Fund 63 - Elevest Capital

projected returns

Preferred Return

8.0%

LP/GP Split

85/15

IRR

15.5%

Equity Multiple

2.00x

Avg. Cash Flow

4.0%

Annualized Returns

20.0%

Why we love this deal

We have identified Rise Westgrove as a property that meets our criteria. Rise Westgrove is 97 units, built in 1987. The property is a B+ class asset located in a B+ location of the Raleigh-Durham MSA. It offers immense upside with the opportunity to renovate 100% of the classic units and add washers/dryers to 100% of the units.

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

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

JV Partnership dispute where Equity Partner is forcing sale of the asset

Extremely low basis of $192K/unit, rare for Town Homes with all 2 & 3-bedrooms

Tax Abatement Strategy eliminating 90% of property taxes to boost investor returns

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

Questions?

our track record

Purchase Price

$18,700,000

Number of Units

97 Vintage

1987

Rentable Square Feet

83,121 SF

offering summary

Purchase Price

$18,700,000

Equity Raise

$9,756,820

Occupancy

94.0%

Cap Rate (T3/ PF Exp)

5.09%

Projected Exit Cap Rate

5.15%

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

sources

total

$23,353,215

uses

total

$23,353,215