Property Details
NOI Growth  Ground-Up Development 
Asset Profile
Opportunistic

Presidium at Berkshire

Fort Worth, TX

Multi-Family Property
Presidium Group Dallas, TX
Presidium Group
  • IRR 20.92%
  • Equity Multiple 2.13x
  • Hold Period 4Y
  • Minimum Investment $25K
  • Year 1 Cash on Cash 0%
  • Stabilized Cash on Cash N/A
  • First Distribution Sep 2022
  • Distribution Frequency Quarterly
  • Co-Investment 10%
  • Preferred Return 8% IRR
  • Investor Profit Share See Financials
  • Asset Profile Opportunistic
  • Loan-to-Value 80%
  • Current Occupancy 0%

About this Property

"Class-A , 340-unit, Multifamily in an emerging suburb of North Fort Worth. This 3 and 4 story garden-style apartment complex will offer luxurious units and top-of-market amenity spaces."

-Emma Griffiths, Presidium Group

Address Blue Mound Rd & US-81 Service Rd
Square Footage 342,446 Gross Building SF
304,777 Net Rentable SF
# of Units 340
Price/Sq. Ft. $7.06
Total Project Cost $59,441,870
Stabilized Loan to Value 60%
Market Occupancy 95.0%

Top Questions

All answers are provided by the sponsor, Presidium Group, or its representatives.

 

Why are you buying this property?

Emma Griffiths, Presidium Group: "Presidium wishes to develop this property primarily because of the attractiveness of the Fort Worth market, and the shortness of supply of multifamily permitted sites in the market. Fort Worth has received numerous business and lifestyle awards and is experiencing major population and job growth. With 300 people moving to DFW a day, Presidium is confident that the demand for housing in Fort Worth is ever increasing. However, the Berkshire site is one of the last sites in the area permitted for multifamily. With limited multifamily permitting planned in the future, the Berkshire site will have a major advantage in this supply constrained market. Presidium also currently has another multifamily property, Revelstoke, under construction just across the street from the Berkshire site. Therefore, Presidium is already very confident in the location of the site, the market as a whole, and the fact that both properties will be superior to their competitor set."

 

What are the most important aspects of this investment opportunity for the investors?

Emma Griffiths, Presidium Group: "Presidium has invested in the Fort Worth market for nearly 15 years, and has a great understanding of the area surrounding the project. Presidium at Berkshire will offer high-quality, large units with fantastic amenity spaces and elevators in every building. Presidium's project is a step above the competition, and also, at a competitive price point. Finally, Fort Worth is under a tremendous amount of job and population growth. Presidium at Berkshire is well positioned to take advantage of the continued growth as one of the last sites in the area permitted for multifamily."

 

What is your investment strategy/business plan for the Property?

Emma Griffiths, Presidium Group: "The objectives of the business plan generated by the General Partner are to:"

  1. "Obtain title to the Development Site;"
  2. "Construct a 340-unit Class "A" market-rate multifamily apartment complex within 24 months after commencement of construction;"
  3. "Lease up and stabilize the Property occupancy to 95% occupancy approximately 37 months after commencement of construction; and"
  4. "Sell the property in approximately the fourth year of ownership."

"Presidium is confident that the project will have immense value upon sale due to the projected growth of Fort Worth, along with the multifamily supply constrain previously described. Buyers will also find value in the superior unit-finish outs, amenity spaces, air-conditioned corridors, and elevated buildings planned for the Berkshire site."

 

How has COVID-19 impacted your business plan?

Emma Griffiths, Presidium Group: “COVID-19 has ensured that now, more than ever, people are spending a greater amount of time at home. With work-from home policies, online schooling, and social-distancing, there is an increase in demand for high-quality living spaces. COVID-19 has not negatively impacted our business plan, but rather has assured us that a luxury, high quality home with ample space, is even more desirable than it was in pre-COVID times.”

 

What are the risks and how are you mitigating those risks?

Emma Griffiths, Presidium Group: "Three major risks that must be addressed when considering a new development are site risk, zoning risk and lease-up risk. With respect to site risk, Presidium has engaged in extensive due diligence to ensure the site can be built upon efficiently, reasonably and safely. Since the site is already zoned to multifamily for this deal, there is no zoning risk. Lastly, to mitigate lease-up risk, Presidium is using their own in-house management team (Presidium Property Management). By the time this project will be going through lease-up, the management team will have already brought five other projects up through stabilization. With 13,000 units already under management, Presidium is confident in their management abilities."

NOTE: All answers provided by the sponsor, Presidium Group, or its representatives.

About this Property

"Class-A , 340-unit, Multifamily in an emerging suburb of North Fort Worth. This 3 and 4 story garden-style apartment complex will offer luxurious units and top-of-market amenity spaces."

-Emma Griffiths, Presidium Group

Address Blue Mound Rd & US-81 Service Rd
Square Footage 342,446 Gross Building SF
304,777 Net Rentable SF
# of Units 340
Price/Sq. Ft. $7.06
Total Project Cost $59,441,870
Stabilized Loan to Value 60%
Market Occupancy 95.0%

Top Questions

All answers are provided by the sponsor, Presidium Group, or its representatives.

 

Why are you buying this property?

Emma Griffiths, Presidium Group: "Presidium wishes to develop this property primarily because of the attractiveness of the Fort Worth market, and the shortness of supply of multifamily permitted sites in the market. Fort Worth has received numerous business and lifestyle awards and is experiencing major population and job growth. With 300 people moving to DFW a day, Presidium is confident that the demand for housing in Fort Worth is ever increasing. However, the Berkshire site is one of the last sites in the area permitted for multifamily. With limited multifamily permitting planned in the future, the Berkshire site will have a major advantage in this supply constrained market. Presidium also currently has another multifamily property, Revelstoke, under construction just across the street from the Berkshire site. Therefore, Presidium is already very confident in the location of the site, the market as a whole, and the fact that both properties will be superior to their competitor set."

 

What are the most important aspects of this investment opportunity for the investors?

Emma Griffiths, Presidium Group: "Presidium has invested in the Fort Worth market for nearly 15 years, and has a great understanding of the area surrounding the project. Presidium at Berkshire will offer high-quality, large units with fantastic amenity spaces and elevators in every building. Presidium's project is a step above the competition, and also, at a competitive price point. Finally, Fort Worth is under a tremendous amount of job and population growth. Presidium at Berkshire is well positioned to take advantage of the continued growth as one of the last sites in the area permitted for multifamily."

 

What is your investment strategy/business plan for the Property?

Emma Griffiths, Presidium Group: "The objectives of the business plan generated by the General Partner are to:"

  1. "Obtain title to the Development Site;"
  2. "Construct a 340-unit Class "A" market-rate multifamily apartment complex within 24 months after commencement of construction;"
  3. "Lease up and stabilize the Property occupancy to 95% occupancy approximately 37 months after commencement of construction; and"
  4. "Sell the property in approximately the fourth year of ownership."

"Presidium is confident that the project will have immense value upon sale due to the projected growth of Fort Worth, along with the multifamily supply constrain previously described. Buyers will also find value in the superior unit-finish outs, amenity spaces, air-conditioned corridors, and elevated buildings planned for the Berkshire site."

 

How has COVID-19 impacted your business plan?

Emma Griffiths, Presidium Group: “COVID-19 has ensured that now, more than ever, people are spending a greater amount of time at home. With work-from home policies, online schooling, and social-distancing, there is an increase in demand for high-quality living spaces. COVID-19 has not negatively impacted our business plan, but rather has assured us that a luxury, high quality home with ample space, is even more desirable than it was in pre-COVID times.”

 

What are the risks and how are you mitigating those risks?

Emma Griffiths, Presidium Group: "Three major risks that must be addressed when considering a new development are site risk, zoning risk and lease-up risk. With respect to site risk, Presidium has engaged in extensive due diligence to ensure the site can be built upon efficiently, reasonably and safely. Since the site is already zoned to multifamily for this deal, there is no zoning risk. Lastly, to mitigate lease-up risk, Presidium is using their own in-house management team (Presidium Property Management). By the time this project will be going through lease-up, the management team will have already brought five other projects up through stabilization. With 13,000 units already under management, Presidium is confident in their management abilities."

NOTE: All answers provided by the sponsor, Presidium Group, or its representatives.

Offered By

Login or Register to See More Details

Available to Registered Users

  • Get to know the sponsor behind the offering with key information
  • See an overview of their experience and success
  • Understand their investment strategies
  • Easy access to contact the sponsor directly to learn more
Assets Under
Management

Currently
$2B 40+ assets
Exited
$852MM 50+ assets
Portfolio LTV
75%  
Historical
Realized Returns

Total IRR
41.3%  
Equity Multiple
2.9x  
Annual Cash
10%  
Years Of
Experience

As Principals
30+ years  
In Business
18 years  
Size
65 Staff * Dedicated investor relations
* All information is reported by Presidium Group as of 8/31/2020.
Assets Under
Management

Currently
$2B 40+ assets
Exited
$852MM 50+ assets
Portfolio LTV
75%  
Historical
Returns

Total IRR
41.3%  
Equity Multiple
2.9x  
Annual Cash
10%  
Years Of
Experience

As Principals
30+ years  
In Business
18 years  
Size
65 Staff * Dedicated investor relations
* All information is reported by Presidium Group as of 8/31/2020.

Financials

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

Sponsor Diligence Report

Login or Register to View Report

Available to Accredited Investors:

  • View principal experience
  • Review background check results
  • Track record verification
Diligence Preview

Location Details

Fort Worth, TX

Emma Griffiths: "Presidium's 340-unit Berkshire multifamily property is located at the corner of Blue Mound Road and US-81 Service Rd in North Fort Worth, Texas. This site is just minutes from Alliance Town Center, a bustling 26,000-acre master planned community featuring a plethora of office, retail, and entertainment options for Berkshire's future residents. Fort Worth as a whole is a booming market, experiencing a population growth rate of 17% from 2010-2019 (compared to 5% nationally) and an annual employment growth rate of 3.0% (compared to 1.6% nationally). This trend of companies moving from dense cities to more sprawling submarkets is expected to continue into the future. Overall, Presidium is confident that the market will be able to efficiently absorb the units delivered at a predicted market rent of $1.70/SF."

Documents

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.

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 Presidium Group and/or RealCrowd a message. If you have a question about this offering ask Presidium Group. 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 Presidium at Berkshire.

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

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