Yieldstreet offers equity investment in Charlotte multifamily property with target IRR of 15%-17%

The Private Markets Investment Platform yield street launched a new offering for a multi-family property located in Charlotte, North Carolina.

The Commons at University Square is a 276-unit garden-style multifamily property located in Charlotte, North Carolina, a city that has experienced a population and industrial boom over the past decade.

The property offers resort-style amenities including a fitness center, clubhouse, sundeck and pool, grilling area, tennis courts, lounge, and on-site laundry facilities. The property consists of 72 standard one-bedroom units, 96 deluxe one-bedroom units, 72 standard two-bedroom units, and 36 deluxe two-bedroom units.

The property is ripe to add value with planned improvements and increased rental income to match the market. Sponsor of the offer GVA Real Estate Group plans to invest $2.6 million in renovations, including modern finishes, plumbing and lighting upgrades and the installation of cabinets, counters, backsplashes, flooring and fixtures. stainless steel appliances. Seventy percent of the dwellings will be renovated.

GVA plans to raise rents by an average of $250 to $350 per unit to bring them back to market rates. Over the past decade, Charlotte’s population has grown by almost 20%. Near the property are more than 77,000 jobs, 500 employers and a student population of 30,000, providing the security of economic diversity at the property.

  • Minimum investment: $15,000
  • Target internal rate of return (IRR): 15% to 17%
  • Multiple of target equity: 1.55x-1.75x
  • Target investment period: 36 months

GVA Real Estate Group, sponsor of the investment, is a full-service, vertically integrated real estate company focused on multi-family properties.

The company has funded 233 deals totaling $4.89 billion. GVA manages 24,800 units in 128 properties valued at $3.05 billion. GVA retains 39% of the capital of the transaction.

Photo: courtesy of the GVA real estate group

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