Asheville Exchange
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
The offering will purchase a Class A multifamily complex in Asheville, North Carolina. Developed in 2018, the 312-unit property has high-quality amenities. The Sponsor has plans to improve property management to organically increase rents.
Key metrics
- Year 1 Cash Flow
- 5.00%
- Year 1 Cap Rate
- 5.36%
- Investor Purchase Price
- $65.03M
- Offering Size
- $28.32M
- Year 1 DSCR
- 1.89
- Hold Period DSCR
- 1.78
Debt structure
- Loan Amount
- —
- Lender
- —
- Program
- —
- Interest Rate
- —
- LTV
- 56.44%
- Term
- 10 years
- Interest Only
- 5 years
- Amortization
- 30 years
Specifications
- Units
- 312
- Year Built
- 2018
- Occupancy
- 94.87%
- Strategy
- Sponsor has plans to improve property management to organically increase rents.
Market analysis
- Growth Rate
- Asheville's demographic outlook is increasing faster than the national average for population and income
- New Supply
- Surrounding market occupancy at 95%
Principal risks
- R01Low investor capitalization rate of 5.36% for investors in a Class A property
Property imagery
PASSCO
According to the sponsor's website: "Since 1998, Passco Companies, LLC has operated throughout all market conditions and cycles. The company has acquired over $4 billion in multifamily and commercial real estate in the United States. Since its inception, Passco Companies has become a recognized provider of investment opportunities in real estate projects.
Passco Companies is directed by a team of dedicated senior real estate professionals whose experience in the business averages 34 years, and who, collectively, have acquired over $30 billion in investment real estate projects."
Request the full offering package for Asheville Exchange
Private Placement Memorandum and sponsor materials available to accredited investors only.