*Estimated hold period is for individual property, not a fund that may hold the property.
BANNER AT STERLING FARMS
- 240 unit multifamily development conveniently located near many restaurants, bars, and retail options.
- Located in Jackson, TN a tertiary market along I-40:
85 miles Northeast of Memphis, TN.
120 miles Southwest of Nashville, TN.
45 miles from the new, highly anticipated Ford production complex in Stanton, TN, known as BlueOval City.
- Underserved market with low vacancy and no recent developments.
- No other multifamily construction projects currently planned for the area, which should keep occupancy levels and rent growth stable.
- Development will consist of a clubhouse and 11 3-story, garden-style buildings with exterior breezeways.
- Community amenities will include a clubhouse, pool with sundeck, outdoor cooking stations and fire pits, playground, dog park and grooming area and car wash.
- Apartments will offer renters an open concept, affordable, high-quality product with little competition in the area.
Property Type: Multifamily
Property Class: Class A
# of Units: 240
Construction Costs: 49,440,072
Projected Close Date: December 14, 2022
Projected Loan Amount: 29,664,043
Projected LTV: 60%
Disclaimer: The information contained herein is for informational purposes only and does not constitute an offer or sale or any form of general solicitation or general advertising of interests in any fund or investment vehicle. Any such offer will only be made in compliance with applicable state and federal securities laws pursuant to offering documents which will be provided to qualified prospective investors upon request. Prospective investors should review the offering documents carefully, which includes important disclosures and risk factors.
Funded of $21,382,230