New High-Yield Private Equity Real Estate Investment Fund With 20% Target IRR

RealtyMogul has an opportunity for Investors looking for high-yield potential through a private real estate equity fund focused on the Southeastern U.S. 

The pledging window has opened for Ardent Housing Fund II, a $100 million real estate equity fund that will develop and operate 1,447 apartments in six projects.

The fund, created by Ardent Cos., plans to take advantage of the population spike in the Southern U.S., which is growing 70% faster than the national average resulting in the housing supply being unable to keep up with demand. 

Three of the five active assets in the pipeline are located in Florida (Punta Gorda, Ocala, Boca Grande), two are in Georgia (Port Wentworth and Braselton), and the sixth was a 28-acre plot of predeveloped land that recently sold for a roughly $8 million profit in June. 

The Parkside at Punta Gorda, The Grove at Ocala and Claret Village at Braselton projects are all in their construction phase while Parkside at Boca Grande is in the predevelopment stage and may be sold before it’s developed should Ardent’s principles determine it’s in the best interest of the fund. Ardent also agreed to sell the Port Wentworth site in Georgia for an amount that’s projected to achieve an unlevered internal rate of return (IRR) of 17% to investors. 

• Minimum investment: $35,000
• Target IRR: 20%
• Target equity multiple: 1.8x
• Target investment term: three to four years

Since Ardent Cos. founding in 2012, the group has invested over $4 billion in capital and has a portfolio of assets under management valued at more than $1.5 billion. Along with its co-partners, Ardent has developed nearly 8,000 apartment units across the Southeast United States and maintains a presence in 30 states and two countries. 

Capital for the Ardent Housing Fund II is being raised through the RealtyMogul platform where a project webinar and the opening of the investment window are expected to be announced in the coming days.

Discover more private market real estate offerings on Benzinga's Real Estate Offering Screener.

Photo: Courtesy of RealtyMogul