90 unit new build

[William Dorrough]

Investment Info:

Large multi-family (5+ units) buy & hold investment.

Purchase price: $1,500,000
Cash invested: $13,000,000

this project is currently under construction it is a 90 unit ground up build of market rate apartments with a student housing element

What made you interested in investing in this type of deal?

we are a fully integrated developer builder and property manager

How did you find this deal and how did you negotiate it?

friend of a friend

How did you finance this deal?

we paid cash for the land and borrowed 13 mil for construction

What was the outcome?

we are currently building with a mid summer completion date