Birch Lane Townhomes
Birch Lane Townhomes
Total Invested
$800,000
S
FMV
$1,000,000
as of Sep 30, 2026
S
Unrealized P&L
$200,000
C
Capital Stack Breakdown
| Component | Amount | Tag |
|---|---|---|
| Initial Investment Components | ||
| Initial Cash | $800,000 | S |
| = Initial Investment | $800,000 | C |
| Capital Activity | ||
| = Total Invested Capital | $800,000 | C |
| Hale Share (90.0%) | $720,000 | C |
Scope
One investment row (#1013) — no sibling rows carry this deal name.
Workbook ledger through Oct 1, 2026, QBO after it.
Only postings in a distribution or capital-deployment account appear; ordinary GL activity does not.
Contributions
$-800,000
1 postings · capital contribution + loan
Distributions
$0
operations + capital + synd
Cash In / Out
$0 / $-800,000
by sign, ignoring the bucket
Net
$-800,000
1 postings
✓ Foots to the Total Returns KPI — the rows below add to
$0. Both figures count the same postings, so this
checks the itemisation —
nothing dropped, nothing counted twice — not the figure itself.
| Date | Ledger | Bucket | Category | Type | Num | Payee | Memo | Class | Entity | Inv # | Amount |
|---|---|---|---|---|---|---|---|---|---|---|---|
| 06/03/2025 | Workbook | Investments | Capital Contribution | Check | 69691 | Cedar Ridge Mgmt Co | Initial investment | HLP | Harbor LP | 1013 | $-800,000 |
| Total (1 postings) | $-800,000 | ||||||||||
Ownership Metrics
| % of Deal Owned by Legal Entity | 100.0% |
| Ownership % per OA | 100.0% |
| Best Available Ownership % | 100.0% |
| Effective Deal Ownership % | 100.0% |
| % of Investor Owned by Hale | 90.0% |
| % of Deal Owned by Hale | 90.0% |
Entity Chain (2 tiers)
Tier 1
Harbor LP
Ownership
100.0%
↓
Tier 2
Northwind Family LP
Ownership
90.0%
No distributions recorded for this investment.
Performance History
| As Of Date | Total Returns | Lifetime ROI | Annualized ROI | IRR | Equity Multiple |
|---|---|---|---|---|---|
| Historic snapshots, last written Sep 30, 2026 — not the live figures shown above. Some early rows carry values that were never right; they are kept as a record of what was reported at the time. | |||||
| 09/30/2026 | $0 | — | — | 18.0% | 1.25x |
Sections
56/87
answered · 64.4%
Deal Info
22/23 answered
| DEAL ID | 19/20 | |
| Investment # (column) | 1,013 | |
| Date of Investment (column) | 6/3/2025 | |
| Holding Period (Years) (formula) | 1.3507 | |
| Name of Investment (column) | Birch Lane Townhomes | |
| Legal Name of Investment (column) | Birch Lane Development LLC | |
| Asset Type (column) | Real Estate | |
| Asset Sub-Type (column) | Development | |
| City (column) | Durham | |
| State (column) | NC | |
| ZIP | 27703 | source ↗ confirmed |
| Geography | United States | source ↗ confirmed |
| Investing Entity (column) | Harbor LP | |
| Role (GP / LP) (column) | LP | |
| Partners | Harbor LP (investor member); Cedar Ridge Management (managing member) | source ↗ confirmed |
| Entity that Owns the Deal (column) | Harbor LP | |
| Ownership % (column) | 100.00% | |
| Initial Investment (column) | 800,000 | |
| Total Invested Capital (formula) | 800,000 | |
| MH / AK Code (column) | — | |
| Deal Manager (column) | Cedar Ridge Management - Priya Natarajan | |
| Investment Info (ALL) | 3/3 | |
| Strategy / Thesis (column) | ||
| Current Stage (column) | ||
| Projected Returns | 19.6% IRR / 2.66x over 6 years | source ↗ confirmed |
Real Estate
20/39 answered
| RE - DEV Real Estate Development report → | 13/13 | |
| Acres | 6.4 | source ↗ confirmed |
| Goal | Build 48 for-rent townhomes and hold | source ↗ confirmed |
| Is purchase intended for sale of land, for development (zoning/approvals), or building? | Development - build and hold; no land sale | source confirmed |
| Primary Use or Zoning use | Residential - RS-8 (townhomes permitted) | source ↗ confirmed |
| Planned Use or As of Right | As of right - site plan approval only | source confirmed |
| Expected # of Units or SqFt (projection · unconfirmed) | 48 | source |
| Expected date of approval (projection · unconfirmed) | 2025-10-01 | source |
| Expected plan to completion of project | Site work Q4 2025; vertical Q1 2026 - Q1 2027; lease-up to Q3 2027 | source confirmed |
| Expected total cost of approval | $185,000 | source ↗ confirmed |
| Expected total cost of project (projection · unconfirmed) | 6400000 | source |
| Value of land after approval | $2,950,000 | source ↗ confirmed |
| Expected completion date of project- of approvals or construction (projection · unconfirmed) | 2027-05-04 | source |
| Timeline | Approval Oct 2025 -> completion May 2027 -> stabilized Q4 2027 | source confirmed |
| RE | 7/26 | |
| Purchase Price | $3,440,000 | source ↗ confirmed |
| Purchase Price / Unit / SQ FT / Acre (formula) | 537,500 | |
| Purchase CAP Rate (document) | — | |
| Initial Loan | $2,133,000 | source ↗ confirmed |
| Initial Equity | $1,479,000 | source ↗ confirmed |
| Budgeted Capex (by category) (document) | — | |
| Last Renovated (document) | — | |
| Units to Rehab (document) | — | |
| Expected Refi Year (document) | — | |
| Expected Refi Proceeds (document) | — | |
| Projected Returns - Yearly (1-10?) (document) | — | |
| Expected Equity Multiple - Hold | 2.66x | source ↗ confirmed |
| Expected IRR - Hold | 19.6% | source ↗ confirmed |
| Expected Hold | 6 years | source ↗ confirmed |
| Expected Sale Proceeds (document) | — | |
| Loan #1 - Original or Refi (document) | — | |
| Loan #1 - Lender (document) | — | |
| Loan #1 - Agency (if applicable) (document) | — | |
| Loan #1 - Loan Amount (document) | — | |
| Loan #1 - Floating or Fixed (document) | — | |
| Loan #1 - Rate (document) | — | |
| Loan #1 - I/O or Amortizing (document) | — | |
| Loan #1 - Term (document) | — | |
| Loan #1 - Maturity Date (document) | — | |
| Loan #1 - Current Balance | — | |
| Loan #2…... | — |
Tax
4/5 answered
| Tax | 4/5 | |
| Initial Tax Year Expected (formula) | 2,025 | |
| Tax Document Expected (column) | K-1 | |
| Tax Preparer (column) | Lakeside CPA Group | |
| Contact for K1 (column) | Priya Natarajan | |
| FEIN / Account # (column) | — |
Legal
5/6 answered
Reporting & Docs
5/14 answered
| FS / Document Filing / Reporting | 5/14 | |
| OA | On file | source ↗ confirmed |
| Loan Docs (loan) - tbd if separate | On file | source ↗ confirmed |
| Closing Statement (RE) | On file | source ↗ confirmed |
| OM | On file | source ↗ confirmed |
| UW | On file | source ↗ confirmed |
| General Reporting Frequency | — | |
| Accounting Basis (Cash, Accrual) | — | |
| P&L Frequency | — | |
| Balance Sheet Frequency | — | |
| Collections Report Frequency | — | |
| Rent Roll Frquency | — | |
| GL Frequency | — | |
| Investor Report Frequency | — | |
| Capital Account Frequency | — |
Capital Summary
Initial Investment
$800,000
S
Committed
$800,000
S
Current Cash
—
S
Total Invested
$800,000
C
Entities
Entity Owning Deal
Harbor LP
Investing Entity
Harbor LP
Tax Reporting Entity
Harbor LP
Quick Links
Properties
Performance
Tax Docs
544 Birch Street
, Durham, NC
| Class/Style | B / Townhome development |
| Units | 48 |
| Sq Ft | 42,240 |
| Purchase Price | $3,440,000 |
| Price/Unit | $71,667 |
| Price/SqFt | $81 |
| Valuation | $4,000,000 |
Deal Terms
| Preferred Return | 8.0% |
| LP Profit Split | 70.0% |
| GP Profit Split | 30.0% |
Total Returns
$0
C
Capital
$0
C
Operations
$0
C
Lifetime ROI
—
C
Annualized ROI
—
C
IRR
18.0%
C
Equity Multiple
1.00x
C
# Distributions
0
Total Returns — Backup Calculation
| Capital Returns | $0 |
| Operations Returns | $0 |
| Total Returns | $0 |
Sum of all Capital + Operations distribution records for this investment.
Capital Returns — Backup Calculation
Sum of all distribution records where type = "Capital".
$0
Operations Returns — Backup Calculation
Sum of all distribution records where type = "Operations".
$0
Lifetime ROI — Backup Calculation
| Total Returns (numerator) | $0 |
| Total Invested Capital (denominator) | $800,000 |
| ROI = Returns / Invested | — |
Formula: Total Distributions / Total Invested Capital × 100
Annualized ROI — Backup Calculation
| Lifetime ROI | — |
| Investment Date | 06/03/2025 |
| Years Held | 1.3 yrs |
| Annualized ROI | — |
Formula: Lifetime ROI / Years Held
IRR — Backup Calculation
| Initial Investment (outflow) | -$800,000 |
| Terminal Value (Current FMV) | $1,000,000 |
| IRR (XIRR) | 18.0% |
XIRR calculation using actual cash flow dates. Investment outflow → Distribution inflows → Terminal FMV (if active).
Equity Multiple — Backup Calculation
| Total Distributions | $0 |
| Current FMV | $1,000,000 |
| Total Invested Capital (denominator) | $800,000 |
| Equity Multiple | 1.00x |
Formula: (Total Distributions + Current FMV) / Total Invested Capital
# Distributions — Details
0 distribution records on file.
Performance History
| As Of Date | Total Returns | Lifetime ROI | Annualized ROI | IRR | Equity Multiple |
|---|---|---|---|---|---|
| 09/30/2026 | $0 | — | — | 18.0% | 1.25x |
Distribution Summary
| Total Distributions | $0 |
| YTD Distributions | $0 |
| Distribution Count | 0 |
Financial Statement Coverage — have vs need, from the Documents app
on file ·
missing
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No matching deal found in the Documents app for this investment.
No coverage grid recorded for this deal yet.
| Statement | On file | Missing | Latest on file | Missing periods |
|---|---|---|---|---|
| — |
Deal Docs
✓
Available Financial Statements — from the Documents app
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No matching deal found in the Documents app for this investment.
Matched to — no financial statements on file yet.
| Statement | Period | Received | Filed | Format | Open |
|---|---|---|---|---|---|
| Y — | View SharePoint ↗ |
Tax Documents — by Year (this entity)
1 document(s) · full tax history & capital roll-forward →
2025 (1)
| K-1 · Birch Lane Development LLC | Expected | — |
QuickBooks Financials Link (no PDF to receive)
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Not linked to QuickBooks. If this property's books live inside a parent entity's
GL, link the account subtree and its financials file themselves.
· disabled
· excludes
| Year | Filed as | Net | Sch A candidate | Nondeductible |
|---|---|---|---|---|
: booked
of rental income while filed as personal use. Either this belongs under
Rental Properties and is Schedule E, or the receipt is misclassified.
: registered as a rental, but QuickBooks books it
under Personal Properties, so it is filed as personal use — nothing from
this year goes to Form 8825. Move the account under Rental Properties if
it is Schedule E.
1 · QuickBooks Location
2 · Account subtree
postings ·
→ ·
net
No subtrees match.
3 · Tax treatment
4 · Exclude any child that is not this property
(a vehicle sub-ledger, a financing account)
What this would file
:
no postings
net
· filed as personal use — QuickBooks books this year under Personal Properties
· Sch A candidate
· nondeductible
Cross-Reference Tracking
| Distribution Applicable | No |
| Tax Tracker | Yes |
| FS Tracker | Yes |
| REO (Property) | Yes |
| Shared Expenses | Yes |
| Annual Report | No |
| Syndicated Entities | No |
| Loan Tracker | No |
| Exchange Tracker | No |
FS Number: FS-1013
Investment Notes
Sponsor confirmed the capex schedule; roof work funded from reserves, no call to partners.
Investment Status
| OA Status | Executed |
| Member Class | Class A |
| Amount per OA | — |