Fractional Investment Opportunity In Beachfront Multifamily Property: Last Call To Invest

Retail investors have the opportunity to own equity in Eliot on the Ocean, a 94% occupied multifamily mid-rise apartment complex along Revere Beach in Boston’s North Shore suburb, through an offering on Yieldstreet’s alternative investment platform (view more offerings).

Investors have already funded 92% of Yieldstreet’s $23 million equity position in this property, so this is the last call to participate in the offering.

The Asset: Eliot on the Ocean is a 194-unit luxury apartment community that was constructed in 2016. The property has unobstructed beach frontage and easy access to downtown Boston.

The sponsor acquired the property at an opportunistic price, with rents being among the lowest along the Revere oceanfront. The sponsor’s plan includes spending $1 million in light cosmetic renovations to allow for rent increases and capital appreciation.

The submarket is expected to see 8% rent growth in 2022 and 5% average annual rent growth over the target holding period for this investment. The expected growth is mainly due to the area’s growing population and its strong job market.

Investment Highlights: The offering provides the opportunity to invest in a stabilized asset that’s already producing consistent cash flow with the significant upside potential from the value-add component.

According to CBRE Group Inc CBRE, Greater Boston is the number one life science hub in the U.S. and is home to some of the most innovative companies in the world such as Novartis AG NVS, Moderna Inc MRNA and Microsoft Corporation MSFT.

The Greater Boston market is also the largest focus for Alexandria Real Estate Equities Inc ARE new life sciences developments, including Moderna’s new 426,100 square foot headquarters in Cambridge, MA.

• Minimum investment: $5,000
• Target annualized return: 14%-16%
• Target annual cash yield: ~4%
• Target holding period: 4 years

View Complete Offering Details

Image source: Eliot on the Ocean website