Fund 59 - Elevest Capital

projected returns

Preferred Return

8.0%

LP/GP Split

85/15

IRR

15.5%

Equity Multiple

2.01x

Avg. Cash Flow

4.3%

Annualized Returns

20.1%

Why we love this deal

Rise Sunridge is a 200 unit multi-family asset built in 1988. This asset is a B+ class property in a B+ location in Charlotte, North Carolina

Significant 20%+ discount from what it would have sold for 18-36 months ago

Significant upside to renovate 100% of units and add washers/dryers to all units

Very low basis of $155k/unit. Rare for a property with 60% 2 & 3-bedrooms

Legacy seller has owned the property for 25 years and hasn't renovated the units

Conservative low leverage at 68.3% Loan-to-Value (LTV)

Vertical integration reduces execution risk and enhances outcome predictability

Questions?

our track record

Purchase Price

$24,500,000

Number of Buildings

7 Number of Units

144 Vintage

2000

Rentable Square Feet

123,120 SF

Average Unit Size

855 SF

Air Conditioning

Individual HVACs

Construction

Wood Frame

Roof

Pitched/Shingle

Electrical

Individ. Metered

offering summary

Purchase Price

$31,000,000

Equity Raise

$15,715,786

Occupancy

91.5%

Cap Rate (T3/ PF Exp)

5.47 Projected Exit Cap Rate

4.80%

Hold Period

2-5 Years

minimum investment

$100,000

financial summary

equity member class with preferred cash on cash return

8.0% preferred cash on cash return; 85/15 LP/GP split on sale; upon achieving a 2x equity multiple, profits are split 50/50 (after 2x)

sources

total

$33,192,627

uses

total

$41,148,189