Private Equity Real Estate Investment Offering For Fort Worth Multifamily Property Targeting a 20.9% Annualized Return

The commercial real estate investment platform RealCrowd has launched a new offering for a multifamily asset with strong upside potential in Fort Worth, TX. The opportunity is being sponsored by the real estate investment firm LURIN.

The 109 unit apartment complex presents a significant value-add opportunity for investors. The current rents are priced well below market, which the sponsor anticipates being able to raise by an average of $373 per month, per unit.

LURIN has budgeted $4.4 million for renovations, which will include interior upgrades, exterior improvements, improving existing amenities and adding new amenities, to transform the asset into a desirable Class B property.

The sponsor has successfully completed several similar value-add projects, generating an average internal rate of return (IRR) of 33.8%.

Investment Targets: LURIN plans to begin making distributions upon completion of the renovations, with the first distribution targeted for December 2023.

• Minimum investment: $50,000
• Target Investor IRR: 20.91%
• Target equity multiple: 1.74x
• Target hold period: 3 years

Deal Sponsor: LURIN is a real estate investment firm headquartered in Dallas, Texas. The company maximizes value by purchasing properties at significant discount to replacement cost and by addressing property and operational issues through repositioning, aggressive asset management and targeted value-add initiatives.

LURIN currently has approximately $1.7 billion of assets under management across 8,067 units.

View more details about this offering and others on the RealCrowd platform through Benzinga Alternative Investments.

Photo: Courtesy of Wedgewood Heights