Riverbend Commons - Offering Memorandum.pdf

Offering Memorandum · filed July 18, 2021 · 46 pages · deal: Riverbend Commons
Page 3
Property overview

137 River Street | Raleigh, NC 27609

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Location: Raleigh, North Carolina; suburban submarket

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Page 4
Property description

Product type: garden multi-family, built 2004; class B+

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Built in 2004; no major renovation since construction

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Page 5
Unit mix

Unit mix: 74 one-bedroom, 106 two-bedroom, 32 three-bedroom; 212 units in total

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Page 9
Market overview

Submarket: suburban Raleigh; commuter suburb with new-household growth above the metro average

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Page 12
Investment highlights

Projected 13.6% levered IRR and a 1.99x equity multiple over a 6-year hold

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Tab: Returns
Returns
Business plan: a five- to seven-year hold, with a sale or refinance after stabilisationExpected Hold
On file

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