We are thrilled to share an incredible investment opportunity with re-viv. Our focus is on transforming a distressed office building into 52 apartments in the coveted Capital Hill neighborhood. This project will feature a diverse unit mix, including thirty-six (36) beds of co-living, our flagship operating niche. Additionally, there will be around 4,800 square feet of retail or co-working space on the ground floor. Converting this space into residential use could increase our unit count by at least three to six units, providing additional income not currently included in the estimated projected returns. The basement area, spanning approximately 3,200 square feet, will have ample storage and a gym, opening up additional revenue opportunities. Furthermore, we will have twenty-one (21) underground and fifteen (15) covered parking spaces.
This project will not require rezoning, saving over a year in the project timeline while significantly reducing associated entitlement risk. We anticipate closing by November 20th, 2024, with construction beginning shortly after. The 1390 Logan project is part of our ongoing strategy to acquire distressed office buildings in high-demand locations where young professionals seek affordable living spaces. The project will be our fourth office-to-residential conversion and the third in the Denver market.
We look forward to discussing this opportunity further and exploring how you can join this thrilling venture.
No other developer can deliver newly renovated product at the bottom 30% of the rental market without a subsidy
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Year 1 | Year 2 | Year 3 | Year 4 | Year 5 | |
---|---|---|---|---|---|
Equity Balance | ($100,000) | ($100,000) | ($100,000) | ($87,155) | ($87,155) |
Makeup to LP on 8% Pref (Refi) | - | - | $18,048.94 | - | - |
Return of Equity (Refi) | - | - | $12,844.51 | - | - |
Distribution to Investor (Cash Flow) | - | - | $5,951.06 | $4,453.96 | $5,150.35 |
Distribution to Investor (Sale) | - | - | - | - | $155,550.20 |
Total Distributions to Investor | - | - | $36,844.51 | $4,453.96 | $160,699.72 |
Cash on Cash Return | 5.95% | 5.95% | 5.95% | 5.11% | 5.91% |
Net Equity Multiple | 1.97x | ||||
NET IRR | 16.03% |
*Accredited Investor Criteria:
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