top of page
PROJECT & TIMING
MULTIFAMILY
PROPERTY TYPE
DEVELOPMENT
PROJECT
182
UNITS
2024
YEAR BUILT
5 YEARS
HOLD PERIOD
FEB 2023
CLOSE DATE
15 MONTHS
CAPEX/BUILD DURATION
YEAR 2
REFI YEAR
4.25%
ENTRY CAP RATE
4.25%
EXIT CAP RATE
$14.5 MM
EQUITY
$27.1 MM
DEBT
$41.6 MM
TOTAL COST
$228 k
COST/UNIT
2.00% | 65%
INT RATE | LTC
17% - 21%
TARGET IRR
2.0x
EQUITY MULTIPLE
$13 MM
REFI PROCEEDS
$22.5 MM
SALE PROCEEDS
$50,000
MINIMUM INVESTMENT
CAPITAL STRUCTURE & RETURNS
MARKET & LOCATION
1
LOW VACANCY
Strong occupancy with a low sub market vacancy of 4.5%
2
HIGH RENT GROWTH
In 2022 rents have grown by 10%
3
STRONG JOB GROWTH
Projected 4% annual job growth over the next 10 years
bottom of page