Austin Multifamily Real Estate Offering Now Live With 15.9% Target Annual Returns

The real estate crowdfunding platform (click here to view more real estate crowdfunding offerings) RealtyMogul recently launched a new offering for Citizen House Decker, a brand new, Class A multifamily property located near the new Tesla Inc. TSLA gigafactory in Austin, Texas.

The deal sponsor is looking to raise $77.1 million in equity to purchase the multifamily property that was built in 2021. The brand new estate has an occupancy rate of 61.3% and a year one cap rate expected at 3.71%, which is 20 basis points more promising than the market cap rates in Austin for Class A residences currently. The target return is an attractive 15.9%.

Investment Highlights: The property is located at a 4-mile drive from the brand new Tesla gigafactory and is the nearest Class A apartment rental property to it. The estate offers amenities like a resort-style pool, poolside grills and eating area, a resident lounge with kitchen and arcade, coworking space and a fitness facility.

The deal sponsor intends to keep the property stable at market rents by leasing it with concessions at reduced costs. Rents are currently about $500/month less on average than high-end properties a few miles west of the city. In addition, the buyer intends to capitalize on the Austin market's rapid expansion.

• Minimum investment: $35,000
• Target IRR: 15.9%
• Target annual cash yield: 6.6%
• Target equity multiple: 1.89x
• Target investment term: 5 years

Visit RealtyMogul for more details on this offering

Deal Sponsor: Prism Multi Family Group is a real estate investment and asset management firm established in Canada specializing in buying high-value multifamily properties in the United States. The company only employs top management firms to work with, reducing high costs and maximizing potential market rent. The group has $230 million in assets under management, with properties all over Florida, Arizona, Texas, Nevada and California.

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