Equity investors - 16%+ 7 year return on 74 unit multi-family syndication Cincinnati, OH

[Chris Winterhalter]

Fellow BiggerPockets investors, we are seeking equity funding on an upcoming syndication for a 74 unit apartment complex in Cincinnati we have under contract.  It's a solid C class deal in a good neighborhood of Pleasant Ridge, Cincinnati (near Oakley/Norwood).  The deal wasn't listed and was secured through a local broker.  The down and dirty details are listed below...

-Acquisition - 1.6MM

-Hard & soft costs - 800k - major cosmetic renovation needed to push up rents, all in costs just over 32k/unit

-Preferred return of 8% with a 60/40 split, strong annual cash flow returns in the double digits.   

-5-7 year hold period - this is a long term cash flow play with some potential for appreciation with continued market growth (around the submarket surroundings)

-Rent Increase Opportunity - The offering spells out the rental comps, I believe with the right renovation (& opening up the floor plan) we can push rents closer to our well managed competitors.  

-Experienced Team - We own 118 units currently without outside investors.  We are looking to grow our portfolio.  We are experienced with C class apartment rentals and reposition projects.  Two of the three partners have a hotel construction company with a strong reputation in renovation.  

-Personal Guarantee - Myself and my two partners will be signing the personal guarantee 

The full offering can be downloaded from the following link...

https://www.dropbox.com/s/f9fnuxjqqiqog1l/Williams...