Property

Vantage at Harlingen Harlingen, TX

Property
Type
Multi-Family
Investment Type
Property
Asset Profile
Value Add
Min. Investment
$50K
Estimated Hold
4-6Y
Target Return (IRR)
20.9%
Target Annual Cash
14.1%
Target Equity Multiple
2.2x
 

Offered By

Presidium Group Elite Sponsor

Austin, TX

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Assets Under
Management

Currently
$882MM
Exited
$327MM
Portfolio LTV
75%
Historical
Realized Returns

Total IRR
40.7%
Equity Multiple
3x
Annual Cash
10%
Years Of
Experience

As Principals
30+ years
In Business
15 years
Size
65 Staff
* All information is reported by Presidium Group as of 6/12/2017.
 

About this Property

Vantage at Harlingen is a 288-unit new construction, best-in-class asset located in Harlingen, Texas. This acquisition represents an excellent opportunity to acquire a luxury community with a full complement of resort-style amenities and features.

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Key Points

  • 10% Preferred Return.
  • Best-In-Market 2015 new construction acquired at a 6.4% Going-In Cap Rate.
  • The property was built subject to rent regulations that terminate upon sale. New ownership will phase out existing discounts and re-lease at market rates.
  • 2 miles from intersection of Interstate 2 and Interstate 69E, providing convenient access throughout the Rio Grande Valley.
  • Immediate access to major employers with more than 42,000 employees - 10 minutes drive from Valley Baptist Medical Center with 4,000 employees and Harlingen CISD with 3,300 employees in the immediate area.
 

Financials

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Location Details

Harlingen, TX

Vantage at Harlingen is a desirable property due to its highly accessible location off Interstate 2 and Interstate 69E, which is a heavily traveled intersection and one of the busiest crossroads in the Rio Grande Valley. The property is within immediate proximity to major employment drivers plus numerous high-end retail, restaurants, and entertainment venues. Vantage at Harlingen has access to nearby retail including Bass Pro Shops, Valle Vista Mall, Target, Walmart Supercenter, and H-E-B. Valle Vista Mall consists of 82 stores including Dillard’s, Sears, JCPenney, and Victoria’s Secret. Valley International Airport is located seven miles from Vantage at Harlingen. This airport is the largest airport in the Rio Grande Valley and serves more than 700,000 passengers annually.

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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 November 2017.

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 US-based 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.

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In the meantime, you can create an account to view detailed information about Vantage at Harlingen.

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

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