Chimney Hill

58-unit apartment community

Chimney Hill
  • The property was acquired 25% below the asking price and well below replacement cost
  • Since the acquisition, NOI increased by more than 170%*
  • Refinancing proceeds returned 100% of initial capital and a substantial tax-free profit*​
  • Chimney Hill is still  100% owned and cash flowing (27.09% cash on cash return to date with all equity capital returned).*

    * Unaudited.  Past performance  is no guarantee

investment-summary.pdf

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Piping Rock has an exclusive contract to purchase Sixth & Race, a trophy property located in the heart of downtown Cincinnati, for $8.145 million.  Piping Rock will invest a minimum of 15% of the equity required to purchase the property, and we are seeking partners to co-invest with us.

After we agreed to purchase the property, multiple major redevelopment projects were announced in the immediate vicinity of the property.    Officials estimate that approximately $500 -$600 million will be invested in just two of these projects alone, both of which are immediately adjacent to Sixth & Race.

PRIME LOCATION

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7.35% NET CAP RATE

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8% CASH ON CASH*

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PRIME LOCATION

Sixth & Race is located in the heart of downtown Cincinnati in a protected infill location.

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*Investment returns are indicative