Eagle Ridge Apartments

Monroeville, PA

  • Target Annual Cash 9.9%
  • Target IRR 16.6%
  • Target Equity Multiple 2.3x
  • Asset Profile Core Plus
  • Minimum Investment $50K
  • Estimated Hold 6-7Y

This deal is oversubscribed

Join Wait-List
Merion Realty Partners Wynnewood, PA

Multi-Family Property

About this Property

Eagle Ridge is a Class-B, 352 unit, garden style multifamily community that was constructed in 1989. The community is located in Monroeville, PA which is a suburb of Pittsburgh. Eagle Ridge Apartments offers investors an opportunity to acquire a well located and stable community with quantifiable value add opportunities via:

  • Unit interior upgrades.
  • Clubhouse and leasing center remodel.
  • Property amenity upgrades.
  • Professional management by Merion Residential, an affiliate of Merion.

The community was constructed in 1989, is in good physical condition, very well located, has a solid resident base and has experienced 97% occupancy over the past seven years. Current ownership has invested $4.6 million since 2010 in a number of asset preservation measures and value add enhancements and offers an excellent opportunity for Merion to further improve. Merion’s business plan focuses on further improving the physical asset including a light remodel of the clubhouse, leasing center, pool area and amenity package. Only 93 units have been upgraded thus far and based upon the success of this program, Merion has underwritten continued renovations during the hold period using Merion's Simply Modern upgrade program.

Read more Read less

Key Points

  • Eagle Ridge Apartments has a very good reputation within the market and is the second most recently constructed multifamily community in the submarket. Barriers to entry for new apartment stock is high and there are no known new apartment developments in this market.
  • Eagle Ridge competes with older, functionally obsolete apartment product that do not offer many of the amenities and services available at Eagle Ridge.
  • Eagle Ridge has washer dryers in every unit, individual HVAC and hot water heaters, a spacious site plan and best in market amenity package that positions the property to be the market leader during the investor hold period. Merion will improve the already successful interior upgrade program and will bring best management practices to further differentiate Eagle Ridge as the market leader relative to its competition.


Login or Register to View Financials

Available to Accredited Investors:

  • Get an overview of important financial details to make a smarter investment
  • Analyze the financial pro forma to see how projected returns are distributed over time
  • Review source and uses and other important details
Offering Financial

Location Details

Monroeville, PA

Monroeville is a suburb of Pittsburgh and is located at the crossroads of several major North and South, East and West highways which have historically been the primary driver to Monroeville's continued development. Monroeville's employment drivers include a regional mall and a retail corridor, Allegheny Health Network's Forbes Hospital which has 315 beds and the 2012 newly constructed University of Pittsburgh Medical Center Hospital (UPMC) which has 156 beds and surgical center.

Occupancy within the Monroeville has historically been in the mid to upper 90% range the area has major barriers to entry for new apartment product.

Read more Read less


Login or Register to View Documents

Available to Accredited Investors:

  • View, download, and print the offering PPM (Private Placement Memorandum)
  • View, download, and print the detailed financial projections
  • Access all of the important documents for this offering in one place
Offering Agreement Documents

Frequently Asked Questions

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

The first projected distribution is scheduled for June 2018.

Distributions are scheduled to go out on a quarterly basis.

No, this offering is only available to US residents.

RealCrowd is free for investors. RealCrowd charges a technology access fee to the operating partner for our services. We do not charge investors any upfront fees, ongoing asset management fees or promote/carried interest in the investments.

RealCrowd offerings are open to accredited investors. RealCrowd does not recommend or advise on any offering on our platform. While we have minimum history and experience threshold for sponsors who post on our platform, if you are unable to perform your own due diligence, please consult with an attorney or financial advisor prior to making an investment.

RealCrowd is a marketplace that connects investors with qualified sponsors. We strive for transparency and impartiality. For this reason, we do not participate in any offerings on our site.

Have a Question?

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

Please resolve the captcha and submit.

We'll get back to you soon!

In the meantime, you can create an account to view detailed information about Eagle Ridge Apartments.

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

Signup for our free 6 week course on the fundamentals of commercial real estate investing.