auburn, AL
Strategy: Value-Add Equity Growth
Status: Owned
The Lyon, Des Moines, IA
Description
The Lyon is a 127 unit 11 story multifamily project located in a premium downtown location. With lower risk fixed rate leverage (67% LTV) this project is perfect for investors looking for more security and a conservative investment, yet desire strong upside.
Completely renovated units to A Class standards, a skyline terrace, complimentary coffee bar, fitness studio, bicycle storage and on-site parking availability make it appealing to long-term renters.
Located in the desirable Des Moines market which is the #1 Hottest Cities for Jobs. A+ Location in the rapidly growing East Village neighborhood of Des Moines
Project Details:
Project Sources: $20,358,179
Project Timeline: 7 Years
Projected Returns: 6% preferred return yearly
Projected Equity Multiple: 2.25x
Location: Des Moines, IA
Strategy: Value-Add Equity Growth
Status: Owned
Green Meadows
Description
Green Meadows is a closed value-add equity growth project based in Denver, CO with a total investment of $5,000,000. It's projected to run over a period of 5 years. The financial structure offers a 7% preferred return to investors, with profit splits of 70% to Limited Partners (LPs) and 30% to General Partners (GPs) above the preferred return, and 50% to each above a 17% IRR. The project includes a 2% acquisition fee and a 2% annual asset management fee. It's projected to deliver an equity multiple of 1.8 to 2.0 times the initial investment.
Project Details:
Project Sources: $5,000,000.00
Project Timeline: 5 Years
Projected Returns:7% Preferred Return to Investors, 70% LP / 30% GP Split of Profits Above the Pref. 50% LP / 50% GP Split Above a 17% IRR.
Projected Equity Multiple: 1.8-2.0x
Location: Denver, CO
Strategy: Value-Add Equity Growth
Status: Closed
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