Fund I Portfolio
The Waterford
Description
A 283-unit, Class A multifamily apartment development in Austin, TX, the #2 market for the ULI Emerging Trends ranking for 2021.
The Property is fully entitled, and demolition permits have been issued. Upon stabilization, the Property is expected to be sold at the end of the 3rd year at $80.493M, at an implied 4.8% capitalization rate.
Details
Target Equity Multiple: 1.7x
Target IRR: 21%
Deal Type: Opportunistic
Asset Type: Multifamily
Sponsor: Presidium Group
Target Investment Period: 3 years
