Fund II Open - Investor IRR target of 15% - 18% 3rd Property Acq
LMDG Real Estate Value Fund II, LP has acquired three assets with a fourth in escrow and renovation has begun. The first investment 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 renovation is near completion with the first tenant moved in. For additional information, check out our current projects.
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.
We'll be closing the first round of the fund at the end of August.
Best,