IRR target 15% - 18% SoCal Coastal Properties Multi-Family

[Aaron Merriman]

LMDG Real Estate Value Fund II, LP has acquired its first two assets with a third in escrow and renovation has begun. The first property is an 8 unit value-add apartment building located in Alamitos Beach (Long Beach, CA). The property was acquired at approximately 60% of replacement cost and is operating at rents 40% below market.

The property is located near Long Beach's Retro Row and Bixby Park and a short walk to the sand.

For more information, download our flyer which outlines the strategy of the fund, track record, fund structure, and projected returns.

The target return for the fund is 15%-18% net IRR based on past performance.