Fund 60 - Elevest Capital

projected returns

Preferred Return

8.0%

LP/GP Split

85/15

IRR

15.7%

Equity Multiple

2.02x

Avg. Cash Flow

4.0%

Annualized Returns

20.3%

Why we love this deal

We have identified Rise Apollo Heights as a property that meets our criteria. Currently operating as Shiloh Oaks Apartments, Rise Apollo Heights is a B+ class property in a B+ location. The asset is a 248-unit multifamily community built in 1983.

Significant 30%+ discount from what it would have sold for 18-36 months ago

Distressed Seller selling for a $13.3M loss

Sourced completeley off-market with no competition from anybody else

Significant upside to renovate 88% of units (217 units) and add Washers/Dryers to 100% of units

Extremely low basis of $135K/unit – rare for an asset with 80% 2-bedrooms

Conservative leverage at 63% Loan-to-Value (LTV)

Questions?

our track record

Purchase Price

$33,500,000

Number of Buildings

21 Number of Units

248 Vintage

1983

Rentable Square Feet

222,760 SF

Average Unit Size

898 SF

Air Conditioning

Individual HVACs

Construction

Wood Frame/Brick

Roof

Pitched/Shingle

Electrical

Individ. Metered

offering summary

Purchase Price

$33,500,000

Equity Raise

$19,400,621

Occupancy

87.0%

Cap Rate (T3/ PF Exp)

5.03%

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

$46,371,101

uses

total

$46,371,101