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Lennon Lee
  • Rental Property Investor
  • Miami, FL
292
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384-Unit Multifamily Investment Opportunity in Florida

Lennon Lee
  • Rental Property Investor
  • Miami, FL
Posted Jun 13 2019, 11:17

We have a new investment opportunity in Daytona Beach, FL, a 384-unit multifamily value-add deal.

This is a 506(c) offering, so that means it can be advertised to the general public. That's why I'm excited to be able to share it with you all.

This is actually a great chance to partner up with us and get access to our curated network of major players in the multifamily real estate space.

For this deal, we're partnering up with Lloyd Jones LLC -- one of the top multifamily operators in the Southeast.

With $500m+ assets under management, Lloyd Jones has historically only accepted investments from institutional partners.

But because of the relationship we have built with them over the past few years, we can open this offer to individual investors.

However, it is limited to accredited investors only.

With that said, let’s jump in...

Project Highlights:

  • Portfolio consists of two adjacent properties: Jade Park (144 units) and Lake Forest (240 units). Now operating as one: Lake Forest Apartments (384 units).
  • Class B asset built in 1985/87
  • $2m+ interior and exterior capital improvement plan, projecting a conservative $43 rent premium after implementation
  • Top class sponsor team with 40+ years multiple real estate cycles experience, and $500m+ assets under management
  • Vertically integrated operating partner with in-house property management team and nearly 900 units under management within a 4 mile radius (high management efficiency)
  • General Partners personally investing north of $900k into the deal or 10% of the total equity (substantial GP/LP alignment of interest)

The Numbers:

  • Average Cash-On-Cash return: 8.4%
  • Average Annual Return: 19.8% (including proceeds from the sale)
  • Equity Multiple: 2.4x
  • IRR on a 7 year hold: 15.3%
  • Min Investment: $50,000
  • Funding Due Date: July 10, 2019 (first come, first served basis)
This deal has already been offered to our preferred list of BLD Club members, and will fill up quickly.

If you are interested in joining us, you'll need to reserve your spot in the deal as soon as possible.

The reservation is a "soft" commitment, so no money is changing hands and no legal arrangements are being entered at this point. We just need to know that you are serious.

You can check out all the details, and access the investment summary, HERE.

Once there, fill out the form at the bottom to reserve your spot
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