Cottonwood Live - Invest on Main Street

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Passive Investment Opportunity

Cottonwood at Park Central

This is a fantastic opportunity to get in on an excellent value-add deal with rents currently well below market rate in a great location.

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QRP, Solo 401(k), SD-IRA

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506(c) For Accredited Investors Only

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15% Targeted IRR

Live Investor Presentation on Thursday, January 7th, at 6PM PST

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Investment Overview

Live Investor Presentation on Thursday, January 7th, at 6PM PST

15%

Targeted IRR

10-12%

Projected Annual
Cash-on-Cash

5-10 Years

Holding Period

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8%

 Preferred Return
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Live Investor Presentation on Thursday, January 7th, at 6PM PST

Note: This 506(c) syndication is open to ACCREDITED investors only.

Take a Tour

Live Investor Presentation on Thursday, January 7th, at 6PM PST

Opportunity Summary

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Pandemic Resilience

Landlord Friendly State:

  • Texas is very pro-landlord
  • Government is providing significant assistance programs
  • In Dallas, evictions are still possible when tenant doesn’t follow CDC rules that requires them to provide evidence they are seeking a job, to establish a rent payment plan, etc.

Resilient Renter Base

  • A & B Class residents with higher education and income are less impacted. We are focusing on ‘grey collar’ residents, who typically have fewer collection issues. 
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Timeline

0-18 Months

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Complete exterior upgrades – painting, landscaping, concrete work

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As units turn, roll out interior operational upgrades – faucets, LVP, bathroom reno

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Implement lead-capture system with 24/7 live-assist and 15-minute response time

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Continue pushing rents on renewals to catch up to market rents

18-36 Months

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Continue stable operations

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Begin testing higher upgraded units to see what the market will bear

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We anticipate doing a supplemental loan at end of year 3 (75% LTV @ 3.8% fixed) to be able to return 50% of capital back to investors

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Continue cash flowing

Property Details

The Property

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Year Built: 1983 + 1995 (Three Story)

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Buildings: 17 Total | 15 Residential

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Units: 270

Property Amenities

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Pet Park

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Gated Entrance

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Playground Area

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24×7 Laundry Rooms

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Outdoor BBQ Station

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Expansive Fitness Center

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Resort-Style Swimming Pool

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Clubhouse & Business Center

Dallas, TX

Diverse Economy = Recession-Resistant
Dallas is one of the most recession-resistant multifamily investment markets in the nation.
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Its high concentration of financial and professional service firms generate an exceptionally affluent tenant base, while its diverse economy and rapidly growing population continue to drive demand and stimulate rent growth.

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The metroplex consistently maintains a remarkably low unemployment rate coupled with nation-leading employment growth, making Dallas and Fort Worth two of the most desirable places to live and invest in the country.

Business Plan

Existing

Planned

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On average, the current rent is $50-$75 below market for units with similar interiors

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After renovations, the rents can grow an additional $100-$150 to meet market rates for renovated units

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Cottonwood has been owner-managed during its current ownership tenure. They have done a good job at upgrading the complex but have shorter-term capital and are looking to redeploy in newer projects.

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Brought into REM’s Property Management along with our other portfolio of properties which include Millennium Dallas and North Creek (within 3miles).

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The interiors have been moderately upgraded over the past 5 years. The exterior/curb appeal has been well maintained and only needs minor tweaking to upgrade. Same with signage and name.

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The current “renovated” units will be our “classic” units. The Richardson and Lake Highlands markets continue to provide a high-level resident demographic driving a strong demand for A-Class product.

Capital Improvements

Existing Units

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71 units require full renovation to achieve A-Class level. These have outdated interiors with older classic looking cabinets, flooring, appliances, tub surrounds, etc.

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199 units require light renovation to achieve A-Class level. These have recently been renovated with LVP Flooring , Cabinets, Lighting and Paint.

Upgraded Units

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Complete Laminate Vinal Plank (LVP)

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New appliances

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Repainted interiors

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Bathroom vanity mirror frame and lighting

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Resurfaced tub surrounds

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Resurface/replace kitchen cabinets

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Light Fixturing

Existing Exterior

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General curb appeal needs enhancement

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Striping of parking lot

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Concrete repairs

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Landscaping

Upgraded Exterior

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Landscaping/Curb Appeal

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Add 1st floor yards

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.

Live Investor Presentation on Thursday, January 7th, at 6PM PST

Note: This 506(c) syndication is open to ACCREDITED investors only.

This Deal is Closed


Check out our Current Investment Opportunity.

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