Fund 66 - Elevest Capital

projected returns

Preferred Return

8.0%

LP/GP Split

85/15

IRR

15.57%

Equity Multiple

2.00x

Avg. Cash Flow

4.35%

Annualized Returns

20.2%

Why we love this deal

Rise Bluestone is a property that meets our criteria. Currently operating as Atria at Crabtree Valley, Rise Bluestone is a B+ class property in a A+ location. The asset is a 268-unit multifamily community built in 1987.

Off-market transaction with no competition.

Tax Abatement Strategy eliminating 90% of property taxes to boost return.

40%+ discount from peak pricing 24-48 months ago.

Significant upside by renovating 100% of interior units to light value-add scope.

A+ location with a 1-mile average income of $114,000 a year.

Value-Add by implementing bulk cable, carport parking, and operational efficiencies to increase rents by $91 per unit.

Questions?

our track record


65	Acquisitions
11	Exits
$2.6B+	Acquisition Value
12,106	Units
NEVER	Lost an investor dollar

Purchase Price

$40,300,000

Number of Units

268 Vintage

1987

Rentable Square Feet

offering summary

Purchase Price

$40,300,000

Equity Raise

$19,860,176

Occupancy

92.5%

Cap Rate (T3/ PF Exp)

5.46%

Projected Exit Cap Rate

4.9%

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


Debt – Funded at closing	$30,946,369
Debt – Future funding (funded when we submit CapEx draws)	$3,457,200
Equity	$19,860,176

total

$50,806,545

uses


Purchase Price	$40,300,000
CapEx	$3,457,300
Closing Costs (legal fees, interest rate cap, third party reports, etc.)	$1,956,071
Acquisition Fee	$1,813,500
Lender Origination Fees	$618,972
Prepaid Expenses (Insurance and Taxes)	$356,345
Prepaid Interest	$108,811
Reserves (Held at property's bank account)	$2,000,000

total

$50,806,545