The real estate crowdfunding platform CrowdStreet recently launched a new offering for The Link Apartments, a 438-unit multifamily property in West Houston with a target internal rate of return (IRR) of 17.4%
The deal sponsor is raising up to $18.5 million in equity to meet capital obligations associated with the acquisition of the garden-style apartment community that was built in 1999. The property has strong occupancy and a $1 million per year tax abatement, allowing the sponsor to offer an attractive 10% preferred return.
Investment Highlights: While the property is already sitting at a 95% occupancy rate with positive cash flow, the sponsor has identified an opportunity to increase rents by completing renovations within the units. The budgeted $10,000 per door renovations are expected to result in an additional $150 in additional monthly revenue for each unit.
- Minimum investment: $25,000
- Target IRR: 17.4%
- Target annual cash yield: 9.6%
- Target equity multiple: 2x
- Target investment term: 5 years
View offering details on CrowdStreet
Deal Sponsor: The opportunity to invest in The Links Apartments is being offered by Post Investment Group. The company has acquired over $1.5 billion of properties encompassing more than 24,000 units across 15 states, including 60 different affordable housing transactions encompassing over 9,000 units.
Discover more real estate investment opportunities on Benzinga's Real Estate Investment Hub
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Comments
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.