top of page
PROJECT & TIMING
MULTIFAMILY
PROPERTY TYPE
DEVELOPMENT
PROJECT
192
UNITS
2024
YEAR BUILT
5 YEARS
HOLD PERIOD
DEC 2022
CLOSE DATE
20 MONTHS
CAPEX/BUILD DURATION
YEAR 2
REFI YEAR
3.75%
ENTRY CAP RATE
4.00%
EXIT CAP RATE
$19.2 MM
EQUITY
$36.7 MM
DEBT
$54.8 MM
TOTAL COST
$285 k
COST/UNIT
2.00% | 65%
INT RATE | LTC
17% - 21%
TARGET IRR
2.1x
EQUITY MULTIPLE
$8.1 MM
REFI PROCEEDS
$39 MM
SALE PROCEEDS
$50,000
MINIMUM INVESTMENT
CAPITAL STRUCTURE & RETURNS
MARKET & LOCATION
1
LOW VACANCY
Strong occupancy with a low sub market vacancy of 6%
2
HIGH RENT GROWTH
In 2022 rents have grown by 14%
3
STRONG JOB GROWTH
Employment grew by 6.6% in 2021
bottom of page