Closed: 434 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 6,000+ apartment units and more than $700 Million in AUM. Great deals are tough to find, but persistence and determination pays off!

Here are some details:

434 Units in Des Moines, IA | Institutional Quality Multifamily Asset

Equity Raise: ~$29 Million

BAM Capital received this compelling opportunity off-market because of BAM’s credible reputation with property owners and investment sale brokers. The asset was acquired ~$80k/unit less than similar vintage deals in the Midwest and well under replacement cost.

We also have a phenomenal debt relationship with a publicly traded bank that provides us with a wide array of financing options better than market rate.

BAM’s holdings are now up to ~1,000+ units in the Des Moines market giving us economies of scale which directly benefits our investors.

Business Plan: BAM Capital acquires an asset with exceptional in-place cash flows that also has a light value-add component. The current in-place rents are below market, and BAM will take advantage of its operating platform to increase operational efficiencies.

Investors have their choice between a 10% annualized monthly distribution or a 7% preferred return with a targeted IRR of 15-20+%.

This is part of the BAM Multifamily Growth & Income Fund III – a $100MM equity Fund

[Andrew Hogan]

Such a great acquisition! Honored to part of such a high-quality team :)