Larson Capital Persimmon, LLC


Target Performance

21.74%

Target Investor IRR

1.56x

Target Equity Multiple

Offering Terms

Target Raise

$33,859,703

Minimum Investment

$25,000

Project Details

1420 Cates Creek Parkway, Hillsborough, NC | Class A Multifamily Property

Number of
Units

Average
Unit SF

Average
Rent / Unit

Net
Rentable SF

Lot
Size

Projected
Completion

Number of Parking Spaces

Number of
Buildings

Offering Highlights

  • This fully zoned and shovel-ready Project is the only Class A multifamily development in Hillsborough, with no other developments planned.
  • Located near highly trafficked intersection of I-40 and I-85, the site has excellent connectivity to the Raleigh/Durham/Chapel Hill market (the โ€œTriangleโ€ Region), one of the nationโ€™s fastest-growing MSAs.
  • Advantageous location offers direct access to local demand generators UNC Health & Urgent Care, Durham Tech, RTP Logistic Park, and more.
  • The Property will offer a value proposition to potential tenants, with rents being less expensive than the comparable properties in Durham and Chapel Hill.
  • The Triangle Region is continually ranked among the nationโ€™s best metropolitan areas due to its robust economy, attractive business climate, highly educated workforce, established infrastructure, and outstanding quality of life.

Project Timeline

Land & Loan
Closing

Construction
Start

First Units Occupied

Development
Completed

Stabilization & Exit

Offering Timeline

Target Hold Period

3 Years

Target Exit

Q4 2028

THE DEVELOPMENT

The Project as planned is a 346-unit best-in-class garden apartment and townhome community with a desirable amenity package and luxurious interior finishes.

MARKET OVERVIEW

The Project is advantageously located in the historic community of Hillsborough, NC within the high-growth Raleigh-Durham-Chapel Hill โ€œTriangleโ€ region. The Project is located within a 15-minute drive of both the Durham and Chapel Hill downtown areas. A new Amtrak station is planned to serve the Hillsborough area in 2027.

PREMIER AMENITIES

The Project will include a premier community amenity package, including a resort-style pool, pet park, outdoor picnic areas with fire pits, package locker room with refrigerated storage, outdoor grilling stations, 24/7 fitness center, car charging stations, community club room & entertainment area, business & conference rooms, and bicycle racks.

Our Team

Our team is comprised of forward-thinking industry experts
Paul Larson - CEO Paul Larson – CEO

Paul Larson is the founder and CEO of Larson Financial Holdings (LFH), the parent company of Larson Capital Management. Paul is responsible for business development, capital raise, capital deployment, asset profitability, and strategic direction for the firm. LFH is a one-stop financial resource for its clients, with a platform that supports over 200 Advisors across 30 states with over $6 billion of assets managed and is one of the fastest-growing integrated financial companies in the country.  

Paul holds a degree in Finance from Northwestern College. 

Jon White - President Jon White – President

Jon White is the President of Larson Capital Management. Since joining Larson Capital Management in May 2017, Jon has led the acquisition of property with purchase prices totaling $363.5 million and oversees approximately $165 million in assets under management. Before joining LCM, Jon served as President of Hoffmann Commercial Real Estate (HCRE) and Operating Partner at Osprey Capital, a large family office private equity firm based in Chicago, IL where he was responsible for the deployment of private equity through strategic acquisitions of office, retail, industrial and multi-family assets. 

During his tenure at HCRE, Jon executed in excess of $1.5 billion of transactions. As an Operating Partner at Osprey Capital, Jon was responsible for business development, lender sourcing/management, project finance, capital raise, capital deployment, asset/portfolio profitability, M&A underwriting/financial, deal flow and strategic direction. 

Connor Kaiser - Sr. Director of Capital Markets Connor Kaiser – Sr. Director of Capital Markets

Connor joined Larson Capital Management in 2020. As the Senior Director of Capital Markets, Connor is responsible for leading the research and due diligence efforts on new acquisitions and developments, as well as managing the development process from inception to completion. Prior to joining LCM, he worked in Investment Sales at Cushman and Wakefield, with a specific focus on institutional sales of office and retail assets. Connor received a Bachelorโ€™s Degree in Finance with an emphasis in Real Estate from the University of Missouri โ€“ Columbia and holds a Missouri Real Estate License.  

Jeff Igou - General Counsel u0026 VP of Strategy Jeff Igou – General Counsel u0026 VP of Strategy

Jeff Igou serves as General Counsel and Vice President of Strategy at Larson Capital Management, bringing extensive expertise in legal and strategic business leadership. With a deep understanding of real estate investments and corporate governance, Jeff oversees the firmโ€™s legal affairs while driving strategic initiatives that align with Larsonโ€™s mission to shape the future of investing.

Jeff earned his Doctor of Law (J.D.) from Creighton University School of Law in 1998, following a Bachelor of Science (B.S.) in Accounting from Saint Louis University in 1995. His combined legal and financial background equips him with a unique perspective on complex business challenges, allowing him to provide innovative solutions and leadership within the industry.

Lisa Bulczak - Director of Asset Management Lisa Bulczak – Director of Asset Management

Lisa joined Larson Capital Management in 2022. As the Director of Asset Management, Lisa manages the financial health of Larsonโ€™s office properties, working with property management and leasing teams to ensure positive financial performance for each building. Lisa has over 30 years of experience in the commercial real estate industry. Before joining LCM, Lisaโ€™s most recent roles included serving as the Market Lead for REDICO, and Executive Director of Property Management for Sansone Group. Lisa earned a Bachelorโ€™s Degree in Business Administration from Southeast Missouri State University and holds a Missouri Real Estate Brokerโ€™s License.

Nelda Davis - Director of Operations Nelda Davis – Director of Operations

Nelda joined Larson Capital Management in 2019. As the Director of Operations, Nelda is responsible for processing and funding investor subscriptions, managing the investor portal, working closely with Larsonโ€™s advisor teams, providing technical and operational support, and managing relationships with fund custodians. Prior to joining LCM, Nelda served as Senior Director of a sales and operations center for UniGroup, Inc., a leader in the transportation, moving, and storage industry. She also served as Senior Vice President of Marketing for United Way of Greater St. Louis. Nelda earned a Bachelorโ€™s Degree in English, and Master of Business Administration from The University of Iowa.

Alyssa Johnson - Director of Investor Relations Alyssa Johnson – Director of Investor Relations

Alyssa Joined Larson Capital Management in 2022. As the Sr. Director of Investor Relations, Alyssa is responsible for oversight and strategic direction of the investor relations program, including investor reporting and communications, marketing, and capital raise. Prior to joining LCM, she worked at Ascension Investment Management, where she was responsible for all investor reporting and maintaining the accuracy of investment performance for an institutional private fund of funds. She began her career in the investment industry with Fiduciary Asset Management. 

Alyssa holds a Bachelor of Science in Business Administration with an emphasis in Finance from University of Missouri โ€“ St. Louis. She is also a Chartered Alternative Investment Analyst (CAIA) Charterholder.