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
346 Units
Average
Unit SF
1,064 SF
Average
Rent / Unit
$2,056
Net
Rentable SF
368,223 SF
Lot
Size
25.17 Acres
Projected
Completion
Q2 2027
Number of Parking Spaces
599 Spaces
Number of
Buildings
12 Buildlings
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 โTriangleโ Region), one of the nationโs 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 nationโs 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
Q4 2025
Construction
Start
Q1 2026
First Units Occupied
Q2 2027
Development
Completed
Q1 2028
Stabilization & Exit
Q4 2028
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 โTriangleโ 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.
Business Plan

Sources & Uses

Rent Comparables

Our Team
Our team is comprised of forward-thinking industry experts
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 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 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 Bachelorโs 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 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 firmโs legal affairs while driving strategic initiatives that align with Larsonโs 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 joined Larson Capital Management in 2022. As the Director of Asset Management, Lisa manages the financial health of Larsonโs 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, Lisaโs most recent roles included serving as the Market Lead for REDICO, and Executive Director of Property Management for Sansone Group. Lisa earned a Bachelorโs Degree in Business Administration from Southeast Missouri State University and holds a Missouri Real Estate Brokerโs License.

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 Larsonโs 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 Bachelorโs Degree in English, and Master of Business Administration from The University of Iowa.

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.
In general, investment in this project involves various and substantial risks, including the risks inherent in the development of real estate and the operation of a multifamily housing property, economic changes, market fluctuations, interest rate changes, liquidity needs, our dependence upon key personnel, conflicts of interest and certain tax risks. The investment strategy outlined provides LCM wide latitude, on behalf of investors, to develop, operate, and eventually sell the project, subject to the Fundโs terms. The foregoing description is general and is not intended to be exhaustive. Prospective investors must recognize that there are inherent limitations on all descriptions of real estate acquisition and sales processes due to the complexity, confidentiality, and subjectivity of such processes. In addition, the description of virtually every investing strategy must be qualified by the fact that investing approaches are continually changing, as is the prospective market for LCM to dispose of the Project, which is critical for generating a positive return for investors. Past performance is not indicative of future results. Please consult your financial, legal, and tax advisors to understand potential risks and impacts.
FOR ACCREDITED INVESTORS ONLY
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