fund69 – Elevest

OPPORTUNITY OPEN: [FUND69]

Multifamily Offering

Dallas, Texas, 320 units

Address: 2500 Guerrero Dr, Carrollton, TX 75006

Preferred Return

8.0%

LP/GP SPLIT

85/15

TARGET IRR

15.16%

EQUITY MULTPLE

1.97x

AVERAGE CASH FLOW

4.00%

Preferred Return

8.0%

LP/GP SPLIT

85/15

TARGET IRR

15.16%

EQUITY MULTPLE

1.97x

AVERAGE CASH FLOW

4.00%

Why we love this deal

Fund 69 is a property that meets our criteria. Currently operating as Holden Apartments, the property is deemed as a B+ class property in an A+ location. The asset is a 320-unit multifamily community built in 1985.

Silver Lake

Institutional B+ Class Asset

136 Units

89.7% Occupancy

Our Track Record

Purchase Price

$22,100,000

Number of Units

136 Vintage

1985

Offering Summary

PURCHASE PRICE

$22,100,000

EQUITY RAISE

$10,857,084

Occupancy

89.7%

Cap Rate (T3/ PF Exp)

5.04%

Projected Exit Cap Rate

4.75%

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

source

amount

Debt – Funded at closing

$14,861,170

Debt – Future funding (funded when we submit CapEx draws)

$1,769,020

Equity

$10,857,084

Total Sources

$27,487,274

uses

amount

Purchase Price

$22,100,000

CapEx

$1,769,020

Closing Costs (legal fees, interest rate cap, third party reports, etc.)

$1,152,620

Acquisition Fee

$1,105,000

Lender Origination Fees

$332,604

Prepaid Expenses (Insurance and Taxes)

$169,204

Prepaid Interest

$58,825

Reserves (Held at property's bank account)

$800,000

Total Uses

$27,487,274

OPPORTUNITY OPEN: [FUND69]

Multifamily Offering

Dallas, Texas, 320 units

Preferred Return

8.0%

LP/GP SPLIT

85/15

TARGET IRR

15.16%

EQUITY MULTPLE

1.97x

AVERAGE CASH FLOW

4.00%

Preferred Return

8.0%

LP/GP SPLIT

85/15

TARGET IRR

15.16%

EQUITY MULTPLE

1.97x

AVERAGE CASH FLOW

4.00%

Why we love this deal

Best cash-flowing deal we've acquired in over three years

A+ plus location 1-mile income of $120k/year

Distressed seller taking a complete loss of equity

Biggest value add is increasing occupancy and implementing an operational amenity bulk fee

Silver Lake

Institutional B+ Class Asset

136 Units

89.7% Occupancy

Our Track Record

68

11

$2.7B+

12,817

Never

Purchase Price

$22,100,000

Number of Units

136

Vintage

1985

Offering Summary

PURCHASE PRICE

$22,100,000

EQUITY RAISE

$10,857,084

Occupancy

89.7%

Cap Rate (T3/ PF Exp)

5.04%

Projected Exit Cap Rate

4.75%

Hold Period

2-5 Years

minimum investment

$100,000

Financial Summary

source

amount

Debt – Funded at closing

$14,861,170

Debt – Future funding (funded when we submit CapEx draws)

$1,769,020

Equity

$10,857,084

Total Sources

$27,487,274

uses

amount

Purchase Price

$22,100,000

CapEx

$1,769,020

Closing Costs (legal fees, interest rate cap, third party reports, etc.)

$1,152,620

Acquisition Fee

$1,105,000