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Michigan 2 - NEW Value-Add Residential Project
Michigan 2 - Value-add multifamily properties in Southeast Michigan / suburbs of Detroit, all Class B or better. Operator is Pepper-Pike, same as Lake Castleton and Riverbend projects. There are Preferred and Common Equity units offered.
Preferred Equity units:
- Higher safety than Common Equity
- 16% cumulative preferred return
- 8% projected annual distributions, paid quarterly
- 15% of the back profit upside as a class
- Target IRR 18% on a 4 year hold
- Target EQM 1.8X
- Minimum investment $100,000
Common Equity units :
- Projected 2X bonus depreciation driven losses per $ invested, e.g. $200,000 target 2022 loss per $100,000 invested
- Target IRR 15-19% on a 4 year hold
- Target EQM 1.78 - 2.00X
- Minimum investment $100,000
Funds open for subscriptions
- Target return: 12-20%
- Strategy: Growth; Duration: 5-7 years
- Depreciation benefits: 2X+
- Portfolio allocations: Value-add multifamily, Hotel to multifamily conversions, Self-Storage and other
- Target return: 8-15%
- Strategy: Income
- Distributions: Quarterly
- Portfolio allocations: DiscountLots.com, Industrial, Shopping Plazas, Multifamily, Storage and other
- Target return: 10-13%
- Strategy: Income & Growth
- Distributions: Quarterly
- Portfolio allocations: Multifamily, Storage, Industrial, Shopping Plazas, Hard Money loans and other
hotels to multifamily conversion
Vivo Bloomington, Bloomington IN
Rentable Building Area 34,300 SF
TGF Investment
Planned Hold Period 24 Month
Target IRR 21.19%
Bigalow Residencies, Ogden, UT
Hotel to multifamily conversion
TOF Investment
Hold Period - 21 Month
Exit IRR = 73%
Winston Salem Apartments,
Winston-Salem, NC
Residence Inn Marriott Hotel to Multifamily conversion
TGF investment
Hold period = 13 Month
Exit IRR ~ 137%
Deal Details
- Investment Date: Sep 2020, invested $1,000,000
- Targeted Hold Period: 4 years
- Sale Date: Dec 2021 (~1 years)
- Targeted IRR to investors: 19%
- Actual IRR to investors: 135%
Mesa Apartments,
Mesa AZ
Ramada Hotel to multifamily housing conversion
TOF Investment
Hold Period = 18 Month
Exit IRR = 58%
Deal Details
- Investment Date: June 2020, invested $500,000
- Targeted Hold Period: 5 years
- Sale Date: Dec 2021 (~1.5 years)
- Targeted IRR to investors: 20%
- Actual IRR to investors: 58%
- Targeted equity multiple 1.92x
- Actual equity multiple 1.97x
Value Add multifamily
Highland Midtown Little Rock, AR
165 Unit Apartment Complex
Planned Hold Period = 4 years
Status - Performing
Reverbend Apartments, Indianapolis, IN
996 Unit Apartment Complex
TGF Investment
Planned Hold Period = 5 years
Value Add Retail
Shoppes at Hawk Ridge
Lake Saint Louis, MO
Value-Ad Retail center
TOF investment
Hold period = 2.5 years
IRR =18.10%
Alafaya Commons, Orlando, FL
Stabilized Retail with strong cash-flow, and some value-add
TOF Investment
Planned Hold Period = 5 years
Status - Outperforming
Funded - June 2018
Value Add SElf Storage
Southgate Self Storage, MI 48195
TOF investment
Rentable Area = 108,979 Sq. Ft
Hold period = 5 years
Target IRR =18.10%
Richmond Heights Self Storage, OH 44143
TOF investment
Rentable Area = 87,475 Sq. Ft.
Hold period = 5 years
Target IRR = 31.3%
Investment in business notes
Greenpoint Ave, Brooklyn NY
1st-lien non-performing commercial loan (NPL) on a new construction mixed-use development
TOF investment
Hold period = 18 days
IRR = 123%
Taipei Court, Flushing, NY
Non-performing loan on new construction of Multifamily complex (27 two-family contiguous townhouses)
TOF Investment
Hold Period = 4 Month
IRR = 22%