Available to Registered Users
Acquire an off-market 130-unit garden-style apartment community for $9,300,000 or $71,500/unit. The property, which has been owned and self-managed by the same ownership group for 5 years, is currently 98% occupied and is undercapitalized and undermanaged. The seller replaced significant portions of the infrastructure such as new cooling system, unit interiors and windows. There is a significant opportunity to reposition the property to maximize its value. It is the ideal acquisition profile target for Sterling Real Estate Holdings. The existing cap rate is 5.00% based on historical income and normalized expenses. There is embedded value in under market rents and a premium to reposition the property.
The property was not broadly marketed for sale, and the pricing was negotiated directly with the seller.
Available to Accredited Investors:
Summerhill sits on 2.6 acres over 8 buildings in a rapidly-improving sub-market. Built in 1970, the asset benefits from its location near the convergence of SR-51 (Piestewa Freeway), Loop 202 (Red Mountain Freeway) and Interstate 10. It is approximately one block northeast of the intersection of East Thomas Road and State Route 51.
Available to Accredited Investors:
Below are some of the most frequently asked questions about this offering.
The first projected distribution is scheduled for March 2018.
Distributions are scheduled to go out on a quarterly basis.
Yes, non-US residents are welcome to apply.
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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.
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Send Sterling Real Estate Holdings and/or RealCrowd a message. If you have a question about this offering ask Sterling Real Estate Holdings. If you have a question about the transaction process or other general inquiry, RealCrowd will be happy to help.
In the meantime, you can create an account to view detailed information about Summerhill Apartments.
In the meantime, please review the offering documents and financials.
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Thank you for your interest in this commercial real estate investment offering. Unfortunately, SEC regulations prevent us from allowing you to invest at this time.Go Back
Remember that RealCrowd or the third parties offering securities through this site will verify your Accredited Investor status upon making an investment.
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RealCrowd is excited to announce a new classification system for sponsors that utilize our platform. Historically we have included all qualified sponsors in one class based on meeting our minimum thresholds of experience, both in time as a principal in the real estate business as well as portfolio and transaction value.
The new classification system of sponsor qualifications aims to further increase the amount of opportunities investors will have access to and provide more information as to the qualifications of the sponsorship.
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