600+ Unit Deal LOI Signed
I am happy to report that a 600+ unit apartment complex I am working on, the seller finally signed the LOI (letter of intent).
Next phase is to hammer out the PSA (purchase and sales agreement).
Once the contract is inked, due diligence will start.
Anticipated closing is 9/30/16.
Equity raise for passive accredited investors will be $15 million.
This deal isn't a wholesale deal.
It will be a syndication and I have done 3 already. You can check out my latest acquisition, a 240 unit deal: Just Closed a 240 Unit Apartment Complex.
Like the 600+ unit multifamily deal, I believe Apartment Investing is the IDEAL investment that produces:
- I - Income
- D - Depreciation
- E - Equity
- A - Appreciation
- L - Leverage
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