Exit update: Richland, WA apartment investment pays back in full

This project generated an annualized return of roughly 12% over the term of the investment, which supported dividend payments for Income eREIT investors.

Apr 24, 2019

In January 2016, we invested $2 million in a 228-unit apartment community in Richland, Washington. Initially, we expected to hold the investment through July of 2021. However, in November of 2018, the borrower opted to refinance the property to pay back the majority of our investment.

Today, we’re pleased to announce that the borrower paid back the remaining principal of our investment, which earned an internal rate of return of roughly 12%¹ over the shorter than anticipated term.

Investor FAQ: How does an individual project impact your portfolio?

This investment was structured like debt, where the borrower must pay us a fixed rate of return before they can earn a return for themselves, and their equity provides us with a cushion against losses. Throughout the term of the investment, the regular income it generated supported quarterly dividends for the Income eREIT.

All updates on this asset

Progress update: Majority of investment in Richland, WA pays off

Dec 12, 2018

Exit update: Richland, WA apartment investment pays back in full

Apr 24, 2019

More about this asset

Richland, WA Stabilized Multifamily Recapitalization

1. Annualized return calculated using the internal rate of return (IRR) method.

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