AVONDALE COMMONS APARTMENTS
320 Units | Avondale, Arizona
Overland Group is excited to announce its latest investment opportunity, Avondale Commons Apartments located in Avondale, AZ. As a vertically integrated real estate development, capital, construction, and property management company we maximize profits, transparency, alignment, and focus resulting in more project durability and less investor risk.
PROJECTED RETURNS
16.2%
Investor IRR%
3.3x
Equity Multiple
8.0%
Preferred Return
5.7
Hold Period
$75K
Min. Investment
PROJECTED RETURNS
16.2%
INVESTOR IRR %
2.3x
EQUITY MULTIPLE
8.0%
PREFERRED RETURN
5.7
HOLD PERIOD
$75K
MINIMUM INVESTMENT
VIEW THE INVESTOR PRESENTATION
This four-story, class-A facility is located in one of the strongest locations we’ve ever seen for multifamily. Avondale Commons Apartments is placed on a major intersection and one block north of an I-10 freeway on/off ramp. McDowell Road has an estimated traffic count of 20,421 cars per day. In addition to the amazing location, this project is also located right in the path of growth in the area. There is extremely strong demand for apartments in the area with excess demand of over 1,600 rental units.
The Company is raising an estimated $17,000,000 in equity capital with a maximum raise of $19,000,000 to develop and construct a new 320-unit multifamily project. The Company is offering investors Class A-1 and Class A-2 which collectively will represent 70% ownership in the project. The minimum investment for either class is $75,000.
Class A-1 units is limited to $5,000,000. These units are offered to those who fund their investment by May 10, 2021. Class A-1 units receive an automatic 10% discount on their investment ($100,000 investment turns into $110,000 worth of ownership). Class A-1 units also receive an 8% preferred return starting at the completion of construction.
Class A-2 units is currently limited to $12,000,000. These units are offered to those who fund their investment by December 10, 2021. Class A-2 units receive an 8% preferred return starting at the completion of construction.
The sponsors are planning on investing $450,000 or roughly 2.5% of all equity to be raised.
This investment is for accredited investors only, but is open to self-directed IRA’s and 401(k)’s.
WHY WE LIKE THIS PROJECT
Fastest Growing County in the U.S.
High occupancy, strong rent and income growth
JOBS – Local +Proximity to Phoenix , but cheaper rents
Experience - Same team, working on third project
Knowledge of construction costs, conservative underwriting
Vertical integration makes everything better
WANT TO LEARN MORE ABOUT THIS PROJECT?
PROJECT OVERVIEW
12.5
Acres
4-Story
Buildings
320
Units
FINANCIAL HIGHLIGHTS
~$70.8M
Project Cost
8.0%
Cumulative Pref. Return
$450K or 2.5%
Sponsor Co-Investment
$75K
Min. Investment
