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Updated over 7 years ago,

User Stats

764
Posts
951
Votes
Ivan Barratt
Professional Services
  • Investor
  • Indianapolis, IN
951
Votes |
764
Posts

Closed: 250 Unit Apartment Community | Syndicated Deal

Ivan Barratt
Professional Services
  • Investor
  • Indianapolis, IN
Posted

The real thanks goes to my team and our partners! Without quality people I'd still be managing a hundred houses by myself instead of 1250 units with my sites on 2,000 and beyond! Great deals are tough to find but persistence pays off!

Here's the low down:

250 Units, Evansville, IN | Class C+/B- Asset

Acquisition and Assumption of Existing Debt (35yr Amort at 2.93%) + Mezzanine Note + Equity of about ~23% 

Equity Raise: ~3.1 Million (our own cash + limited investors as well).

Plan: achieve cash on cash returns in the mid teens (going in 8.55%), IRR of 15%+ and 2.25x over a 7 year hold.

  • Ivan Barratt

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