Closed: 250 Unit Apartment Community | Syndicated Deal

[Ivan Barratt]

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.

[Todd Dexheimer]

congrats and keep it going!