137 River Street
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Address
City/State/ZIP
Raleigh, NC 27609
S
Units
212S
Property Style
GardenS
Market Type
SuburbanS
Year Built
2004S
Year Renovated
—S
Class Rating
B+S
Acres
—S
Total Sq. Ft.
186,560S
Unit Mix
Studios
0S
1 BR
74S
2 BR
106S
3 BR
32S
Other
0S
Commercial
0S
Deal Terms
Preferred Return
8.0%S
GP Ownership %
10.0%S
LP/GP Profit Split
70% / 30%S
Partners
Northwind Family Office; sponsor co-investS
Investment Details
| Deal Name | Riverbend CommonsS |
| Status | ActiveS |
| Initial Investment | $3,100,000S |
Market Value
$16,545,000S
Cap Rate
C
DSCR
C
Net Equity
C
NOI Metrics (Annual)
T-1 NOI
C
T-3 NOI
C
T-6 NOI
C
T-12 NOI
C
Unit & Square Foot Metrics
| Price/Unit | C |
| NOI/Unit | C |
| MV/Unit | C |
| Price/Sqft | C |
| NOI/Sqft | C |
Financial Breakdown (2026)
| Net Rental Revenue | $279,820S |
| Property Taxes | ($29,101)S |
| Insurance | ($11,641)S |
| Repairs & Maintenance | ($23,281)S |
| Utilities | ($20,371)S |
| Debt Service | ($49,330)S |
| Professional Fees | ($2,328)S |
| Management Fees | ($10,185)S |
| Other Expenses | ($3,492)S |
| NOI | $148,417C |
Loan -
( days to maturity)
edit terms
| Original Amount | S |
| Outstanding | |
| Balance As Of | |
| Interest Rate | S |
| Loan Type | S |
| I/O Period | S |
| Loan Term | S |
| Monthly Debt Service | S |
| Annual Debt Service | C |
| Guarantee % | S |
| Maturity Date | S |
—
| Budget | S |
| Spent | S |
| Remaining | C |
| % of Purchase | C |
| Description | Budget | Spent | Remaining |
|---|---|---|---|
| RoofS | $231,600S | $198,500S | $33,100C |
| Unit renovationsS | $827,300S | $496,400S | $330,900C |
| AmenitiesS | $99,300S | $66,200S | $33,100C |
Ownership Structure
C
total
C
This property is held in more than one asset class, so the classes
are totalled separately. A lender's interest in the loan and an
owner's interest in the building are not shares of the same thing
and must not be added.
| Entity | Asset Class | Ownership % | Equity Value | Net Equity | Entity Type |
|---|---|---|---|---|---|
| Harbor LPS | Multi-FamilyS | 22.0%S | $3,640,000S | $1,699,200C | LPS |