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Life at Spring Estates

372-Unit Value-Add B CLASS in Houston, TX

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Targeted IRR

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Projected Annual Cash-on-Cash

Targeted Equity Multiple

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Projected Preferred Return

Note: This 506(c) project is for ACCREDITED Investors only.

15 Year Track Record

Multifamily Apartments

MULTIFAMILY UNITS

PORTFOLIO

COMMUNITIES

STATES

Energy Investments

NATURAL GAS & OIL WELLS

LOCATIONS

STATES

Why Houston, TX

With an employment makeup weighted in healthcare, education, technology, manufacturing, transportation, and finance, the area has built-in insulation from market volatility.

Rapid Job & Population Growth

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#3 in raw population growth year-over-year
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If Houston metro was a state:
(1) It would have the 15th largest population in the U.S.
(2) Its GDP would rank 14th, just behind Michigan

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Added nearly 250 people every day on average
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The Lone Star State accounts for 19% of all Net population absorption

Awards & Accolades

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#1 Best State to Start a Business, Wallet Hub, 2021
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#1 U.S. Destination City, U-Haul , 2019
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#2 Nationwide for Global Trade, Global Trade magazine
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#2 Fastest Growing Tech Hub Amid Pandemic, Axios, 2021

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#3 largest population increase nationally, CoStar, 2020

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#5 Largest MSA in the US

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#6 City Where Millennials are Moving, Smart Asset, 2020

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#6 Best US Place to Live for Quality of Life, Yahoo 2021

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Financial Overview

Favorable Financing

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5-year loan, 3 years with two 1-year extensions
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Full 5-year term interest-only
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Leverage: 75% LTV + 100% CapEx
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Interest rate 3.5% floater
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Bridge Loan

Conservative Underwriting

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Conservative assumptions of sale value based on a market Cap Rate at of 5% and sale in year 5 at 5.5% (increase by 10 basis points per year).
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Only targeting to renovate 15 units per month.
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Underwriting provides for an economic vacancy of 13.5% (50 units) while maintaining stabilized cashflow.
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Resilience Where it Counts

Landlord-friendly State

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Texas is a very pro-landlord state.

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The government is providing significant assistance programs for residents who cannot pay rent.
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In Houston, we can evict residents who don’t follow CDC rules, such as the requirement that they provide evidence they are seeking jobs, establishing rent payment plans, etc.

Resilient Renter Base

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Diversified employment renter base
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Our target B Class residents have higher education and incomes that are less impacted by COVID.
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We are focusing on workforce housing; our core tenant base is essential workers who typically have fewer collection issues.
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How We Add Value

Kitchen & Bathrooms

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Resurface or replace faux-granite kitchen and bathroom vanity countertops

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Upgrade plumbing and lighting hardware to brushed nickel

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Refinish bathroom, tub & surround

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Install laminate vinyl plank flooring
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Install black appliance package
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New shaker-style cabinet faces
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Install kitchen backsplash

Living & Bedrooms

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Two-tone designer-inspired paint
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New brushed nickel lighting
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2-inch faux wood blinds
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Laminate vinyl flooring
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Upgraded fixtures

Exterior Improvements

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Add dog park/playground
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Exterior cleanup/facelift
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Landscaping upgrades
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Rotted wood & paint

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Children Playground
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Gym equipment
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Trim painting
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Signage
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HVAC
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Pool

Investor Requirements

The SEC requires that all investors qualify as an accredited investor

Not sure if you're accredited? Click here.
If you meet JUST ONE of the criteria below, then congratulations, you’re accredited and able to invest!

  1. With Income – You must have income that exceeds $200,000 per year (OR) You can elect to combine incomes to $300,000 per year if married.
  2. With Net Worth – Individual (OR) combined net worth > $1M
  3. Other Criteria – The SEC provides other ways an investor can qualify as accredited. Click here for more info.

Access The Investor Kit Now

Don’t miss out on the great opportunity to invest in an excellent value-add multifamily community in a top-performing market. Complete the form below to get instant access to the presentation about this opportunity and get All You Need To Know To Invest.

We Are Multifamily Investment Professionals

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Experienced

With a combined 100+ years of experience and $300MM in closed multifamily transactions, we have the subject matter expertise, key relationships, and proven track record to execute profitable deals.

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Conservative

We are opportunistic investors focused on creating long term value. We stress test our deals and use leverage carefully to create sustainable cash flow and limit our risk.

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Diligent

Closing a deal, while challenging, is the easy part. Executing on the business plan is the hard part. It takes perseverance and persistence to achieve what we set out in our underwriting, and our team strives to knock it out of the park every time.

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