Deal Summary: On-market acquisition of a Class C multifamily property in NE Portland. Very attractive basis with strong mark-to-market and management upside potential.
Liquidity Strategy: 3-5 Year Hold to Cash Out Refinance or 1031 Exchange.
17924 SE Division St., Gresham
Property Type:Multifamily
Investment Type:Value-Add
Deal Size: 30 Units
Deal Summary:Equity syndication. Off-market acquisition. Very attractive basis with a heavy physical and management value-add.
Liquidity Strategy:2 Year Stabilization to Cash-Out Refinance and Indefinite Hold.
4961 SE 73rd Ave, PDX
Property Type: Multifamily Development
Investment Type:Opportunistic
Deal Size:30 Market-Rate Units | 2 Buildings
Deal Summary:Off-market acquisition of a multifamily development site in Portland. Ownership redesigned the buildings, renegotiated an existing utility easement and resolved a boundary line dispute in order to increase the site’s unit count by 58%. The property will include geothermal HVAC, solar power, townhouse-style units with interior mezzanines and 1.5 bedroom units to enable remote working for tenants.
LiquidityStrategy: Cash-out Refinance and Hold.
1804-8110 SE Raymond St, PDX
Property Type:Multifamily
Investment Type: Value-Add
Deal Size: 16 Units
Deal Summary: Off-market acquisition of 16 Class C multifamily units in SE Portland with in-place rents 25%+ below market.
Property Repositions Plan:rebranding, minor exterior cosmetic upgrades and upgrading the interiors to B+ finish quality as tenants vacate.
Liquidity Strategy: Cash-out refinance with long-term hold within 2 years of acquisition.
3823 SE 52nd Ave, PDX
Property Type: Multifamily
Investment Type: Value-Add / Opportunistic
Deal Size:In-Place: 9 Units, 18.900 SF lot size Proposed: 48 Market-Rate Units
Deal Summary: Property was acquired prior to a zoning change that allowed for significantly more density on-site. Ownership plans to redevelop one of existing structures (an 1890’s historic farmhouse, currently a 6-plex) and add two additional apartment buildings to the site in phases. The historic renovation qualifies for a NPS tax credit, reducing the redevelopment costs by 25%.
Liquidity Strategy: Refinance and hold.
322 SE 82nd Ave, PDX
Property Type: Commercial (Retail | Office)
Investment Type: Value-Add
Deal Size: 15,000 SF, 2 story, multi-tenant retail/office building
Deal Summary:The building was delivered 75% vacant, allowing the partnership the ability to immediately perform exterior and interior capital improvements and begin work on leasing.
Business Plan: re-tenanting the building and improving the adjacent commercial lots with food-oriented retail (national drive-thru coffee chain, food cart pod, etc.)
Liquidity Strategy:Cash Out Refinance or 1031 exchange within 36 months.
12404-12420 NE Halsey St., PDX
Property Type:Commercial (Retail | Cell Tower)
Investment Type:Value-Add
Deal Size: 16k SF | 3 Buildings | 2 Tax Lots
Deal Summary:Strong in-place cash flow with 5+ yr WALT and significant near-term mark-to-market upside on 30% of NRA.
Liquidity Strategy:1-3 Year Stabilization to Cash-Out Refinance or Partial Sale
Past Deals
1804 NE 14th Ave, PDX
Classification: 7-Unit Value-Add Multifamily in Portland’s Irvington Neighborhood. 15-month hold.
Classification: 8 Unit Value-Add Multifamily in Portland’s Montevilla neighborhood.
Investment: Preferred equity, current pay.
Investor Benefit:18% annualized return
2507 SE Monroe St. Milwaukie, OR
Classification:8 Unit Value-Add Multifamily in Milwaukie, OR (south Portland Metro). Value-add acquisition to value-add exit. 12 month hold. Peak Asset Management was retained by Buyer for continued property management services.
Investment:Preferred equity, current pay.
Investor Benefit:18% annualized return.
100 N. Killingsworth, PDX
Classification: 7.5k SF Value-Add Mixed-Use building near Portland’s Williams/Vancouver corridor. Heavy physical, leasing, and management value-add. Over 2x NOI increase during stabilization. 24-months to liquidity event (C-O Refi)Investment: Joint Venture (TIC)
Investor Benefit:
◘ Full Cash-Out Refinance (110% of Equity).
◘ Significant accelerated depreciation (70% of the contributed equity)
◘ Long-term hold with recurring cash flow
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