|Current Ann. Return||15.8%|
|Accrued Ann. Return||+
|Gross Ann. Return*|
|Current Ann. Return||15.8%|
|Accrued Ann. Return||–|
|Gross Ann. Return*||15.8%|
|Term Remaining||– of –|
32 Unit apartment building located blocks away from University of Texas. Stabilized and very low occupancy historically. Opportunity to capture rental increase with moderate improvement of interiors, and curbside appeal. ACA is offering investors an opportunity to invest up to $740,000. The Purchase Price of the Property is $3 million (rounded) before transactional costs, fees and reserve funds. The General Partner plans to invest ten percent (10.0%) of the Purchase Price. The acquisition of the Property is expected to occur at the end of Q413.
|Capital Senior to Fundrise||60-69%||3|
|Capital Junior to Fundrise||20-29%||3|
|Sponsor’s Track Record||$250 million or more||1|
The information contained in the Fundrise Rating is for informational purposes only. It is impersonal and not individualized for any specific investor's financial situation and is not investment advice. These ratings are not intended to be, nor should you interpret them to be, a prediction of how a particular investment will actually perform. You should always carefully consider investments in any security and be comfortable with your understanding of the investment. You may also consider consulting investment professionals.
|Type||Source||% of Total||Amount|
|Equity||Sponsor, Private Investors||24.3%||$785,900|
|Senior Debt||Horizon Bank||68.0%||$2,201,300|
305 35th Street Apartments is a student housing community Located just north of the University of Texas (main campus and graduate schools). The Property is comprised of 32 apartment units situate on a 21,024 square foot (+/-) site. The Property is 100% occupied, primarily by students. The Property has been very well maintained and marketed.
The General Partner feels there is a compelling opportunity to continue to reposition the Property via an efficient and modern re-design of interiors and improved landscaping, lighting and exterior design elements that will enhance curb appeal as well as attract young professionals willing to pay higher rental rates for a clean, well located and designed residence. The General Partner believes that following a moderate yet intelligent rehabilitation, rental rates can be increased by 10%-15% upon lease expirations.
|Address||305 35th Street|
|City & State||Austin, TX|
|Neighborhood||Near UT North Campus|
|Product Type||Multi-Family / Student Housing|
|Project Phase||Stabilized / 100% Occupied|
The submarket lies adjacent to the University of Texas where 50,000 undergrads go to school. The vacancy factor in the submarket was 0.7% (point seven per-cent) in the Q3 2013. The Austin Metropolitan Statistical Area (MSA) is growing so rapidly it is starting to run out of employees. According to household-based data from the U.S. Bureau of Labor Statistics (BLS), the unemployment rate fell below 5.0% as the number of employed residents of the MSA increased by 43,480 (4.9%) in the year to November 2012.
The labor force increased strongly, by 31,780 (3.4%), but could not keep up. Competition for workers is pushing up income according to Moody’s Economy.com, with a 4.8% increase in household average income in 2012.
The metro area population increased by nearly 50,000 (2.7%) in 2012 according to this source. "Central Texas home sales closed out 2012 at their highest level since 2007, marking the strongest year for the local housing market since the recession," according to the Austin American-Statesman. "The local housing market is being buoyed by the region’s job and population growth, low mortgage interest rates, escalating apartment rents, and rising home prices, the latter of which are making consumers more confident about making a home purchase."
Austin Capital Advisors is privately held real estate investment company specializing in all aspects of commercial real estate in the dynamic city of Austin, Texas. ACA feels the diversity of Austin’s economy and its young educated workforce, together with compelling population growth, provides a persuasive basis for near and long-term investment. ACA professionals possess a collective 75 years of experience in real estate, with an average of nearly twenty years of relevant industry experience amongst its investment professionals.View full profile