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Exit update: Colorado Springs, CO, apartment investment pays back successfully

The project generated an annualized return of roughly 11%¹, supporting consistent dividend payments for Heartland eREIT investors.

Apr 15, 2020

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In December 2016, we invested $1 million in the Aviator Apartments, a 147-unit apartment complex in Colorado Springs, Colorado. The business plan involved the sponsor holding the asset for several years while robust market and population growth supported the property’s value.

Today, we’re pleased to share that the sponsor recently sold the property and paid back our investment, which achieved an annualized return of roughly 11%¹ over its duration, matching our initial projection.

Investor FAQ: How does this project impact your portfolio?

This investment was structured like debt, where the project’s sponsor 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 this investment, the regular income it generated supported quarterly dividends for the Heartland eREIT.

As always, please don’t hesitate to reach out to investments@fundrise.com with any questions or feedback.

More about this asset

Aviator Apartments

Colorado Springs, CO

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

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