Investment in a High Growth Value-Add Opportunity in Jacksonville, NC
Tremendous opportunity to increase the rental income. In addition, there are significant expense reductions to be gained through a thorough insurance bid and reduction in payroll, while continuing a high standard of property management. This increase to rents does not require significant capital improvement in the property. In summary, there is a significant opportunity to increase current rents, and decrease operating expenses through effective, professional property management.
- Extremely attractive deal under contract that is currently 50% funded
- IRR circa 20% to 23%
- Equity Required - circa $4.0M
- Debt Required – circa $15.0M
- Sponsor is a vertically-integrated multifamily real estate firm
- Sponsor specializes in value-add apartment communities across high-growth US markets
- Sponsor takes care of all of the work involved in the syndication