$5 Million JV Equity Investment Opportunity – 324-Unit Class A Multifamily Project Near Exxon Campus In NW Houston, Texas

January 23, 2017

We are the exclusive advisor to a highly successful residential developer who is seeking approximately $5 million of JV equity to facilitate the development of a ultra-prime 324-unit Class A multifamily project in NW Houston Texas. The equity investor could become the property manager if they have experience managing Class A properties.

 

The development which is nested on 18.76 acres will be comprised of 324 luxury units and will have a stabilized NOI of approximately $3.7 million. Furthermore, this development also possesses significant upside due the shortage of units in the sub-market due to its close proximity to major drivers such as the new 385 acre Exxon corporate campus.

 

You are expected to make an approximate 2.7X equity multiple, a 23% IRR over the 5 year hold period on the deal level. The yield to cost is 7.9%.

 

The sponsor has a proven track record of building successful residential communities and commercial projects for the past 25+ years. To date, their portfolio has comprised over 28 office or industrial buildings totaling more than 2,000,000 square feet.

 

Steven Weiss | Managing Director

sweiss@carltongroup.com

+1 212.716.5631 Office

+1 516.236.7291 Mobile

 

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$5 Million JV Equity Investment Opportunity – 324-Unit Class A Multifamily Project Near Exxon Campus In NW Houston, Texas