| | | | | Hi Friend,
We're excited to announce that we're under contract on a new investment opportunity - Ashwood Park Apartments, a 144-unit property in Houston TX MSA, and it's now open for commitments.
I'm down in Texas now, and I made a video to tell you about the deal... | | | | | | | | | | | Summary144 Units, $77,083 USD Per Unit 11,100,000 Purchase Price 1984 Build Nearly 30% Discount Against Last Year's Asking Price Value Add Opportunity Refinance Scheduled within 24 Months Strong Local Average Incomes Support Target Rents
Our team reviewed (& rejected) over 100 deals.
Why Ashwood Park Apartments made the cut: High Demand Rental Market - There is no shortage of good paying jobs within a 15 minute drive but there are limitations on rental options. The Price - $77,083 per unit is unheard of in that area. For context this property last sold in 2017 for $67,361 per unit. We negotiated a tremendous deal. The Property - 1984 construction means that there are no legacy issues like cast iron plumbing or aluminum wiring. Huge savings there. Employment - Port of Houston 67,000 jobs. John H Hobby Int Airport 52,000 jobs. Webster Health Corridor 7,500 jobs. The Location - Next door there are townhouses priced $300K - $400K, and condo's at $200K - $300K on the other side. Schools, medical, and grocery stores within walking distance make this a great place to live. Rents Under Market - Once we clean up the property we'll be able to move rents up by approx. $150-$180. Reserved & Covered Parking - Ashwood is laid out on 5.5 acres and many tenants will pay $25 - $50 per month for reserved or covered parking. The Renovation Budget - Even with all the planned renovations and repairs, we're still going to be all in at a fraction of what it would cost to build brand new. This makes Ashwood Park Apartments incredibly competitive in the market. Houston - There are over 7,000,000 people in the Houston metro. It is the youngest of the 20 largest metros in the US (median age 34.9 years) and is the 7th largest metro in terms of GDP. Team - Our "boots on the ground team" has been in the business for over 40 years and has many other assets in the metro area that allows us to benefit from their existing infrastructure & efficiencies.
| | | | | Investment TermsLimited Partnership Units (LP) $50,000 Minimum (CAD) 5 Year Target Term 7% Preferred Return / 70% Profit Participation* Tax-Efficient Structure For Investors No US Tax Filing For Canadian Investors Limited to Accredited Investors Target Refinance within 18-24 months to return capital to investors
| | We expect this reservation to wrap up quickly! Reserve your commitment in our Portal / Data Room.
This will hold your spot, while you review all the documents and complete your due diligence. Deadline is Friday, April 21 or when fully subscribed. | | | | | | | Webinar About Ashwood Apartments | | | | The best way to learn more about this deal, ask questions, and hear other people's questions is to attend the webinar next Wednesday, on April 12 at 5pm PST / 6pm MST / 8pm EST. | | | | | | | Galveston, TX - Half Ironman (70.3 miles) | | 2 km Swim, 90 km Bike, 21 km Run
Results: Patrick 5 hrs 52 min | Rory 6 hrs 18 min | | | | | | Multifamily Real Estate Investor
BREI Properties | 780-707-1785 | zorya@brei.ca | | DISCLAIMER
The information contained herein is intended for information purposes only and does not constitute an offer to sell or a solicitation to buy securities. No securities regulatory authority or regulator has assessed the merits of the information herein or reviewed the information contained herein. The Partnership has prepared a Term Sheet for delivery to prospective investors that describes certain terms, conditions and risks of the investment and certain rights that you may have. You should review the Term Sheet with your professional adviser(s) before making any investment decision. This email and the offering materials provided are intended for delivery only to, and participation in the investment is restricted to, investors who are able to make the representations set for under Section 2.3 (Accredited Investor) or Section 2.5 (Friends, Family or Business Associates) of National Instrument 45-106, as described in the Term Sheet and Subscription Agreement. *THE PREFERRED RETURN PAYABLE BY THE PARTNERSHIP IS NOT GUARANTEED AND MAY NOT BE PAID ON A CURRENT BASIS IN EACH YEAR OR AT ALL. |
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