Property

Village Square Apartments Lafayette, IN

Property
Type
Multi-Family
Investment Type
Property
Asset Profile
Value Add
Min. Investment
$50K
Estimated Hold
5-7Y
Target Return (IRR)
23.5%
Target Annual Cash
12.9%
Target Equity Multiple
1.83x
 

Offered By

James Management Group Experienced Sponsor

Carmel, IN

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Assets Under
Management

Currently
$71.65MM
Exited
$33MM
Portfolio LTV
62%
Historical
Realized Returns

Total IRR
20.5%
Equity Multiple
1.62x
Annual Cash
10.2%
Years Of
Experience

As Principals
30+ years
In Business
16 years
Size
8 Staff
* All information is reported by James Management Group as of 5/8/2017.
 

About this Property

Village Square Apartments is an opportunity to invest in the recapitalization of an asset that James Management has already owned for the past ten years, producing a strong and steady cash flow during that period of time. Upon completion of this recapitalization, James Management will spend approximately $4k per unit in revitalizing the exterior and interior of the property, including new dual pane windows. These improvements will allow for increased rental rates, which the market has already shown it is able to absorb. This rehab plan is forecasted to take approximately 90 days to complete, with the exception of some minor, continual interior upgrades that will take place as units are turned over for re-leasing.

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Key Points

  • Strong Market: Lafayette is a strong secondary market, comprised of both white collar and blue collar workers with average household incomes of $55,000.
  • Trusted Management: The existing management team already possesses the valuable relationships with the current tenants, having kept the occupancy at an average of over 93% over the past decade.
  • Well Located: This asset is 100 yards off the busiest freeway from Indianapolis to Chicago, and is only 45 minutes from Indianapolis and 10 minutes from Purdue University.
  • Recently Upgraded: Village Square has already received a remodeled pool and deck, new work out center, and upgraded clubhouse, which will be complimented by the individual room planned upgrades once this recapitalization is complete.
 

Financials

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Location Details

Lafayette, IN

The property is located just off South Street and I-65, Indianapolis’ primary North/South thoroughfare with direct access to Chicago. Lafayette is a high traffic, low crime region with easy access to Purdue University at only 5 miles from the subject property. Village Square prospers from the businesses and workers that rely on their proximity to one of the nations premier Universities.

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Documents

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Frequently Asked Questions

Below are some of the most frequently asked questions about this offering.

The first projected distribution is scheduled for October 2017.

Distributions are scheduled to go out on a quarterly basis.

No, this offering is only available to US residents.

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Have a Question?

Send James Management Group and/or RealCrowd a message. If you have a question about this offering ask James Management Group. If you have a question about the transaction process or other general inquiry, RealCrowd will be happy to help.

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In the meantime, please review the offering documents and financials.

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