BR Glenwood
This is a sample of a Delaware Statutory Trust offering. DSTs are illiquid private placements offered under Reg D to accredited investors only. The figures below are sourced from the sponsor's Private Placement Memorandum. Year-one cash-flow, cap-rate, and DSCR figures are projections, not guarantees. Loss of principal is possible.
About this offering
This investment contains a single, 216 Class-A multifamily apartment property in Atlanta, Georgia.
Key metrics
- Year 1 Cash Flow
- 5.14%
- Year 1 Cap Rate
- 4.91%
- Investor Purchase Price
- $55.40M
- Offering Size
- $22.74M
- Year 1 DSCR
- 1.94
- Hold Period DSCR
- 1.89
Debt structure
- Loan Amount
- —
- Lender
- —
- Program
- —
- Interest Rate
- 4.21%
- LTV
- 58.95%
- Term
- 10 years
- Interest Only
- 5 years
- Amortization
- 30 years
Specifications
- Units
- 216
- Occupancy
- 89.80%
- Strategy
- Property has below market rents for all unit types. Rents are 4.3% below market average.
Market analysis
- Population
- Atlanta has seen growth in population, jobs, and incomes in recent years
- Growth Rate
- Population growth for the area is projected to be strong over the next 5 years
- New Supply
- Newer, competing properties may enter the market
Principal risks
- R01Newer, competing properties may enter the market which may affect occupancy and/or rent growth.
- R02This offering has a low cap rate of 4.90%. Cap rates have been compressing and with interest rates set to go up we may see cap rate compression going forward. This may hinder the ability to sell profitably.
- R03The year-1 projections for EGR and NOI are 34% and 52% above the trailing-12 numbers. The property is in lease-up currently, but may struggle to meet these projections.
Property imagery
Bluerock
According to the sponsor's website: "Bluerock is a national real estate investment firm headquartered in Manhattan with regional offices in Southfield, Michigan, Boise, Idaho and Newport Beach, California. Bluerock is a leading private equity real estate asset manager with a focus on Core-Plus, Value-Add, Opportunistic and Development investment strategies, and has transacted over 9 million square feet of residential and commercial real estate acquisitions since its inception in 2002. Bluerock's key principals have an average of 25 years investing experience, have been involved with acquiring over 30 million square feet of real estate with approximately $10 billion in value, and have helped launch leading real estate private and public company platforms."
Request the full offering package for BR Glenwood
Private Placement Memorandum and sponsor materials available to accredited investors only.