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PORTFOLIO

DISTRICT FLATS

112 UNITS

Mesa, AZ​

 PROJECT LEVEL RETURNS

  • Disposition Date :  May 2021

  • Sale Price : $18.2M, $162.5k/Unit

  • Equity Multiple : 1.95x

  • Internal Rate of Return : 83.7%

  • Average Annual Return : 84.9%

  • Hold Period : 13.5 Months

 DETAILS

  • Acquisition Date : March 2020

  • Purchase Price : $13M

  • Down Payment and Renovation Costs : $5.15M

  • Loan : 10-Yr Floating Interest Rate, Non-Recourse Agency Loan

  • Deal Structure : 506(B) Syndication 

  • Unit Mix : 33 Studio | 78 1BR/1BA | 1 2BR/1BA

  • Projected Hold : 2-5 Years

SILVER OAKS

36 UNITS

Phoenix, AZ

PROJECT LEVEL RETURNS

  • Disposition Date : October 2020

  • Sale Price : $5.3M, $148k/Unit

  • Equity Multiple : 1.91x

  • Internal Rate of Return : 44.6%

  • Return on CapEx : 29.1%

  • Hold Period : 21 Months

DETAILS

  • Acquisition Date : February 2019

  • Purchase Price : $3.4M

  • Down Payment and Renovation Costs : $1.4M

  • Loan : 10-Yr Fixed Interest Rate, Non-Recourse Agency Loan

  • Deal Structure : Tenant-In-Common (TIC)

  • Unit Mix : 26 2BR/1BA | 10 3BR/1BA 

  • Projected Hold : 1-2 Years

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RISE MELROSE

(Formerly Revival on Indian School)

96 UNITS

Phoenix, AZ

  • Acquisition Date : May 2021

  • Purchase Price : $18.4M

  • Down Payment and Renovation Costs :

  • Loan :

  • Deal Structure : 506(B) Syndication

  • Unit Mix :

  • Projected Hold : 2-5 Years

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RISE ON PEORIA

(Formerly Haven on Peoria)

164 UNITS

Glendale, AZ

  • Acquisition Date : April 2021

  • Purchase Price : $28.7M

  • Down Payment and Renovation Costs : $9.1M

  • Loan : 3-Yr Adjustable Interest Rate, Non-Recourse Bridge Loan

  • Deal Structure : 506(B) Syndication

  • Unit Mix : 96 1BR/1BA | 36 2BR/2BA | 32 2BR/1BA

  • Projected Hold : 2-5 Years

RISE ON THOMAS

(Formerly Vibe on Thomas)

100 UNITS

Phoenix, AZ

  • Acquisition Date : April 2021

  • Purchase Price : $14.2M

  • Down Payment and Renovation Costs : $5.3M

  • Loan : 3-Yr Adjustable Interest Rate, Non-Recourse Bridge Loan

  • Deal Structure : 506(B) Syndication

  • Unit Mix : 62 1BR/1BA | 37 STUDIO | 1 2BR/1BA 

  • Projected Hold : 2-5 Years

RISE DOWNTOWN MESA

(Formerly Sunnybrook)

103 UNITS

Mesa, AZ

  • Acquisition Date : March 2021

  • Purchase Price : $16.5M

  • Down Payment and Renovation Costs : $6.2M

  • Loan : 3-Yr Adjustable Interest Rate, Non-Recourse Bridge Loan

  • Deal Structure : 506(B) Syndication

  • Unit Mix : 72 1BR/1BA | 20 2BR/BA | 10 STUDIO | 1 3BR/2BA

  • Projected Hold : 2-5 Years

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RISE METRO

(Formerly Pointe Vista)

160 UNITS

Phoenix, AZ

  • Acquisition Date : January 2021

  • Purchase Price : $24.3M

  • Down Payment and Renovation Costs : $8.76M

  • Loan : 10-Yr Floating Interest Rate, Non-Recourse Agency Loan

  • Deal Structure : 506(B) Syndication

  • Unit Mix : 71 1BR/1BA | 36 1BR/1BA | 33 2BR/2BA | 20 3BR/BA

  • Projected Hold : 2-5 Years

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PASEO 51

116 UNITS

Glendale, AZ

  • Acquisition Date : September 2020

  • Purchase Price : $15.5M

  • Down Payment and Renovation Costs : $4.89M

  • Loan : 10-Yr Floating Interest Rate, Non-Recourse Agency Loan

  • Deal Structure : 506(B) Syndication

  • Unit Mix : 80 1BR/1BA | 36 2BR/2BA

  • Projected Hold : 2-5 Years

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VILLA SERENA

137 UNITS

Phoenix, AZ

  • Acquisition Date : August 2019

  • Purchase Price : $17.6M

  • Down Payment and Renovation Costs : $5.8M

  • Loan : 10-Yr Fixed Interest Rate, Non-Recourse Agency Loan

  • Deal Structure : 506(C) Syndication 

  • Unit Mix : 74 2BR/2BA | 63 1BR/1BA

  • Projected Hold : 3-7 Years

RISE ON MCDOWELL

(Formerly Oaktree)

76 UNITS

Phoenix, AZ

  • Acquisition Date : August 2019

  • Purchase Price : $6.9M

  • Down Payment and Renovation Costs : $3.7M

  • Loan : 10-Yr Fixed Interest Rate, Non-Recourse Agency Loan

  • Deal Structure : 506(B) Syndication 

  • Unit Mix : 60 1BR/1BA | 8 2BR/1BA | 8 2BR/2BA

  • Projected Hold : 1-2 Years

SCOTTSDALE 5TH AVE

59 UNITS

Scottsdale, AZ

  • Acquisition Date : August 2019

  • Purchase Price : $6.6M

  • Down Payment and Renovation Costs : $2.6M

  • Loan : 10-Yr Fixed Interest Rate, Non-Recourse Agency Loan

  • Deal Structure : Tenant-In-Common (TIC)

  • Unit Mix : 27 Studio | 31 1BR/1BA | 1 2BR/2BA

  • Projected Hold : 10+ Years