Multifamily, 250 Unit Apartment Syndication CLOSED!
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