New Preferred Equity Offering: Building on Success

Sign up below to receive details on a new Preferred Equity we will be issuing within the next few weeks. The  Preferred Equity proceeds will be  invested in an exterior and smart home technology upgrade program for  a stabilized 58-unit multifamily asset we have owned and managed for almost 20 years.

This is a  performing asset and the combined senior mortgage and Preferred Equity Debt Service Coverage Ratio ("DSCR") will be in excess of 1.35x. The combined senior mortgage and Preferred Equity loan to value ratio ("LTV") will be under 75%, based on a 2023 lender appraisal.

100% of the Preferred Equity proceeds will be invested in accretive exterior and smart home technology upgrade program designed to increase curb appeal, occupancy, and rents.

Terms are expected to be as follows:

  • 10% cumulative Preferred Return (5% current pay, 5% deferred )
  • 3 year  term
  • Non-prepayable for 18 months

Current:

Multifamily Preferred Equity Offering

Proposed:

Multifamily Preferred Equity Offering

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