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Tom Ott
  • Equity Raiser and Turnkey Provider
  • Cleveland, OH
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Smartland Fund 16 - 7% Preferred Return / 17% IRR

Tom Ott
  • Equity Raiser and Turnkey Provider
  • Cleveland, OH
Posted Jan 13 2021, 09:32

Past performance or projections may not be indicative of future results; there is no assurance that objectives will be met.

Executive Summary

The 800 Place Apartments* is a conveniently located apartment community minutes from Cleveland, Ohio, with immediate access to some of the largest employers in the area. Over the past decade, the apartment community has been mismanaged resulting in deteriorating units that suffer an array of maintenance and infrastructure issues that have turned into a unique, low risk, high reward, value-add opportunity that requires a hands-on operator to maximize the value of this asset. With many attractions and employment opportunities within a short drive of The 800 Place Apartments, this property possesses all of the traits necessary to rebuild a once flourishing multifamily community.

A comprehensive $18,000,000 capital improvement program will be implemented upon acquisition and will include customary high-quality SMARTLAND unit improvements including new luxury vinyl flooring, modern kitchen cabinets, stone countertops, Alexa enabled smart units, stainless steel appliances and remodeled bathrooms. Along with the newly renovated and upgraded units, SMARTLAND will also make renovations to the multiple parking garages, roofs, boilers, elevators, and lighting.

Capital Request

To execute the planned resurgence of The 800 Place Apartments, SMARTLAND is seeking $10,698,137 in equity investment from Accredited Investors. The investor terms are as follows:
  • 7% - Class A Preferred Return
  • Minimum Investment: $250,000
    • 80/20 Equity Split until 15% Net IRR
    • 70/30 Equity Split after 15% Net IRR is achieved
  • 9% - Class B Preferred Return
  • Minimum Investment: $1,000,000
    • 80/20 Equity Split

This offering is for accredited investors only. Investment in the fund will require third party verification of accreditation status.


Schedule a Call With Me to Learn More!
This communication is intended solely for accredited investors as such is defined in the Securities Act, and is not intended as an offer to sell, or the solicitation of an offer to buy any securities or ownership interests. Past or projected performance does not guarantee or predict future results; all projections and estimates contained herein are subject to change any time without notice. This investment opportunity may not be available in all states.

*800 Place Apartments* is a placeholder name of the target property that will be disclosed at a later date. At this time, the actual property name is confidential
Smartland and its affiliates and employees are not registered, investment advisers or financial planners. Smartland does not render legal or financial advice. If you are seeking legal or financial advice, please consult a legal or financial adviser. You should always complete your own independent due diligence prior to funding projects you are interested in funding.
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