Who here invests as an LP in ground up multifamily construction deals?

[Account Closed]

I am working for a sponsor who is raising capital for 2 ground up multifamily development projects. One is in DFW and the other is in New Braunfels. It seems like though they are great investments, though there are not too many people who actually dive into a private placement like this. 

Would be interested in hearing your thoughts on getting into deals like ours. 

[Jay Hinrichs]

Quote from @Nick B.:

I invested in a new apartment development in DFW at the end of 2019.

Then Covid happend. The prices of everything went up. The project was delayed and re-budgeted. Then interest rates went up...

Long story short, it was foreclosed in the beginning of June this year resulting in a total loss to investors like myself. 

And there you have it in a nutshell the risk of MF ground up..  Like in PDX from start to first tenant is going to be 2.5 to 3.5 years a lot can happen in that time frame..