RealtyMogul: Pacific Northwest

Real estate investment platform RealtyMogul announced the opening of the pledging window for an equity investment in a townhouse community in Vancouver, Washington.

Ridgeline View Townhomes is a newly developed townhome community in the growing submarket of Portland. The property comes with inherent built-in value after being acquired in an off-market transaction for a discounted price 20% below the original list price. With 10 units reserved for residents earning 80% of the area’s median income, the property qualifies for a 10-year tax abatement through Vancouver’s Multifamily Tax Exemption Program, which runs through 2032. 

Built in 2022, Ridgeline View Townhomes is a luxurious 50-unit townhouse community. Each unit boasts high-end interior finishes, stainless steel appliances and luxury vinyl plank flooring in a two-story floor plan. Select units have a private backyard and deck. 

The Portland metropolitan statistical area (MSA) provides residents with affordable living options near excellent employment centers, outdoor recreation, urban downtown areas and historic attractions. Limited housing inventory growth is projected for the area, with an average increase of less than 2.4% annually through 2028. This trend is expected to persist, leading to sustained and increasing demand for multifamily housing such as what is being offered by Ridgeline View Townhomes. 

• Minimum investment: $35,000
• Target internal rate of return (IRR): 17.5%
• Target equity multiple: 1.56x
• Target cash yield: 7.7%
• Target investment term: three years

RealtyMogul Communities, the sponsor of the investment offering, is the direct acquisition arm of RealtyMogul. RealtyMogul operates an online technology platform that allows members to invest in affiliated and unaffiliated real estate companies, resulting in the acquisition of approximately $5.9 billion of real estate assets, including over 29,000 apartment units. The firm also has significant experience in the region, owning and operating two similar townhome properties within 2.5 miles of Ridgeline.

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Photo courtesy of RealtyMogul