JV Equity Request for Idaho Multifamily Development
September 9, 2021
The Carlton Group is engaged to raise JV equity to co-invest with the developer of The Residences at Victory Ranch located in Idaho Falls, ID. This 212-unit shovel-ready multifamily project is located in the second fastest state in the U.S. and benefits from relocations from more expensive neighboring markets. The sponsor is a heavily-experienced developer who has acquired or developed >4,000 apartments in addition to several million square feet of industrial and office buildings.
- Idaho Falls named “Best Performing Small City” in in U.S. by Milken Institute
- Conveniently located near I-15, employment centers, shopping and recreation.
- Projected deal-level returns of 25.5% IRR and 2.3x equity multiple.
- 166-unit Phase II, which can be developed within 6 months, also available for additional $7 million JV equity investment.
- Sponsor also controls two smaller shovel-ready multifamily development projects in Salt Lake City available for JV equity investment.
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