"We've received great feedback from investors on this deal". Below you will find a link to view the webinar replay along with the link to our investor portal to create an account and make a soft commitment.
Soft Commitments:
We are currently taking soft commitments for this deal. Please click the button below for access to make a soft commitment. We will notify all investors who made a soft commitment once the PPM docs are ready. This is a 506c offering available to accredited investors only. The offering is available on a first to fund, first served basis. Closing is scheduled for 10/28.
Investment Highlights
We were able to secure the opportunity off market. There was not any competition as our offer was unsolicited to the seller. We were able to secure the offering at an exceptional basis of approximately $106k/unit. Institutional owners have entered the market over the last couple years. Pricing for newer construction (2010+) assets have been trading $220- $225k/unit. Our basis is insulated and well below replacement costs. Furthermore, we are meaningfully below trades in the market recently for similar vintage assets.
Members of the GP currently own 458 units in this market across 3 assets. The 3 assets were purchased in April of 2022 and since acquisition we have traded out approximately 114 units. On those 111 units, we have seen an average increase in rent of 19%. These figures are without having renovated any of the units. The deal profile is very similar, and we expect similar if not greater success plus significant premiums beyond through a comprehensive renovation program.
There are multiple rental comps in the immediate vicinity already achieving our year 2 - 3 proforma rents today. In particular, Lake Claire Apartments (built in 1974) has current asking rents of $1,138 on an 815 average unit size. Village Gate (built in 1973) has current asking rents of $1,165 on an 810 average unit size. Briarwood was built in 1970 and the rent roll currently averages $781. Village and Lake are two of the closest properties to Briarwood.
Briarwood has an exceptional location within the Fayetteville market. It is down the street from Cape Fear Valley Medical Center, the major hospital within the market. An opportunity exists to improve the asset to appeal the high earning medical community. The property has excellent visibility located on heavily traveled Owen Drive.
We have an exceptional management company for the assignment with Apartment Dynamics. They currently manage the existing portfolio and have been able to execute the business plan very well. Furthermore, our team has hired a District Operations Manager based out of Eastern NC who will be our boots on the ground day to day.
What should you do next?
Click the “Invest With Us” button anywhere in this email. This will bring you to our investor portal, Cash Flow Portal. Here is where you can view the Recorded Webinar, Investor Deck and other key information.
If you already have an account with Cash Flow Portal, simply login using your existing username and password.
If you are new to Cash Flow Portal, you will enter your info to set up a new account. We have included a tutorial video link below to help you with this process.
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How to make a soft commitment after you login into your account:
Click the soft commit button on the top right corner of the screen.
Select Profile > Create New Profile > Select Profile Type
Fill out which profile type you plan on investing with and click next
Fill in your anticipated investment amount
We will notify you as soon as the investor docs are ready and the investor portal is open to firm commitments.
Important Investor Timeline
10/6 - Live Webinar
10/10 - Webinar Recording Available / Soft Commitments 10/12 - Investor Docs Ready / Firm Commitments 10/17 - Investor Docs Due
10/21 - Funding Deadline
10/28 - Closing Date NOTE: This offering is a SEC Reg D 506(c) offering available to accredited investors only. The offering is available on a first to fund, first served basis. We anticipate this offering to fill up quickly. Please be sure to have your third party verified accreditation letter ready.
If you have any questions or if there’s anything we can help clarify, please contact our Investor Relations team at InvestorRelations@TheKinglyGroup.com or reply to this email.
We look forward to partnering with you!
Thank you,
Ronny Philip and The Kingly Group
The Kingly Group, 18333 Preston Road, Suite 100, Dallas, Texas 75252, United States
*The above information are the opinions of the Kingly Group and not MultifamilyRealEstate.com its associates, partners, executives or investors. Always do your due diligence before making any investment. Always consult a professional Attorney, CPA or CFP prior to making any investment decision. This page or website does not contain any investment advice and is merely to be used as informational and entertainment purposes.
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