Multifamily Closed

$8.15M Acquisition Closed!

Ladies and Gents, I am very excited to announce that we just closed on The Silver Tree, a 98-unit value add in Phoenix MSA. This was an $8.15M acquisition, requiring a $1.3M renovation. The asset was constructed in 1984, with a great unit mix of Studio, 1×1, 2×1, and 2×2.

This was a private placement with a $3.5M equity raise, and we were able to project a 27% IRR on a 3-year, 17% on a 5-year, and a 14.5% on a 10-year hold. Berkadia facilitated the bridge debt and will execute the refinance into GSE.

Feel free to reach out for more details, or go to this page.

Thank you,

Ben

10 Comments

    • Ben Reply

      Thanks, Adam!

  • Ask Cathryn Reply

    That’s fantastic Ben! Congratulations!

    • Ben Reply

      Thank you, Cathryn!

  • Diana Reply

    Congratulations Ben! I’m continuing to work through CFFU and drilling down on the analytical part of real estate! Thanks Ben! Diana

    • Ben Reply

      Thanks so much, Diana! Feel free to reach out 🙂

  • Jason Mittenzwey Reply

    Congratulations!! That’s amazing

    • Ben Reply

      Thanks, Jason. It’s pretty fantastic!

  • brian jones Reply

    Congradulations Ben, Good Job

    • Ben Reply

      Thank you, Brian!

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