Updated over 6 years ago on .
Value-add Coastal Southern California Investment
LMDG Real Estate Value Fund II, LP has acquired three assets and our pipeline is strong.
Our 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 fund also includes a 9 unit building in West Hollywood and an 11 unit building in Alamitos Beach .
The renovation is complete and units are renting up.
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 and boardwalk.
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.
Best,