We are very excited to present you with a unique opportunity to partner with us on a ground up development of 264-units of A-class product in one of the best markets in the country - San Antonio, TX.
Projected 0% COC / 30-35% IRR
15% Preferred Return
Closing April 29, 2022
This is a hidden gem - clean property with 95%+ occupancy in a growing area. Purchasing at $70k/door with rent upside to $1000/mo. Going in at a 6% cap rate on T12 and assuming low leverage fixed rate debt at 2.82%.
Highlights:
A true purchase discount at $77k/door in a path of progress neighborhood on the east side of Houston, TX. We're excited about this 320-unit property with huge upside. It's going to look amazing when we're done renovating!
Projected 12-14% COC / 16-18% IRR
Closed December 2021
This why we like the Midwest - a T12 cap rate over 7%, long term fixed debt at 4%, and lots of room to complete major renovations and add value to the neighborhoods we're in. Purchasing at $65k/door with rent upside to over $1000/mo.
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